Old-style romance
Updated: 2015-03-13 07:18
By Agnes Lu(China Daily USA)
|
||||||||
Game for more
The ground-floor mechanic's workshop now houses a Mexican-style fusion restaurant. Eight apartments, one on each floor, were all rented out within less than three months since being launched last December. Only rentals are offered currently.
Around HK$60 million in total, divided nearly equally between purchase and renovation costs, was spent on converting the building.
It took nine long years for the project to officially hit the market, well over Allan's initial estimate of three to five years. However, she observed the lack of such specially designed buildings nine years ago, and still thinks the same way.
"Bringing more unique products and more quirky conversions to the market is what a small developer would do to differentiate themselves. There was a gap for such kind of ideas and I still see it today," she said.
But such opportunities are dwindling, and it requires a keen nose to be able to sniff out redevelopment potential. Allan mentioned Chai Wan, North Point and Tin Hau as possible destinations for similar conversion projects, where old buildings, colorful neighborhoods and fine Western-style eateries cozily co-exist.
"I think certain kinds of plot ratio bonus or taxation benefits can be implemented for more developers to revitalize old buildings," said Allan. "But (they should restore) them properly, including finding the right interior design, instead of just keeping the faade."
Although the time spent on acquiring the building and renovating it was much longer than expected, Allan will not hesitate to plunge right in if a similar project presents itself. She said: "If I find somewhere with the same charm I'll do it again."
Contact the writer at agnes@chinadailyhk.com
- Iraqi forces battle Islamic State for Tikrit on two fronts
- Venezuelans march in solidarity with govt
- Downton Abbey fan Kate Middleton visits set of hit TV show
- UK fantasy author Terry Pratchett dies
- Indian Prime Minister arrives in Sri Lanka on state visit
- Top diplomats set to meet to discuss China, Japan, South Korea summit
Across America over the week (from March 6to March 12)
Money man
14 firsts in history of 'two sessions'
Zither village: Producer of musical charm
Top 10 largest new international plants in China
Picturesque scenery of red earth in Yunnan
E China villagers snatch fake goods to be destroyed
Across Canada March 13
Most Viewed
Editor's Picks
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
Today's Top News
China top attendee at investment summit
China has huge growth potential: Experts
72% worry about retirement life
Apple Watch clones surface in China
Nation open to US pivot
Small Chinese firms discovering OTCBB market
Tencent, US firm join on e-books
Strong US dollar impacts world trade
US Weekly
![]()
|
![]()
|