Jinmao acquires Changsha S10 land parcel at a base price of 2.027 billion yuan, with a floor price of 11,010 yuan per square meter

Insight Network News: On March 17, the third public auction of Changsha S10 land parcel took place. Jinmao’s subsidiary, Changsha Ruo Mao Enterprise Management Co., Ltd., won the bid at the starting price of 2.027 billion yuan, with a floor price of approximately 11,010 yuan per square meter.

According to publicly available information, this land parcel is numbered [2026] Changsha City 008, located in the Kaifu District Huangxing North Road area. The auctioned area is 61,365.55 square meters, designated for commercial and second-class residential use (R2B with a commercial-residential ratio of 1:9), with a floor area ratio not exceeding 3.0. The parcel was first auctioned in December 2023, when China State Construction won with a floor price of about 14,968 yuan per square meter; it was re-auctioned in January 2024, when Yunda bid approximately 16,180 yuan per square meter. Both auctions set new records for floor prices in Changsha.

The auction includes several development conditions, such as the requirement to adopt a centralized geothermal heat pump system for cooling and heating, to hold at least 10,000 square meters of commercial and office property for no less than five years, and to introduce innovative renewable energy industries, including at least one renewable energy company headquarters. The land is adjacent to the Xiang River, about 50 meters from the Wenchang Pavilion station, a transfer station for Metro Lines 1 and 6. Surrounding amenities include Mingde Huaxing Middle School, Zhounan Experimental Middle School, Xiangya Hospital, and Hunan Provincial Maternal and Child Health Hospital.

Disclaimer: The content and data of this article are compiled by Insight based on publicly available information and do not constitute investment advice. Please verify before use.

(Edited by: He Chong)

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