Property firm Macquarie Goodman of Australia, which is expected to list a real estate investment trust (reit) next year, has entered into an agreement to buy a property in Tuen Mun from Fountain Set (Holdings) for $459.65 million.
Fountain Set, a global leader in manufacturing circular knitted fabrics, yesterday announced that its subsidiary, Gold Wheat Investment, had reached a deal with Macquarie Goodman FS Holdings on the sale of the New Territories property.
The property comprises two blocks of self-constructed industrial buildings with workshops and car parks.
The site's net book value as at the end of August was about $457.2 million.
As the market for reits develops in Hong Kong, property analysts expect the city's high-yield commercial properties to benefit by attracting more interest from foreign investors.
Industrial and office buildings offering stable and high rental yields abounded in the city's industrialised districts such as Kwun Tong, making them prime buying targets for reits, industry players said.
