Debt-ridden Chinfon Commercial Bank (慶豐銀行) plans to put up its 25 properties, including its Taipei headquarters, for sale next month, with a total asking price of NT$4.2 billion (US$131 million), according to auction organizer Savills Taiwan (第一太平戴維斯).
The first batch of its 13 properties, including its Taipei headquarters near the Taipei Railway Station, are scheduled to be liquidated on Aug. 11, while the remaining 12 properties, including its stake in the Taipei Financial Center (台北金融中心), will be auctioned on Aug. 18, the realtor said in a press statement.
The bank has set the price for its 10-story headquarters on Nanyang Streeet, which occupies a 307 ping (1,013m²) plot of land and has a total floor space of 2,417 ping, at NT$1.4564 billion, the realtor said.
The floor price, which is estimated to be 5 percent lower than the average price for commercial properties in the district, should be attractive to potential bidders, the realtor’s president, Gordon Kao (高銘頂), said by telephone yesterday.
More than 10 potential corporate buyers, including one overseas private equity fund, domestic land developers, financial service providers and life insurers have expressed interest in acquiring the property within the past month, he said.
The floor price for another much-coveted property — part of Taipei Financial Center’s first basement, first, second, eighth and ninth floors, with a total floor space of 1,905 ping — has been set at NT$1.24234 billion, the statement said.
Kao said he expected stiff competition for the property after some of the center’s floors were earlier sold for up to NT$1.2 million per ping. The realtor said that bankrupt Kolin Inc (歌林) would also liquidate its assets, a shopping mall in Sinjuang City (新莊), Taipei County, on Aug 18. It refused to disclose Kolin’s asking price, however.
The yet-to-be-completed mall, billed as a 15-minute drive from a planned city center, sits on an 11,200 ping-parcel of land and will offer a floor space of 32,781 ping upon completion, the realtor said.
The mall offers great potential once the nearby subway system is opened in 2013, the realtor said.
Kolin planned to sell the mall for NT$6 billion in July last year, but failed to find a buyer.
This time, if the offers are lower than the floor price, bidders will be given a chance to raise their offers, Kao said.
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