 2014-02-26 |
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YC's Subsidiary Wan Chao Purchases Chongqing South Road Building, Plans to Develop Small Apartments in a Star School District
Juheng News Reporter Wang Guanning, Taipei | Juheng News – February 26, 2014, 8:54 AM
YC Group (4306-TW) subsidiary Wan Chao Construction announced that it has purchased a building located at No. 38, Section 3, Chongqing South Road, Zhongzheng District, Taipei City from the Pacific Cultural Foundation for a total price of NT$310 million. YC stated that after acquiring this building, it will not only generate rental income but also have considerable redevelopment potential. After the current leases expire, there is a possibility of redeveloping the building into small apartments in a star school district for sale.
YC mentioned that the building is situated in a prime area of Zhongzheng District, right next to Chongqing South Road. To the north, it is accessible to Taipei Main Station and major government offices, while to the south, crossing Zhongzheng Bridge leads to New Taipei City’s Zhonghe and Yonghe districts. The area benefits from excellent road accessibility and is close to attractions such as the Botanical Garden, Green Park, National Museum of History, Taiwan Arts Education Center, Postal Hospital, as well as prestigious schools like Jianguo High School, Taipei First Girls' High School, and National Language Experimental Elementary School. The location offers complete living amenities, with rental and sales markets showing strong potential for appreciation.
In recent years, Wan Chao Construction has been actively acquiring land in Greater Taipei and focusing on creating high-quality residential spaces. The “Wan Chao Ultimate” project launched in mid-2013 in Linkou aims at providing leisurely living spaces, with 167 units and total sales of NT$5 billion. The “Wan Chao More” project in the Xin-Zhuang sub-central redevelopment area focuses on stylish boutique residences, with 72 units and total sales of NT$1 billion. These projects have attracted significant attention from homebuyers due to their planning and pricing, with expected sales to contribute over NT$5 billion to the group's revenue upon completion in 2015.
YC indicated that future projects by Wan Chao Construction will target first-time homebuyers and those looking to upgrade their homes. Next year, new projects in Xin-Zhuang sub-central and the second phase of the Linkou development will be launched. The Xin-Zhuang sub-central Phase II project will cover approximately 900 ping and will plan for 30-40 ping residential units, with an estimated total sales of NT$5 billion. The Linkou Phase II project, covering 700 ping, will also focus on 30-40 ping residential units, with an estimated total sales of NT$3.5 billion. |
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