The industrial property market continued to soften in the second quarter, with prices coming under pressure. FPDSavills said industrial prices were down 1.6 per cent in the quarter, those for industrial-office properties declined 3.8 per cent and godown prices dropped 5.7 per cent. Mortgagees were eager to sell while investors looked for higher yields, putting pressure on prices. Major transactions included the sales of an industrial site in Cheung Yee Street for HK$85 million and Po Shau Centre in Kwun Tong for about HK$80 million. Po Shau Centre has a gross floor area of 112,643 square feet, and its sale price represented an average of HK$710 per sq ft. FPDSavills said the building, 65 per cent occupied, was bringing in HK$598,750 a month. If fully let, it would offer an investment yield of about 13.7 per cent. The buyer of the Cheung Yee Street site was reported to be Laws Properties, which also bought 67 workshops, with a total area of about 90,774 sq ft, and 35 parking spaces at Seapower Centre in Kwai Chung for HK$61 million. The industrial leasing market was quiet as the economy remained uncertain. Rental in the sector fell between 0.6 per cent and 5.4 per cent in the quarter. Godown sales were quiet and leasing was soft, though two international express firms planned to lease about 100,000 sq ft in Tsuen Wan.