Hong Kong’s Goldin Financial Global Centre has sold after a two year struggle over the Kowloon East office tower.
A
social media post by a property consultancy, which has been managing a
tender of the 28-storey building on behalf of creditors stiffed by
defaulting mainland conglomerate Goldin Financial declared the sale on
Wednesday evening without providing details on pricing or the identity
of the buyer.
Local
press reports have cited deal amounts of between HK$6.8 billion ($866
million) to HK$7.0 billion for the 852,501 square foot (79,200 square
metre) tower, pricing the deal at HK$7,977 per square foot or more.
Mingtiandi was not able to independently verify financial details of the
transaction.
At the
reported HK$6.8 billion price, which some analysts believe to be
optimistic, the 2016-vintage, grade A asset would be selling for around
44 percent below the HK$12 billion minimum set in an initial tender
commenced in September 2020 after the property was seized by receivers
in July of that year.
In December of 2019 Goldin Financial had valued the Leed Platinum building then used as its headquarters at HK$18.3 billion.
Game Over
At
the reported price, the sale should provide relief to holders of HK$6.8
billion in senior notes issued by Goldin in April of 2019 and with
Deutsche Bank affiliate DB Trustees (Hong Kong) Ltd acting as trustee.
After
a series of record-setting land buys in Hong Kong, Goldin defaulted on
the notes, which were backed by a trust deed on the Goldin Financial Global Centre, and receivers were appointed to redeem the asset.
In
late 2020, in a move seen by some observers as an attempt to block the
receivers’ tender of the building, Goldin announced that a businessman
under the name “Fong Tim” had agreed to buy the building at 17 Kai
Cheung Road in Kowloon Bay, stalling moves by creditors. When that sale
failed to proceed, and after a protracted legal battle was declared
void, the purported buyer was forced to forfeit a HK$2.03 billion
deposit.
A fresh tender
for the building was launched in May, with media reports earlier this
month naming local development giant Nan Fung as the buyer.
Representatives of the property consultancy earlier denied naming Nan
Fung as the buyer and today declined to provide further details on the
sale. Inquiries to Nan Fung went unanswered at the time of publication.
Down Market
At the reported price, the sale of the Goldin Financial Global Centre
would mark the largest single asset transaction in Hong Kong’s real
estate market so far this year, as rising interest rates and an economic
slowdown in China have undermined the world’s most expensive commercial
real estate market.
Reported
to be 30 percent vacant in May of this year, Goldin’s erstwhile trophy
has struggled as a high-specification building in a secondary location
within the emerging Kowloon East commercial hub at a time when occupiers
have been cutting back their footprints and investors have been keeping
their checkbooks locked away.
From
March 2019 through March 2022 Hong Kong’s grade A office market
contracted by 3.1 percent according to a report released this month by
another property consultancy, with the total area of desk space occupied
in the city shrinking by 2.3 million square feet, or the equivalent of
three major office towers.
“Since
mid-2019, company downsizing has been a prominent trend and led to
substantial contraction in total occupied space and record-high vacancy
in Hong Kong’s Grade A office market, triggering the longest and deepest
downturn as a result,” the consultancy said in a statement.
(Mingtiandi)
For more information of Office for Lease at Goldin Financial Global Centre please visit: Office for Lease at Goldin Financial Global Centre
For more information of Grade A Office for Lease in Kowloon Bay please visit: Grade A Office for Lease in Kowloon Bay
Three big deals for handsome homes struck
A member of "King of Jeans" Tony Lau Hon-chung's family appears to be the new owner of a highly desirable house on The Peak.
The
property is 3B of Gough Hill Residences with an area of 4,299 square
feet, which was put up for sale by Kimbee Lau Chan Hoi-wan, the chief
executive of Chinese Estates (0127) and wife of Joseph Lau Luen-hung.
Featuring a garden and swimming pool of 5,314 sq ft and a rooftop of
1,717 sq ft, the house was put on sale for HK$600 million, or HK$14,000
per square foot, in October 2021.
It had been bought for HK$180 million in 2009 by an overseas registered company, Active City.
According to the Hongkong and Shanghai Banking Corporation, a mortgage loan for the house was sought by Anthony Lau Chi-sing.
Anthony Lau is also the sole board director of Active City now that Joseph Lau and Kimbee Lau have quit.
Tony
Lau is also the brother of former legislator Sophie Leung Lau Yau-fun,
who purchased a house at 16 Repulse Bay Road for HK$160 million in 1999
from Chinese Estates, in which Joseph Lau and his wife have controlling
interests.
Meanwhile, Hong Kong celebrity Wong Cho-lam has sold a luxury home in Tai Po for HK$45.8 million, or HK$27,005 per sq ft.
The four-bedroom unit in Mayfair By The Sea has a floor area of 1,696 sq ft and a garden of 928 sq ft.
Wong made 23 percent more from the deal, having bought the property for just over HK$37 million in 2016.
Another
big deal involves the family of Yeung Yiu-chung, the late "King of
Industrial Buildings," who last month bought a home at Leighton Hill,
Happy Valley for HK$102 million, or HK$59,165 per square foot.
The Yeung family paid HK$30.6 million with 30 percent stamp duty for the property that has a floor area of 1,724 sq ft.
Meanwhile, the primary market remains hot with developers attracting buyers to two new projects.
The
second phase of One Innovale, built by Henderson Land Development
(0012) in Fan Ling, has drawn more than 2,200 checks for 193 units on
the first three price lists, making the batch 11.4 times oversubscribed.
And
Wetland Seasons Bay in Tin Shui Wai was about 23 times oversubscribed
after developer Sun Hung Kai Properties (0016) received 1,870 checks for
the 80 flats on offer.
(The Standard)
4,500 flats to go on sale at less than half market value under Hong Kong housing scheme, amid fears nano units will not sell
Chairwoman of authority’s subsidised housing committee remains hopeful shoebox flats will sell, others are less optimistic
Around 10 per cent of units on sale are shoebox flats, smaller than 230 sq ft
More
than 4,500 subsidised flats in Hong Kong will be offered to buyers at
less than half their market value next week, but a concern group has
warned that demand for the smallest homes is expected to be weak.
The
Housing Authority on Wednesday said 4,693 flats, ranging in size from
184 sq ft to 489 sq ft would go on sale under the Green Form Subsidised
Home Ownership Scheme starting on September 29. About 10 per cent of the
flats are smaller than 230 sq ft.
Cleresa
Wong Pie-yue, chairwoman of the authority’s subsidised housing
committee, said the proportion of small flats in the latest round had
been reduced and she remained hopeful buyers would be interested.
“I
cannot say there is a zero chance of a sales slump, but these small
flats are of better quality, with easy access to railway stations
nearby,” she said.
“Despite
an increase in interest rates, these flats are cheaper … even though
the economy is not booming, some residents will still be interested.”
The
flats will be sold at a 59 per cent discount on the market price, and
range in price from HK$750,000 (US$95,000) to HK$2.71 million. The
application process will run until October 12, with the lottery to be
held in the fourth quarter.
Subsidised
nano flats sold slowly previously. More than 780 offered by authority
previously went unsold for more than a month last year, with over 500 of
them left over from 2020.
According
to the authority, 160 homes at Kam Pak Court in Ma On Shan measure
about 184 sq ft, while 387 at Ko Wang Court in Yau Tong range from 185
sq ft to 223 sq ft. The rest of the 3,370 units at the two estates and
the 776 flats at Ching Tao Court in Fanling fall between 277 sq ft and
489 sq ft.
But
Thomas Wong Ka-ki, community officer with the Federation of Public
Housing Estates, said he was less optimistic that demand for the shoebox
flats would be high.
“These
two estates have flats under 180 sq ft. I believe that the applicants
will find them less attractive. The advantage is that they are located
closer to railway stations so single applicants may be willing to
purchase them … I think these flats will take time to be sold out,” Wong
said.
He
added that buyers’ enthusiasm might not be affected by the sluggish
property market as they tended to purchase flats for self-use.
But
Wong noted that buyers could only resell their flats five years after
the purchase, a tightened requirement from the previous two years,
saying this could make them more cautious in making decisions.
He
urged the government to review the subsidised housing policy by setting
a minimum flat size requirement of 280 sq ft, resembling the rule for
the private market, while keeping the proportion of small flats to about
one-fifth of the total supply in each batch.
“If
these subsidised flats are small in size, applicants with three to four
members will not be willing to move out of their rental housing and
purchase them,” Wong said.
Launched in 2016, the scheme aims to sell subsidised homes to tenants of public rental housing.
(South China Morning Post)
九龍灣高銀金融國際中心全幢逾65億沽 今年以來最大宗 財團趁疫市「低撈」
疫市下大手買賣暢旺,九龍灣高銀金融國際中心早前招標,經過第二輪角逐後,終於落實出售,市場消息指作價逾65億,成為今年以來暫錄最大宗買賣,平均呎價7800元,低市價逾25%,可見買家趁疫市「低撈」。
九龍灣高銀金融國際中心放售多時,去年曾經「成功」出售,最後未如期成交,該幢商廈於今年5月再度推出招標,入標除了發展商、還有外資基金及用家,並於上月底第二輪角逐截標後,最終剛落實出售 市場消息指出,該全幢作價逾65億,為今年以來最大宗買賣,該宗交易亦是去年由億京合組財團,以約105億購入九龍灣國際展貿中心後,區內再錄矚目的大買賣。
每呎約7800元低25%
市場人士分析,若以該廈總樓面82.5萬方呎計算,平均呎價逾7800元,九龍灣甲廈成交呎價普遍由約1萬至逾1.2萬,相比之下,高銀金融國際中心較最低呎價低約25%,可見買家趁疫市「低撈」,該廈現時出租率約60%,呎租介乎27至33元,回報逾4厘。
高銀於2011年7月以34億投得該商業地皮,並於2016年入伙,作為集團總部及收租用途,近兩年來,高銀金融陷入財困,曾多次抵押該廈,包括新加坡主權基金GIC、德意志銀行及發展商南豐,都是債權人,於2020年7月遭優先抵押票據持有人 (GIC及德意志銀行) 委任的接管人Borrelli Walsh入稟,要求接管高銀金融國際中心,並於同年9月,物業被接管人委託標售,其後高銀金融公布以143億向商人FONG Tim出售物業,但未有如期成交。
直至本年5月,物業再由接管人委託測量師行標售,當時,負責招標的測量師行曾指,物業相關法律爭議已獲裁決,故成功出售機會甚高。
連約回報逾4厘
有代理形容,買家趁疫市下「買得抵」,高銀金融國際中心寫字樓平均呎租約30元,回報甚高,該廈位處單邊,建築具特色,里外都特別闊落,況且,九龍灣商廈租戶都是大公司,在此設立後勤部門,區內規劃佳,街道不塞車,未來發展潛力看高一綫。
(星島日報)
更多高銀金融國際中心出租樓盤資訊請參閱:高銀金融國際中心出租
更多九龍灣國際展貿中心寫字樓出租樓盤資訊請參閱:九龍灣國際展貿中心寫字樓出租
更多九龍灣區甲級寫字樓出租樓盤資訊請參閱:九龍灣區甲級寫字樓出租
觀塘項目料獲城規「開綠燈」 市建申請放寬商業限制具彈性
市建局觀塘市中心重建計畫第4和第5發展區,本月初共收24份意向書,料快將推出招標;該項目早前向城規會提交修訂申請,調整酒店、寫字樓及商業零售組合比例,增加項目發展彈性,容許中標發展商視乎需要「變陣」,包括可放棄興建酒店等,惟整個項目可建總樓面維持約216.59萬方呎不變,最新獲規劃署不反對,城規會將於周五
(23日) 舉行會議審議,料會「開綠燈」通過。
規劃署指,考慮到相關決策局
/
部門的意見,以及區內現有及規劃中的酒店可滿足需求,而容許靈活提供酒店的建議未必不合理,而且規劃意圖是增強活力和改善重建區環境;另外擬議修訂屬於技術性,並且批准方案下的布局和整體建築體積和建築形式將被保留,認為是次方案不太可能對視覺和空氣通風造成重大不利影響。
昨獲規劃署不反對
上述觀塘市中心主地盤第4及第5發展區項目位於新盤凱滙對出,毗鄰港鐵觀塘站,地盤面積約26.5萬方呎,包括約26.25萬方呎政府土地。以地積比8.17倍發展,興建2幢樓高13至64層、另有5層地庫的綜合商業大樓,可建總樓面約216.59萬方呎;商業用途分布相當有彈性,最大修訂為酒店部分由指定興建約34萬方呎,修訂為不設樓面面積下限至最多34.44萬方呎,意味中標財團可選擇不興建酒店或最多提供400間酒店客房。
月初已收24份意向書
其次,寫字樓部分由列明須興建約70萬方呎樓面,最新修訂為70.89萬方呎至137.37萬方呎。最後商業用途樓面 (商店及服務行業、食肆、娛樂場所及教育機構),零售部分由原來指定須興建約100萬方呎樓面,最新修訂為69.97萬方呎至102萬方呎。另項目亦設有約7.08萬方呎政府、機構或社區設施樓面,及提供約2.18萬方呎的公共交通交匯處。
資料顯示,該項目已於本月7日截收意向書,當時共收約24份意向書,據了解,已知有遞交意向書的財團包括長實、新地、恒基、信和、會德豐地產、鷹君、華懋、遠東發展及中國海外。
可放棄興建酒店
整個觀塘重建項目早於2005年展開,項目第1期為前觀塘 (月華街) 巴士總站,由信和重建為住宅項目觀月.樺峯,涉299伙;而第2至3期則為信和夥拍華人置業發展的商住項目凱滙,涉及1999伙。
另外,在商業氣氛不景氣下,早前啟德多幅商業地均流標收場,城規會將啟德區5幅商業地改劃發展,有3幅成功改劃作住宅發展,惟跑道區4C區4號及4C區5號兩幅商業地,則未能通過改劃發展,合共可提供147.54萬方呎商業樓面。
(星島日報)