Chinfon Bank's former headquarters occupies a land plot of 307ping (1,015 sqm) on Nanyang Street, near Taipei Main Station. The building has a gross floor area (GFA) of 2,417ping (7,990 sqm) with ten floors above ground and one below. It was completed in 1962, which makes the 37 year-old property a prime candidate for new government-led incentives for urban renewal.

The final price exceeded a recent property transaction nearby, which reached NT$8.339 million per ping.

According to Gordon Kao, General Manager of Savills (Taiwan), "This was our first time assisting CDIC in auctioning a property. The success of the auction has now solidified the level of cooperation that CDIC and Savills (Taiwan) can achieve together. We believe that CDIC's trust and satisfaction in our ability to organize a fair and effective tender process have been successfully met."

Cynthia Chu, Managing Director of Savills (Taiwan) added, "It was an honor to lead the company in establishing auctions as a new business line. Our auction team intends to continue utilizing our professionalism to expand the scope of this service. We believe that auctions will soon be the primary type of transaction for commercial property investment and disposal in Taiwan and I am confident that we are well-positioned to take the lead."

Randall Hall, CEO of Savills China said, "It is a great achievement organizing a smooth and successful auction on behalf of CDIC. I'm glad to see our Taiwan team helping our clients in new ways, while maintaining the clear goal of achieving client satisfaction. I would like to congratulate Cynthia Chu, Gordon Kao and their team for their efforts. I look forward to hearing about more successful auctions orchestrated by them."

(1 ping = 35.58 sq.ft. =3.3 sq.m.)