The Birth of the Hong Kong Island Family.

On August 8th (Wednesday), Changjiang Properties officially published a "Housing Advertisement" in the newspaper. Simply add the phone number, address, and approximate price.

The higher the floor, the cheaper the price. For example, a unit on a 12-story building only needs 2.2 units; and the most expensive unit on the lower floors is 3.8 units; High water supply problems.

After all, Kimberley Road is in Tsim Sha Tsui, close to the commercial district, so the unit price of the building is still relatively expensive.

As soon as the news came out, there were heated discussions.

A foreign lawyer told reporters that selling residential buildings by stratification and sub-units will "disaster future generations", and various disputes will arise in the future, such as how to repair the elevator and how to change the lease?
This kind of remarks has been recognized by many people. Of course, everyone does not know about the 'public housing lease', so they made this comment!

Cheung Kong Industries.

Lin Zhichao was in the office, looking at the "Book of Lou" of the Champagne Building in his hand, with a satisfied expression on his face.

A building book has 16 pages and nearly 20 pages. There are texts explaining the topography, building materials, and stratified prices of the buildings in detail. In addition, there are building sites, perspective drawings, floor plans, slope drawings, and floor plan drawings of the buildings. , everything you need.

Except that the quality of printing and binding is worse than that of later generations, the content and typesetting are no different from the popular advertising albums of later generations.

The invention of the "lou book" also has a small story: in the past, the real estate agents in Hong Kong were not active at all. When visiting real estate, I go back and forth many times a day, even [-] times. My husband has finished watching today, and my wife will come to see it tomorrow.As a result, real estate agents have sore backs and legs, and are unable to entertain them. Over time, they say to clients in anger, "Go up and see for yourself."

With the invention of "lou book", even for a single building, the building book will be compiled, saving a lot of energy, and it will be more widely advertised.

The end is fun!
After a while, Cheung Kong's 'Big Three' walked into Lin Zhichao's office.

Huang Changhong, deputy general manager, a real estate professional who graduated from a university in architecture, is mainly responsible for the planning, design, and construction of the site;
Zhou Fuzhao, financial manager, was an employee of the bank in the early days and was very good at finance;
Hu Zhaoxu, the manager of the marketing department, is good at everything from land purchase to real estate sales, as well as handling relations with relevant government departments.

Therefore, the Big Three are already trusted and reused by Lin Zhichao. The key is the old employees who have followed him for more than eight years and are the founding veterans of the company.During this period, Zhou Fuzhao was sponsored by Lin Zhichao to study in the UK and obtained a university diploma in accounting; Huang Changhong also went to Europe and the United States many times for brief training in architectural knowledge.Only Hu Zhaoxu relied on his own exploration and learning. Of course, his ability to communicate with others is a natural talent.

"Now Hong Kong real estate is about to be ignited. At that time, everyone must join in and invest a lot in building buildings. As the first person to eat crabs, we must be the industry leader. We will regard 'building a house' as opening a factory, Sell ​​out here, and we buy in over there, and the goods are like a rotation.”

Lin Zhichao began to impart experience, after all, his knowledge is ahead of these people.

After listening, the three of them also understood that what the boss meant was that if they sold the buildings and made money, they should continue to buy land instead of just developing the land and old buildings in their hands.

Later, Lin Zhichao said: "At present, in the next two years, we may sell one building every month on average. Everyone should do a good job in various tasks and enhance their management capabilities!"

"Yes, boss!"

The three of them were excited when they heard it, one building a month, wouldn't it require two to three thousand residential units in a year.

In fact, this is Lin Zhichao's conservative development!
After all, according to Lin Zhichao’s estimation, if the annual market capacity in Hong Kong is 10000 houses in the past two years, then the reason for the sharp drop in 1957 may be that 1.5 to 2 houses will be produced a year.

After all, the fundamental reason for this sharp drop (the urban area is relatively stable) is the oversupply and the Hong Kong government’s restrictions on the sale of uncompleted properties. As far as Lin Zhichao knows, this is the case.

Of course, Lin Zhichao will not regret selling [-] to [-] residential units a year. He is not greedy; after all, the current real estate profits are not high (high profit margins), and land reserves are also very important.

On Saturday morning, hundreds of people gathered at the site of 'Champagne Building' on Kimberley Road very early, and it became the news material of major media for a while.

There are only 176 residential units for sale in Champagne Building, and the number of people on site is several times higher, so that one salesperson has to deal with dozens of house inspections.Fortunately, the emergence of Loushu, sand table, etc. freed the sales staff; but even so, there are many people who ask questions. Fortunately, everyone is well-trained.

In this case, there is no need for "support" at all. This will be the real situation of real estate in Hong Kong in the past two years.

"What does it mean to sign a 'public housing lease' to buy a house?" Someone was about to start when he found the 'public housing lease' mentioned in the building book.

"The public housing lease is the best agreement with legal effect to solve high-rise residential buildings. As long as this agreement is signed, it means that everyone will jointly bear the subsequent expenses of this building, such as elevator maintenance, sanitation fees, etc. At the same time After signing the public housing deed, the equivalent land area above is the land area you can get if the house is demolished in the future, which is convenient for converting compensation costs, which is equivalent to not only buying a house, but also buying part of the land. "The number of salesmen picked up the loudspeaker and introduced.

"This is a good idea! So many people live in one building, it must be a lot of trouble, but as long as there is a public housing lease, all the problems will be solved immediately. It's like a real estate company in a private housing estate." Said knowledgeably.

Those who can come to buy a house are definitely not workers, they are people with small careers and wealth, and they will not be short-sighted; of course, since they must sign a "public housing contract" in order to buy a house, ordinary people will not hesitate.

In an open space in the "Champagne Building", Lin Zhichao was also chatting with visiting friends, including He Shanheng, Liao Baoshan, Airship Tai, Chen Detai and others, who came to join in the fun. In fact, they were looking for news and seeing how Lin Zhichao sold the property of.

Among them, Airship Tai and Li Gaofu are acquainted, and Lin Zhichao met for the first time, but everyone soon became familiar with each other.At this time, Airboat Tai was shocked. He didn't expect that he was still studying the 'public housing lease', and others had already started to implement it.

It turned out that Airship Tai also had a small piece of land in Mong Kok, Kowloon, and planned to build a high-rise residence, and planned to sell it at the end of September; unexpectedly, Lin Zhichao reacted faster than anyone else, and the building regulations were passed in less than two months, and others had already sold the building. Put it out and sell it.

"Goodness, goodness, Lin Sheng used the 'public housing lease' to solve all the troubles, those British lawyers should shut up!" Liao Baoshan heard it enthusiastically. Recently, he has been planning to enter the real estate industry and build high-rise residential buildings, but he is suffering from the policy. I understand and worry, so I have been waiting for the opportunity.Now, clearly, the opportunity has come.

Lin Zhichao said with a smile: "Not all British lawyers are short-sighted. Our public housing lease is still a document drawn up by lawyer Andrew Andrew!" Then he joked: "Could it be that Brother Liao also plans to show his talents in real estate? Well, who can beat you, a banker!"

Everyone laughed!

In fact, He Shanheng and others also built a small building last year, but it was not in the name of Hang Seng Bank, but by He Shanheng, He Tim and others as a private partnership to build and invest.

Banks in Hong Kong can do anything, free port!

Liao Baoshan immediately said: "Lin Sheng is joking! The money in the bank belongs to the bank, not mine."

It's not your personal fault!
Lin Zhichao can already imagine that with the prosperity of real estate, these banks have formulated high interest policies in order to attract deposits, and it is possible to grab deposits in the market with an annual interest rate of more than 18%. If the income is much higher than 20%, the bank will also be short of money, and the result is a large number of deposits.

Most of the banks in Hong Kong are private and family-owned banks. They lend money to their own families and individuals, which is very convenient.Until the mid-80s, this kind of thing still happened. At that time, only the Bank of East Asia was left among the local Chinese banks.

Liao Baoshan also asked a question: "Lin Sheng, is the 20% down payment not beneficial to the real estate company? Such a slow payment is not conducive to turnover?"

Everyone paid attention to Lin Zhichao's answer. Indeed, the reduction from 50% to 20% is a huge percentage.

How could Lin Zhichao share his inner thoughts - just to keep you from being too crazy, but he said: "It was a mistake in my analysis. I thought Hong Kong's purchasing power was insufficient, so I used this method to attract customers. I just didn't expect that, There are so many people here today, it seems that Hong Kong has a lot of purchasing power. Of course, this down payment can be adjusted according to various real estate companies, there is no basis at all! Including the two-year loan period, it can also be adjusted.”

"So it is!" Liao Baoshan said suddenly.In fact, he also thinks that a 20-30% down payment is quite good, anyway, he has a bank.

Afterwards, Lin Zhichao smiled and said to Airship Tai: "Huo Sheng, I heard that you have sold many buildings in the past year. You have rich experience. How would you comment on the various aspects of the Champagne Building?"

From last year to this year, Airship Thai has also developed some small buildings (five-story tenement buildings), and has made a lot of profits, but certainly not as many as high-rise buildings.

"Lin Sheng was joking! You are a bigwig in the real estate industry. From stratification, installment, building books, sand tables, sales offices, to today's 'public housing lease', what you have done is simply a benchmark in the industry. Those of us who are latecomers just need to follow your way!" Airship Tai said seriously.

No matter what, others are one step ahead of him, and he really admires them.

The sample, I learned from you, Lin Zhichao said with a smile in his heart.

After chatting for a while, everyone dispersed.

And on the same day, all 176 residences of 'Champagne Tower' were sold out, and it was officially announced as of [-]:[-] pm.

For a while, Lin Zhichao had predicted that Hong Kong's real estate would go crazy!
Based on the current land price of Champagne Building, the value is about 200 million Hong Kong dollars (2.3 square feet), the construction cost and miscellaneous expenses are about 150 million Hong Kong dollars, and the total investment is 350 million Hong Kong dollars; and the total price of 176 residential units is 515 million Hong Kong dollars , plus the value of shops and ground floor shops of about 150 million Hong Kong dollars, which is equivalent to a return of 660 million Hong Kong dollars.

Double the profit!
For such a real estate, the development period is the longest at 18 months, and the construction only takes less than 12 months.

Such a high rate of return is not crazy.

Even if the land and other costs increase in the later stage, the property price will also increase accordingly!
Of course, the risk is also greatly increased, but no one will care about it!

A new week begins.

Newspapers were full of reports about the 'Champagne Building', and it became the talk of the public after dinner.Many people understand the truth that if residential buildings are allowed to build 12 floors, it will greatly stimulate the real estate market in Hong Kong, and more people will buy properties, and the housing shortage will become a thing of the past.

At the same time, the Champagne Building has become a template for major real estate companies, and everyone is sharpening their swords for a while!

Lin Zhichao is reviewing the plans of "Tan Gong Building" at No. 2-4 Hysan Avenue, Causeway Bay in his office. He has been in the real estate industry for eight years, and he is an "architect" himself. Already in the category of top talents in the industry, he is familiar with building regulations.

Tan Palace Building is located in the triangle between Hysan Avenue and Leighton Road, but this triangle is not only the land of Tan Palace Building, but also two old properties of the Lee family.If he develops high-rise buildings, the Li family will definitely enjoy the convenience of rising land prices.

Lin Zhichao still uses the first floor and basement as shops, but the second and third floors are designed as office buildings. The Tan Palace Building is 20 floors high. After completion, it will become the tallest building in Hong Kong.Of course, there is nothing to talk about this thing, after all, Causeway Bay is not as meaningful as Central, and it will soon be replaced by other buildings.

This year, Cheung Kong Properties will be able to sell three buildings. After all, the sales price will be higher next year.But in this way, Lin Zhichao still has to inject capital, because he may have to participate in the auction of official land.

Global Shipping can no longer provide funds. After all, some funds must be reserved as operating funds; Changjiang Industry can provide 500 million Hong Kong dollars.

Five million Hong Kong dollars is not enough to buy much land. The current average price of residential land in Hong Kong and Kowloon is already 500 or [-] Hong Kong dollars per square foot.

Therefore, Lin Zhichao planned to borrow 1000 million Hong Kong dollars.

Coupled with the return of funds from real estate developers, it is enough to purchase land reserves in the future.

As for the plan to invest in commercial buildings, Lin Zhichao planned to do so after 1957.After all, without housing to provide popularity, how can there be business?
At the same time, if there are currently beautiful land and old buildings in Central Hong Kong for sale, Lin Zhichao will be in a situation where he has no funds to buy; because the beautiful land in Central has risen to more than 800 Hong Kong dollars per square foot, such as the Pedder Street purchased by Lin Zhichao The Hong Kong Hotel currently starts with at least 2000 million Hong Kong dollars.

Fortunately, there will be no high-quality land and old buildings in Central for sale at present, because everyone is not stupid, and it will definitely take a year or two.By then, land in Central will be at HK$1500-1600 per square foot, reaching the peak in the 50s.

In this way, Cheung Kong can use the profits from housing to acquire residential land and commercial land in Central.

In terms of buildings and land in Central, Cheung Kong Properties currently only has four buildings, which is obviously not enough. At least before the 60s, it was more reasonable to have six or seven buildings.

After a while, Huang Changhong and Zeshi Zhou Guangpu came to Lin Zhichao's office together.

"The blueprint of the Sandalwood Building is wrong!" Lin Zhichao said immediately.

Zhou Guangpu blushed immediately. He was a teacher (architectural designer) from a famous university. He had only given the manuscript to the boss for more than an hour before he was called to the office.He even wondered if the boss beat him on purpose, otherwise how could he find out the problem in such a short time.

Of course, everyone has heard that the boss is very familiar with real estate drawings, construction, etc., and always takes things seriously.

Huang Changhong immediately said: "What's wrong with the boss, this drawing has also been proofread by me."

Lin Zhichao didn't blame these people, they were all professional architects, he didn't need to scold them, but let them convince him.Let them understand that their boss is a very serious and professional real estate elite.

"This is a triangular area, and the angle of light intake can also be adjusted accordingly, so that the floor area of ​​our building can increase considerably. Do you think this is the case?"

Zhou Guangpu suddenly felt a little ashamed and embarrassed. With the boss's advice, he instantly realized that he had neglected it, and it was estimated that he would lose thousands of square feet of construction area.

Many buildings in Hong Kong hope to join together when rebuilding; if two or even three streets can be opened up, the floor area ratio will be greatly increased.The streets and streets in Hong Kong are not as wide as those in the Mainland, and are often the area of ​​two buildings. If the two buildings are merged and rebuilt, the floor area of ​​the building will be greatly increased.

Tan Gong Building is located in a triangular area, but it can only face two streets at most. Adjusting the light angle can also increase the floor area at a considerable cost.

"I'll go back and calculate again!" Zhou Guangpu said.

"Well, we should pay attention to these aspects in the future, especially to thoroughly understand the building regulations of the Hong Kong government and update the latest ones, and never miss a single detail." Lin Zhichao did not blame too much, after all, he took his time.

After Zhou Guangpu left, Lin Zhichao said to Huang Changhong: "Who is the project manager of the Champagne Building?"

Huang Changhong said: "It's Lu Xiaopei!"

It was introduced by the boss.

Lin Zhichao nodded, and said, "Shanghai people may not know how to settle accounts. Paul Li is asked to inspect and review the construction site more, and you also need to inspect our sites more!"

Lu Xiaopei is a person who understands construction and management, but he just doesn't know how to settle accounts, otherwise he wouldn't always litigate in his previous life.Many times, I almost broke myself because of miscalculations.

In fact, his boss likes to inspect the site, but the key is that he still has the affairs of the two major groups of Global Shipping and Changjiang Industry, otherwise Lin Zhichao would like to soak in the real estate.

Doing real estate is still very comfortable!

"Well, I understand! A lot of work on the construction site is supervised by Changjiang Industrial. If Poly Construction makes mistakes, Changjiang Industrial can also detect it."

After chatting for a while, Lin Zhichao felt relieved. Cheung Kong was full of talented people, and he, the boss, was not worried at all; since the work was entrusted to his subordinates, he would not have any psychological burden.

Now the land calculation is small, and there may be a lot of land at any time in the future, and Lin Zhichao will not be able to separate himself by then. (end of this chapter)