The market recorded 96,800 square feet of so-called ‘negative net absorption’ in June, ending an eight-month positive trend driven by quality upgrade, a property agency’s report shows

Vacancy rates in the Wan Chai-Causeway Bay and Tsim Sha Tsui areas both declined, bucking the trend in Central, Kowloon East and Hong Kong East

Hong Kong’s prime office market saw a slower take-up rate in June, halting an eight-month recovery built on quality upgrade after authorities eased pandemic curbs. Cheaper rents are likely to lure more tenants in the coming months.

New supply of grade A office space exceeded demand by 96,800 square feet, or so-called negative net absorption, a property consultancy said in its latest monthly report. As a result, the overall vacancy rate rose marginally to 9.4 per cent from 9.3 per cent in May, it added.

The market recorded 1.52 million sq ft in total positive net absorption between October 2021 and May this year, as companies including China Citic Bank, FedEx and flexible office space operator IWG signed up new leases, with the fifth wave of Covid-19 pandemic forcing office landlords to cut rents.

“It is normal to see take-up rate under pressure as the leasing market is disrupted by the pandemic,” a property agent said in a statement. “There are companies looking to expand in core business districts” given the discounted rents, the agent added.

Rents of grade A offices in Central, the city’s main business district, have plunged 28.3 per cent from the peak in 2019 to HK$57.30 (US$7.30) per square foot per month, according to data compiled by the agency. The vacancy rate in the CBD climbed to 7.9 per cent last month from 7.6 per cent in May, the latest report showed.

Hong Kong’s economy will continue to improve if the city’s Covid-19 situation remains under control, finance chief Paul Chan Mo-po said last month. The job market had stabilised and local inflation risks were low, he added. The local economy shrank 4 per cent in the first quarter, hurt by the fifth wave, travel curbs and tough quarantine rules.

Both the Wan Chai-Causeway Bay and Tsim Sha Tsui office markets bucked the general trend, as their vacancy rates slipped to 9 per cent and 10.2 per cent, respectively, the agency’s report showed. However, the former suffered a “relatively larger rental drop” while it was flat in Central, it added.

Hong Kong’s overall office property segment saw an all-time high vacancy rate of 9.8 per cent in September 2021, according to the agency’s data. However, office vacancy rates in Central, peaked at 8 per cent last December.

One of the transactions in June involved Fubon Life Insurance, which leased 12,350 sq ft of lettable floor area at 12 Taikoo Wan Road in Quarry Bay for relocation and expansion within the same building, according to the agency.

Earlier this year, IWG took up more space at the former Generali building on 8 Queen’s Road East in March. YF Life Insurance signed leases in Grand Century Place and The Gateway in February and FedEx expanded in Landmark East.

(South China Morning Post)

For more information of Office for Lease at 12 Taikoo Wan Road please visit: Office for Lease at 12 Taikoo Wan Road

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

For more information of Office for Lease at 8 Queen’s Road East please visit: Office for Lease at 8 Queen’s Road East

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

For more information of Office for Lease at Grand Century Place please visit: Office for Lease at Grand Century Place

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

For more information of Office for Lease at The Gateway please visit: Office for Lease at The Gateway

For more information of Grade A Office for Lease in Tsim Sha Tsui please visit: Grade A Office for Lease in Tsim Sha Tsui

For more information of Office for Lease at Landmark East please visit: Office for Lease at Landmark East

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

Sun Hung Kai offers steep discounts, deferred payment plans at Novo Land in Tuen Mun, yielding to first-home buyers’ demand for affordable housing

The first 165 flats in phase 1A at the Novo Land project in Tuen Mun were priced 12 per cent less than CK Asset Holding’s Grand Jeté project in the same area

Buyers of the 15 studio units at Novo Land will be entitled to pay by instalments

Sun Hung Kai Properties (SHKP) is selling its newest apartments in Hong Kong at double-digit discounts, and offering deferred payments to selected customers, becoming the latest developer to offer incentives to bow to first-home buyers’ demand for affordable housing.

The first 165 apartments in phase 1A at the Novo Land project in Tuen Mun were priced at an average of HK$13,188 per square foot, about 12 per cent cheaper than the launch price last month at CK Asset Holding’s Grand Jeté project in the same neighbourhood, according to SHKP.

That would price Novo Land’s flats at between HK$3.29 million and HK$7.64 million, for units of between 271 square feet and 561 square feet. Phase 1A, comprising 824 flats, is scheduled for completion in June 2023.

Buyers of the 15 studio units at Novo Land will be entitled to pay by instalments, beginning with 40 per cent of the home loan in the first three years, rising to 70 per cent in the fourth through sixth years, and 100 per cent from the seventh year under a 30-year loan tenure.

“The scheme aims to help young buyers climb the property ladder more easily,” said SHKP’s deputy managing director Victor Lui.

Novo Land comprises 4,585 apartments in six phases. The buyer of a HK$3.41 million studio can borrow up to 85 per cent of the flat’s value in a 30-year loan at 2.5-percentage point discount to prime rate (5 per cent), translating to HK$4,586 in monthly instalments for the first three years.

The monthly payments would rise to HK$10,980 per month in the next three years before increasing to HK$16,176 per month from the seventh year onwards, SHKP said.

The option of paying in instalments appears attractive, but the buyer ends up paying more in interest costs, an agent said.

“The purpose of these incentives is mainly to boost sales,” the agent said. “Buyers who opt for these deferred mortgage payments will face higher interest expenses than normal home loans.”

The total interest costs for the instalment payment plan will amount to HK$2.3 million, 110.7 per cent more than the HK$1.09 million expense in an immediate payment scheme, according to calculations by a mortgage brokerage services provider.

SHKP, the largest Hong Kong developer by market value, was not the only builder to throw discounts and easy – payment incentives to entice customers.

“More developers will sweeten their home loan schemes to fight for buyers in view of abundant supply of new flats this year,” a surveyor said.

Buying desire also weakened by the city’s interest rate rise, the surveyor said.

“More home seekers prefer to stay on the sidelines to assess the impact on the market,” the surveyor said.

Couture Homes, wholly owned by CSI Properties, extended the contract completion timeline for buyers of its Dukes Place duplex units at Jardine’s Lookout on Hong Kong Island to 999 days on Monday, eight times longer than the standard 120 days in the city.

The duplex units measure between 4,078 sq ft and 4,440 sq ft, and are being sold via tender. Last September, a 2,846-square foot duplex with two car-parking bays sold for HK$200 million, or HK$70,274 per sq ft.

(South China Morning Post)

次季甲廈錄負吸納 租金微跌

第2季本港甲廈租務表現平穩，惟仍錄得負吸納情況，而租金出現輕微下跌。

據一間外資代理行數據，縱使季內錄得為數不少的新租賃成交，第2季香港甲級寫字樓租賃市場依然錄得約17.7萬平方呎的負吸納量。當中，港島東的淨吸納量達負14.2萬平方呎，主要受該區有大型租戶縮減樓面及於區內調遷活動影響。

律師樓租約克大廈 3層

租賃成交方面，以美資律師樓進駐中環約克大廈 3層共24,800平方呎辦公樓。另外，銀行及金融業依然活躍，季內有信銀投資承租友邦金融中心超過20,000平方呎樓面，亦有大華銀行租用利園二期約18,600平方呎樓面。同時，租戶較以前更追求具彈性的租賃條款，造就共享工作空間和商務中心擴張，例如theDesk在第2季進駐了亞太中心共12,100平方呎辦公空間。

第2季本港甲級寫字樓整體租金比前季下跌0.8%，各區租金均呈下跌之勢，惟尖沙咀區和九龍東錄得輕微升幅，按季分別上升0.3%和0.2%。由於港島區租金跌勢持續，對企業來說目前核心商業區的租金較具吸引力，其中，中區和港島東租金按季分別跌1.1%和1.6%。

該行代理指，2022下半年將有約250萬平方呎甲級寫字樓面積推出市場，下半年新供應相繼落成將為租戶提供更多低成本的擴充和升級選擇。因此，預期下半年寫字樓租賃市場的吸納量將有健康增長，租金跌幅亦相對輕微。下半年將推出市場的甲級寫字樓面積中，港島非核心區已錄得數宗大型的預租成交，主要因為銀行及金融業和律師事務所看準市況，以較低租金擴充或升級辦公樓面，藉遷出核心區以收減省成本之效。

整體空置率升至9.4%

至於另一外資代理行最新發表的市場報告指出，香港整體甲級寫字樓市場在連續8個月錄得正吸納量後，於6月錄得96,800平方呎負吸納量。6月底整體市場的空置率微升至9.4%。中環空置率由7.6%升至7.9%，而尖沙咀空置率則回落至10.2%。

該行代理表示，由於疫情持續影響租賃市場，所以吸納量受壓屬正常現象。然而，部分公司仍然希望在核心商業區擴張，中環甲級寫字樓租金比2019年的市場高位期下降了28.3%，對租戶極具吸引力。該代理指，上月較矚目的成交為富邦人壽於鰂魚涌太古灣道12號 (前稱太古城中心四座) 商廈內搬遷並擴張，租用12,350平方呎樓面。

租金方面，6月整體甲級寫字樓市場租金按月微跌0.1%。主要分區市場中，中環租金保持平穩，而灣仔/銅鑼灣錄得相對較大租金跌幅。盡管如此，各分區市場的租金變幅仍較為輕微。

(經濟日報)

更多約克大廈寫字樓出租樓盤資訊請參閱：約克大廈寫字樓出租

更多友邦金融中心寫字樓出租樓盤資訊請參閱：友邦金融中心寫字樓出租

更多中環區甲級寫字樓出租樓盤資訊請參閱：中環區甲級寫字樓出租

更多利園寫字樓出租樓盤資訊請參閱：利園寫字樓出租

更多銅鑼灣區甲級寫字樓出租樓盤資訊請參閱：銅鑼灣區甲級寫字樓出租

更多亞太中心寫字樓出租樓盤資訊請參閱：亞太中心寫字樓出租

更多尖沙咀區甲級寫字樓出租樓盤資訊請參閱：尖沙咀區甲級寫字樓出租

更多太古城中心寫字樓出租樓盤資訊請參閱：太古城中心寫字樓出租

更多鰂魚涌區甲級寫字樓出租樓盤資訊請參閱：鰂魚涌區甲級寫字樓出租

協成行沽北角海峰園車場 「磁帶大王」2.18億承接

北角海峰園停車場，由老牌家族協成行持有收租逾30年，最新以2.18億售出，買家為「磁帶大王」陳秉志，平均每個車位約183萬。

市場消息透露，北角福蔭道1至5號海峰園停車場共119個車位，由「磁帶大王」陳秉志承接，陳氏接受本報查詢時回應，看好海峰園住宅、車位比例為8比1，預期需求殷切，項目有水位，短期有機會拆售，並保留部分作長綫收租。

陳秉志：將拆售部分車位

海峰園由太古地產發展，是次沽售車場的為協成行，早於1991年斥資3050萬向太古購入車場，持貨31年，獲利1.875億，物業升值6.1倍，海峰園設3幢住宅大廈，提供924伙，車位合共119個，預期屋苑住客或周邊工商區用家，對車位有需要。該車場尚未有拆契，陳秉志需為整批車位作分契程序，才得以拆售。目前，該車場由威信停車場承租，月租約50萬。

持貨31年升6.1倍

陳秉志在疫市下多番出手，去年12月，他斥資1.64億買入西環德輔道西面積逾萬呎巨鋪，去年11月，夥拍投資者蔡志忠，向新世界購入荔枝角美孚新邨一籃子鋪，作價4.55億。

過往，他一直活躍於投資市場，曾投資逾億買入北角柯達大廈一期全幢，購入嘉湖新北江商場二樓，並作拆售，多年來，他夥拍不同投資者購入大型民生商場，2016年與「小巴大王」馬亞木、林子峰合作，以11.5億投得青衣長康商場，去年更斥資13億向鄧成波家族購買葵涌安蔭商場及荃灣石圍角商場。

(星島日報)

葵涌泉基工廈逾6.5億易手 鄧成波家族沽售 涉逾72.53%業權

市場再有大手工廈醞釀中，「鋪王」鄧成波家族持有的葵涌泉基工業大廈72.53%業權，以逾6.5億易手，平均呎價3869元，該家族持貨3年，物業升值14%。

市場消息透露，葵涌泉基工業大廈72.53%業權，今年初放售，意向價7億，物業獲多家財團洽商，最新有財團出價逾6.5億，業主已落實將物業售予該名買家，只要完成盡職審查程序，即可交予新買家，該批物業總建築面積約16.8萬方呎，以涉資6.5億計算，平均呎價約3869元。

陞域集團：不作回應

本報昨日就上述消息向鄧成波孻仔鄧耀昇旗下陞域集團作出查詢，該集團發言人對消息不作回應。

據了解，目前該物業部分樓面連約，部分交吉，買家認為進可攻，退可守，物業可作長綫收租，日後更有統一業權作重建，重建發展的可能性。泉基工業大廈坐落於健康街15至23號，於1977年落成，樓高15層，佔地約2.5萬方呎，設有4部運貨電梯，以及一部客梯，並提供大量車位及設有一個貨櫃車上落貨設施。該家族於2019年開始購入上述物業，總成本約5.7億，持貨逾3年，若以6.5億售出，帳面獲利8000萬，物業升值14%。

持貨3年升值14%

「鋪王」鄧成波於去年中離世後，該家族持續沽貨，早前該家族放售的一籃子物業清單，包括住宅、工廈、商鋪等物業，共涉30項，合共意向價高達70億。該家族早前以沽售旗下深井服務式住宅汀蘭居全幢，作價14.2億，持貨5年帳面蝕讓2.6億，買家為恒基四叔李兆基女婿、華大酒店主席兼執行董事鄭啟文旗下公司。

此外，該家族早前亦以3300萬售出荃灣牛津工業大廈4樓全層，呎價僅2536元，持貨4年帳面雖獲利300萬，扣除代理佣金及印花稅等開支，料約平手離場。

有代理表示，火炭坳背灣街38至40號華衛工貿中心低層單位，面積約2119方呎，剛以呎價約3987元售出，成交價約845萬，交吉交易，新買家為投資者，原業主於2022年5月以約725萬購入後隨即在市場提價放售，持貨僅2個多月，單位升值約16.5%，帳面獲利約120萬。

(星島日報)