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Tourists walk past a kiosk on the Bai Causeway of West Lake in Hangzhou, East China's Zhejiang Province, May 15, 2023. Recently, the 5-year lease of a concession stand on the Bai Causeway of West Lake in Hangzhou started with 1.9 million yuan. After 68 auction bids, it was finally sold for 2.84 million yuan, a premium of nearly 50 percent. It is understood that the West Lake Bai Causeway on the concession shop covers an area of only 4.5 square meters, with 5 years of lease rights of 2.84 million yuan calculation, the pavilion daily rent needs 7780 yuan, per square meter annual rent of 126,200 yuan.
Tourists walk past a kiosk on the Bai Causeway of West Lake in Hangzhou, East China's Zhejiang Province, May 15, 2023. Recently, the 5-year lease of a concession stand on the Bai Causeway of West Lake in Hangzhou started with 1.9 million yuan. After 68 auction bids, it was finally sold for 2.84 million yuan, a premium of nearly 50 percent. It is understood that the West Lake Bai Causeway on the concession shop covers an area of only 4.5 square meters, with 5 years of lease rights of 2.84 million yuan calculation, the pavilion daily rent needs 7780 yuan, per square meter annual rent of 126,200 yuan.
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