On November 28, a land auction information in Xishan District, Kunming City, appeared on Ali Auction's website. The Fifth Intermediate People's Court of Chongqing Municipality will publicly auction the state-owned land use rights and above-ground structures of the Kunming Wanda City plot from 10 a.m. on December 30, 2023 to 10 a.m. on December 31, 2023.
Screenshot of Alifa's website.
The reporter inquired and found that the plot is located in Kunming Sunac Cultural Tourism City, and is now Kunming Dianchi Song Hotel.
The plots and above-ground structures were auctioned.
The starting bid is 5More than 600 million yuan.
Auction information shows that the judicial auction involves two parts, one of which is 5390402 square meters of wholesale and retail plots, the other part is above ground structures. The total starting price is 560051870 yuan, and the appraisal price is 80007410 yuan, and as of December 5, no one has registered.
Screenshot of Kunming Wanda City KCXS2017-10-A2 land assessment report.
The evaluation report of the plot (Kunming Wanda City KCXS2017-10-A2 plot) shows that the A2 plot development enterprise is Kunming Sunac City Investment *** The project covers an area of about 81 acres, with a total of 31 buildings, 1-3 floors, and the property type is a hotel. Among them, 30 are guest rooms, and 1 is the public area and office area of the hotel, and the business types include guest rooms, catering, gymnasium, swimming pool, parking garage, etc. At present, the above-ground houses have been completed and accepted for the record, and the property rights have not yet been registered, and the land use is wholesale and retail land.
Kunming Real Estate Registration Result Information Inquiry Form" records that the land use right has a record of mortgage and seizure, and the mortgagee is Chongqing International Trust Co., Ltd. *** The seizure unit is the Fifth Intermediate People's Court of Chongqing.
According to public reports and information, the Song Pin Hotel in Kunming Dianchi was completed and put into operation in 2019. In 2021, Sunac raised 199.9 billion yuan, for the "Chongqing Trust Kunming Sunac City" project collective capital trust plan, the auctioned hotel is one of the collateral. In 2022, this trust plan will expire, and although it has been collected by Chongqing International Trust shares, Sunac has only repaid 6 million yuan.
Chongqing International Trust Co., Ltd. has communicated with Sunac, relevant departments in Xishan District and state-owned companies for many times, but there has been no agreement on the transfer of mortgaged hotels** and the distribution plan. After that, Chongqing International Trust Co., Ltd. initiated the judicial disposal procedure, applied to the court for enforcement and filing, and the hotel was auctioned judicially.
A number of projects in Kunming Sunac Cultural Tourism City.
Problems arose after delivery.
The hotel was seized and auctioned, part of the equity transfer of the second phase of the plot, and the problems of the delivered land were frequently ......In recent years, the development of Kunming Sunac Cultural Tourism City has been very bumpy.
In January 2022, Sunac transferred 40% of the equity of Kunming Sunac Cultural Tourism City Phase II to Huafa, with a transfer** of 1.4 billion yuan. At present, the second phase of development is the Huafa Scholar Yunhai Project, and its sales are "hot-selling projects" in the Kunming property market, and the construction progress is normal.
However, on the other hand, the projects that have been delivered in Kunming Sunac Cultural Tourism City have frequent problems.
The gate of the A21 plot was taken in March 2023.
In March this year, the owners of plots A21, A22 and A24 of Kunming Sunac Cultural Tourism City reported that they had been moving in for several months, the gate had not yet been completed, and many areas in the A22 plot were in an unfinished state, and the owners questioned the "reduction and delivery".
In July this year, a number of owners of Kunming Sunac Cultural Tourism City reported that the underground parking lot of the building where they lived leaked seriously on rainy days.
In November this year, due to the developer's arrears of nearly one million yuan in electricity bills, the Kunming Power Supply Bureau issued a notice saying that it would take power outage measures for Kunming Sunac Cultural Tourism City, involving multiple plots, sales departments and construction headquarters, causing concern to owners. The owners of plots A21 and A22 said that they had been using temporary electricity since the delivery of the houses.
As one of the leading real estate companies, Sunac has developed a number of projects across the country, including Kunming Sunac Cultural Tourism City, Sunac Yanlai Lake Town, Sunac Dolphin Bay, Sunac Peacock Town, Sunac Renmin Road 1979, etc., and also has projects in Dali, Pu'er, Baoshan and other prefectures and cities. Since the Sunac thunderstorm in May 2022, these projects have been affected to varying degrees, with problems such as slow construction, delayed delivery, and work stoppage, which have attracted many complaints from financial entrepreneurs.
Kunming Sunac Cultural Tourism City has delivered the real picture of the plot.
Since the beginning of this year, Sunac has carried out many aspects of "guaranteed delivery" and other work. According to the information released by Sunac Yungui WeChat***, from January to November this year, Sunac has delivered 227 projects, totaling about 2270,000 sets, 34 million square meters. In November, Sunac delivered 220,000 residences in 26 projects.
In addition, on November 20, Sunac's official announcement showed that the conditions for Sunac's overseas debt restructuring had been met, and it officially took effect on the same day, making Sunac the first large-scale real estate company in the industry to complete domestic and foreign debt restructuring, and the debt risk of about 90 billion yuan has been fully resolved. The announcement also said that in the next 2-3 years, Sunac will have no rigid debt repayment pressure in the overseas open market, which will create favorable conditions for the follow-up "guaranteed delivery".
Metropolis Times Reporter: Wang Yin.
Editor: Bi Qun.
Editor: Wu Chenping.
Final review: Zhou Jianjun.
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