Hong Kong-listed developer Tomson Group is acquiring an office floor in Admiralty for HK$193 million ($25 million), clinching the asset at a unit price of HK$18,161 per square foot which is reportedly the lowest in five years amid muted market activity.

Known for its Tomson Riviera project in Shanghai’s Pudong district, Tomson said in a filing to the local bourse on Sunday that its tender for the 13th floor of the Admiralty Centre Tower II had been accepted, allowing it to pick up the 10,627 square foot (987 square metre) asset from receivers acting on behalf of electronic parts trader Wai Chun Group Holdings.

The floor in the 22-storey building atop the Admiralty MTR interchange had first been put on the market for a price equivalent to HK$29,000 per square foot late last year, before slashing the price for the grade A office asset to HK$20,000 early in 2022, according to a report by local financial daily HKET.

The Admiralty Centre Tower II floor has now found a buyer at 37 percent below its asking price from less than one year ago as average prices for grade A offices in Hong Kong have dropped by 31.1 percent from the market’s peak at the end-2018, according to a property agency. Office rents in Central are now 28.3 percent below their market peak in 2019, the agency said.

Prices Fall 49% Since 2019

The office floor sold at a price at the low end of market expectation as investors tend to offer lower bids for properties being sold by receivers and with Admiralty’s office investment market muted for the past year, according to an agent.

Smaller units in the 1980 vintage tower at 18 Harcourt Road have sold for higher prices this year with an 1,875 square foot office on the 17th floor finding a buyer at HK$25,493 per square foot in May, according to data compiled by another agency.

When compared to prices prior to Hong Kong’s social unrest in 2019 Hong Kong and the start of the coronavirus pandemic in 2020, the price for this latest deal was 49 percent less than the HK$29,924 per square foot fetched for a floor in the same building in April 2017, based on separate data from another local agency.

Admiralty Action

For Shanghai-based Thomson, which sources most of its profit from development of properties in mainland China and Macau, the strata office is an income-earning investment which could provide a future Hong Kong home for its business.

“It is expected that the acquisition will enhance the property investment portfolio of the group, generate stable recurring rental income and further strengthen the long-term development of the group in Hong Kong,” Tomson said. “The property may be used as the company’s headquarter in Hong Kong at an opportune time.”

The property generated HK$3.9 million in rental income last year, which was down 10 percent from the HK$4.35 million produced in 2020.

Just prior to conclusion of the tender, Wai Chun signed a three-year agreement to lease half of the floor, or 5,313.5 square feet at a monthly rate of HK$238,000, excluding other fees and charges. The agreement, which covers 1 November through 31 October 2025, also includes two car parking space leases for HK$5,000 per month.

Based on the HKEX filing, the strata office floor is currently held by Wai Chun’s lender, Industrial Bank Co Hong Kong Branch, for a December 2018 mortgage, with the trading firm having purchased the office floor in October 2004 for about HK$68 million.

Moving Closer to Future HQ

Tomson, which is currently based in the Wing On Centre tower in Sheung Wan, had announced late last month that it had leased a new office on the 17th floor of the Far East Finance Centre at 16 Harcourt Road, which is just a few steps from Admiralty Centre Tower II.

Its Admiralty acquisition adds to a series of discounted strata office deals in Hong Kong over the past year, including a HK$95 million purchase last month by an executive director of Cheung & Sons of unit at 9 Queen's Road Central from distressed mainland developer Jiayuan International Group.

Discounted prices and lease rates make Hong Kong’s office market attractive for investors looking to upgrade their workspace, an agent said, who expects the market to rebound during the remaining months of this year with the city’s core business district being a focus of activity.

“We have witnessed a sign of recovery from the downturn in the office market, and believe the positive net absorption will continue to improve in the second half of the year,” agent said. “Central will be the focus of market activities in the remaining part of the year.”

(Mingtiandi)

For more information of Office for Sale at Admiralty Centre please visit: Office for Sale at Admiralty Centre

For more information of Grade A Office for Sale in Admiralty please visit: Grade A Office for Sale in Admiralty

For more information of Office for Lease at Far East Finance Centre please visit: Office for Lease at Far East Finance Centre

For more information of Grade A Office for Lease in Admiralty please visit: Grade A Office for Lease in Admiralty

For more information of Office for Lease at Wing On Centre please visit: Office for Lease at Wing On Centre

For more information of Grade A Office for Lease in Sheung Wan please visit: Grade A Office for Lease in Sheung Wan

For more information of Office for Sale at 9 Queen’s Road Central please visit: Office for Sale at 9 Queen’s Road Central

For more information of Grade A Office for Sale in Central please visit: Grade A Office for Sale in Central

Developers hold price lines

Sun Hung Kai Properties (0016) has not raised prices for the latest batch of homes at Novo Land while Henderson Land Development (0012) limited hikes to about 1.5-2 percent for new flats at One Innovale-Archway.

That was despite overwhelming responses from prospective buyers when homeowners in the secondary market continued to reduce asking prices.

SHKP released its first price list for Novo Land's phase 1B, involving 160 flats at an average price of HK$13,998 per square foot and with a minimum price of HK$3.41 million after discounts. Sales could start as soon as next week.

The list includes 10 studios, 54 one bedroom, 65 two bedroom and 31 three bedroom flats. Areas range from 253 to 694 square feet.

SHKP also unveiled a show flat yesterday.

Meanwhile, Henderson Land has added the remaining 88 flats at One Innovale-Archway to its sale schedule with an average price of HK$14,932 per sq ft, which is slightly higher than in the previous sale. Then it was HK$14,842.

That makes a total of 101 homes to be sold in the new round at One Innovale-Archway on Sunday, including 13 that will be sold via tender.

The developer has also applied for presale consent for phase 2, comprising 400 flats.

Against this action, second-hand property owners were trying to attract buyers by reducing prices.

According to a property agency, nearly 120 second-hand property owners in Tsing Yi want to sell at discounts ranging from four to 16 percent.

Elsewhere, the Planning Department has not objected to a Chinachem plan to increase the plot ratio in converting a site originally for a warehouse to residential use in Tsuen Wan.

The site covered 35,586 sq ft originally, and Chinachem plans to construct two 17-story residential buildings with lobbies, clubhouses and car parks with a total floor area of about 89,666 sq ft. That raises the plot ratio from 2.1 to 2.52 times.

(The Standard)

中環荊威廣場全層1.1億連約沽 每呎2.5萬 高市價10% 租金回報1.8厘

疫市下核心區商廈交投仍然活躍，市場再錄逾億元大買賣，消息指，中環荊威廣場高層全層以1.1億連租約易手，每呎造價約2.5萬，高市價約10%，租金回報約1.8厘，原業主持貨15年帳面獲利6339萬，物業期間升值約1.36倍。

核心區商廈於疫市下頻錄大手買賣，市場消息透露，中環威靈頓街1號荊威廣場高層全層以約1.1億成交，以建築面積4397方呎計，呎價約25017元；據業內人士指出，上述成交價屬理想價，較市價稍高約10%，原業主於2007年底以約4660.82萬購入，以易手價計，持貨15年帳面獲利約6339.18萬，物業期間升值約1.36倍。

持貨15年升值1.36倍

據地產代理指出，上址以連租約易手，以市值呎租約37元計，月租收入約16.2萬，料買家享租金回報約1.8厘，儘管成交價較市價略高，惟因上址屬該商廈唯一全層放盤，加上位處高層，坐享開揚景致，故吸引買家以進取價購入，料作自用用途，此外，該乙廈現今僅餘兩伙放售盤，當中為較低樓層的全層單位，以每呎2.5萬放售，另一放售盤為低層單位，以每呎約2.4萬放售。

位處高層享開揚景致

據代理行資料顯示，該乙廈於近期成交較疏落，對上一宗成交為該廈9樓1至2室，建築面積1699方呎，於2020年5月以3200萬售出，呎價約18835元。

至於該廈另一成交為21樓全層，建築面4397方呎，於2019年1月以約1.18億售出，呎價約2.7萬。

該行代理表示，儘管受疫情及美國聯儲局連番大幅加息等利淡因素影響，商廈市場觀望氣氛籠罩，惟現今市場資金充仍充裕，中環亦為本港傳統商業核心區，為各大企業及商家「兵家必爭之地」，故即使以較進取價錢於區內「插旗」，於長綫而言仍然是物有所值，帶動市場於疫市下頻錄大手買賣。

事實上，中環區內頻錄大手商廈買賣，大鴻輝日前以1.2億沽出中環南華大廈中層全層，每呎造價約2.91萬，創該廈歷來呎價新高，買家為上海商業總會。

(星島日報)

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旭輝6.74億售炮台山項目60%予大股東

旭輝控股以總代價6.74億，出售旗下持有北角炮台山英皇道101號及111號項目的合營公司60%股權及銷售貸款，買家為大股東林中、林偉及林峰。

上述合營公司名為「旭輝地產202006」，是旭輝控股與宏安地產於2020年成立，各佔60%及40%權益，並於2020年斥資18.8億，收購英皇道101號及111號地段全數權益。該地段總佔地面積約12695方呎，計畫重建為商住項目，預計2026年完成。

擬重建為商住項目

另外，宏安地產牽頭發展的薄扶林道86A至86D號住宅項目，宏安行政總裁鄧灝康回覆查詢時表示，最近與地政總署達成補地價協議，涉及金額約6535萬，又透露項目總投資額約15億，部署明年第三季以現樓方式推售。

據了解，是次補價涉及放寬部分上蓋面積要求，並涉及樓面面積或地積比率的改動。該項目地盤面積約2.85萬方呎，2020年初已獲屋宇署批出建築圖則，並展開上蓋建築工程，將建7幢洋房，以可建總樓面約2.84萬方呎計，每方呎樓面補地價約2300元。

(星島日報)

工商舖交投放緩 筍盤獲吸納

受多項因素影響，近日工商舖買賣稍為放緩，而市場出現個別筍盤，即獲投資者吸納。

據一間代理行資料顯示，7月份工商舖買賣僅錄得337宗成交，為過去7個月新低，與6月份444宗比較，則下調24%，而與去年同期比較亦下跌46%。7月份成交金額則錄得約48億元，較前月約79.11億元下跌39%，而與去年同期約147.09億元比較，跌幅達67%。在工商舖3個範疇中，以商廈表現最差，僅錄得44宗買賣成交，與6月相比下降了23%，為今年度第2新低，而涉及金額約4.01億元，較6月約10.02億元急跌近6成，跌幅較整體工商舖為高，反映寫字樓市場買賣交投最受影響。

海富中心銀主盤 1.93億易手

整體買賣淡靜，而個別業主大幅降價即獲承接。如港島甲廈金鐘海富中心早前有銀主盤出現，涉及2座13樓全層，面積約10,627平方呎，去年9月份淪為銀主盤，由接管人推出放售，當時每呎叫價高達2.9萬元。該層樓面新近以以1.93億元易手，呎價約18,161元，創該廈近5年來的呎價新低紀錄。原業主偉俊集團控股股東林清渠等，早於2004年10月以6,800萬元購入，18年帳面升值1.83倍。追溯對上1次成交，為海富中心一座低層03A室，面積2,625平方呎，2017年以近4,525萬元易手，呎價約1.7萬元。在2017、2018年高峰期呎價曾達3萬元。

新買家為湯臣集團，指出收購屬策略性長期投資，預期收購將提升物業投資組合，產生穩定經常性租金收入，又指適當時候可能將該物業用作為香港之總部。

另一幢指標甲廈皇后大道中9號亦錄低價成交，內房佳源集團 (02768) 以約9,500萬元沽中環皇后大道中9號細單位，涉及中層03室，面積3,290平方呎，呎價28,875元，屬低市價15%成交。佳源國際早於2013年以香港佳源集團有限公司名義，斥資約9,360萬元買入上址，持貨約9年，現轉手帳面獲利約140萬元，但若連代理佣金、釐印費 (約398萬元) 等費用計算，估計原業主實蝕近450萬元離場。

商舖方面，核心區地段錄低價成交，尖沙咀彌敦道111至181號栢麗購物大道D段地下7號舖連1樓，地舖面積651平方呎，1樓面積1,382平方呎，總樓面2,033平方呎，早前以約1.8億元放售，據悉最終僅以約為6,300萬元易手，低市價約4成，該舖現時由金行承租。

栢麗購物大道舖 低市價4成沽

分析指，由於預計息口即將上升，加上尚未完全通關，令投資市場表現仍一般，個別業主睇淡後市，願大幅降價放售物業。同時間，市場資金仍多，不少投資者一直部署入市，只待業主大幅減價，當個別物業明顯低市價1至2成放盤出現，即吸引投資者入市，反映市場資金仍充裕，日後若仍有「筍盤」出現，便容易獲吸納。

(經濟日報)

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