LONG-TERM THINKING: A manager at Cushman & Wakefield suggested that buyers could wait until 2031 and tear down the Living Mall in favor of an urban redevelopment project
Taipei Times
Date: Aug 17, 2018
By: Crystal Hsu / Staff reporter
(US$1.23 billion) for its gigantic central Taipei retail complex, also branded
Taipei Living Mall is pictured in Taipei’s Songshan District on May 4 last year. Photo: Hsu Yi-ping, Taipei Times
“Living Mall,” targeting buyers at home and abroad, auctioneers said yesterday.
It is the largest private property available for sale in recent decades as most high-profile transactions, including Taipei 101, Regent Taipei (台北晶華酒店), Taipei Nan Shan Plaza (台北南山廣場) and Taipei Garden Hotel (台北花園大酒店) are on leasehold contracts for 50 to 70 years, Cushman & Wakefield Inc told a tender briefing.
“It is not the best timing to sell properties these days, so I recommended a price concession and the owner accepted it,” Cushman & Wakefield Taiwan general manager Billy Yen (顏炳立) said, adding that the property could sell at a much higher price in a boom market. [FULL STORY]
