Taipei-based charity group Evangelize China Fellowship yesterday put its 1,715 ping (5,668m2) plot of land in Tianmu (天母) up for sale, with a floor price of NT$4.97 billion (US$155.3 million), the deal’s auctioneer CB Richard Ellis said yesterday.
That will represent a unit price of about NT$2.9 million per ping, the realtor’s managing director Hong Van (雲惟鴻) told a media briefing.
“This parcel of land would be the last treasure in Tianmu, best for an upscale luxury residential project,” he said.
Van said the price would likely represent the highest in the city’s history of residential land sales, but hours later a new record residential land sale emerged after the National Property Administration auctioned a 116.16 ping plot on Renai Road in Taipei at NT$6.79 million per ping, an increase of 135 percent from a floor price of NT$2.89 million.
Paige Chuang (莊棓琪), senior manager of the realtor’s investment properties, said a new luxury home project on the Tianmu site would yield the highest return, snapping a minimum unit price of between NT$1.3 million and NT$1.5 million per ping.
She said that the return for a hotel or service apartment project would also be lucrative, adding that the site is well-located and close to a sports park, Taipei American School, Taipei Japanese School and four department stores.
Interested bidders in the plot of land are required to put down a deposit of NT$500 million and place their bids by 1pm on March 17, and the auction will be held at 2pm that day, the realtor said.
Greg Yeh (葉國華), an adviser to Evertrust Rehouse Co (永慶房屋), said the land sale would be highly competitive with the potential for urban renewal benefits, whose worth could be “beyond imagination.”
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