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CKA throws hat in ring for troubled Corniche project


CK Asset (1113) has reportedly talked to HSBC (0005) to acquire the creditor's rights of The Corniche in Ap Lei Chau, an ultra-luxury residential project co-developed by Logan Group (3380) and KWG Group (1813).

The three-year debt is HK$10.2 billion worth of mortgage held by a syndicate of banks including HSBC, Standard Chartered (2888), and Industrial and Commercial Bank of China (Asia) to finance the project construction in 2021.

CK Asset may hinder the two cash-strapped mainland developers' ongoing offshore restructuring plans, since the syndicated loan is within the scope of the planned restructuring as an important credit enhancement item, Chinese media outlet Yicai said, citing sources related to Logan and KWG. The sources added that the two companies are worried that if the debt is transferred, CK Asset will oppose them to restructuring debts, forcing The Corniche to be auctioned and leading to a change of ownership.

Logan and KWG may fail to restructure the offshore debts totaling US$10 billion (HK$78 billion) if they lose the ownership of The Corniche, which is estimated at roughly HK$30 billion in valuation, sources told Yicai. The companies may fail to ensure timely delivery of presold homes and other normal operations, sources added.

Out of the 295 units of 1,340 to 9,633 square feet in The Corniche, only three have been sold since sales began in January.

The developers have pocketed around HK$534 million from the flats which each sold for HK$164 million to HK$185 million. This equates to about HK$50,000 per square foot, which is nearly 79 percent more expensive than Hong Kong's benchmark luxury property Bel-Air, according to a property agency. Logan and KWG each own 50 percent of The Corniche, after they paid a record HK$16.8 billion for the land in overlooking the South China Sea. That translates to HK$22,188 the land premium per square foot of floor space.

Back in early June, Bloomberg reported that there are potential buyers interested in acquiring the syndicated loan of The Corniche, although sources close to the syndicate said they did not consider selling the loan.

In last August, Logan Group announced that it would suspend the payment of interest due on several overseas debts, and subsequently launched an offshore debt restructuring.

(The Standard)

 

Henley Park rolls out 80 more flats

Henderson Land Development (0012) has released the second price list for Henley Park in Kai Tak, which offers 80 units, including 12 special units, at an average price of HK$22,148 per square foot after discounts.

That is about 5 percent costlier than the first batch of HK$21,088 per sq ft, but a general manager of Henderson's sales department Thomas Lam Tat-man, said the average price of the 68 standard units was HK$21,416 after discounts, which was just 1.5 percent higher than the previous batch.

That compared to an average discounted price of HK$24,333 and HK$28,200 in the first batches of The Henley II and The Henley III, respectively -- Henderson's projects nearby whose sales were kicked off last year.

The latest batch for Henley Park comprises homes that are sized from 250 to 649 sq ft. They have up to three bedrooms and are priced from HK$5.31 million to HK$17.24 million after markdowns, or from HK$19,788 to HK$27,498 per sq ft.

Henderson has received 2,405 checks as of 8.30pm last night for Henley Park, which was viewed by 22,000 visitors over the weekend.

Meanwhile, a rebound was seen in the secondary market with a total of nine transactions recorded in 10 major housing estates over the weekend, up by 4, or 80 percent from a week ago, according to the property agency.

An agent that the primary market was relatively less active on the weekend, which helped stimulate the second-hand market transactions to some extent.

The agent said the US Federal Reserve's decision to temporarily pause the interest rate hike has slightly boosted potential buyers' confidence in the market, and Hong Kong's plan to fine-tune measures to help buyers purchase homes for self-use was also positive news for the market.

(The Standard)

 

葵涌新都會廣場呎價10727元售 持貨近8年升值21%

近期商廈不乏成交,葵涌新都會廣場一個高層單位,建築面積約1445方呎,以每呎約10727元易手,物業於8年間升值21%。

葵涌新都會廣場2座高層12室,建築面積約1445方呎,以每呎約10727元易手,作價1550萬,新買家購入物業,需要支付釐印費,原業主於2015年8月以1280萬購入上址,持貨接近8年,帳面獲利270萬,物業升值21%。

2019年呎價高達1.36

原業主於2015年8月購入該單位,當時商廈價格尚未大升,及後數年商廈價格大幅攀升,直至2019年達致高峰,新都會廣場單位最高呎價見13630元,現時造價較高位下跌約20%。

有代理表示,葵涌梨木道63至71號中僑貨倉大廈高層,全層建築面積約12561方呎,業主意向價約3000萬,平均呎價約2388元,目前由物流公司承租,月租約10萬,現連約出售,料回報達4厘。

中僑貨倉每呎2388元放售

該代理續說,該廈自設停車場及貨台,數年前已完成維修工程,更換全部客貨電梯,既可減省成本,又能提升日常運作效率;加上單位採用無橫樑設計,適合物流運輸行業進駐。

(星島日報)

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投資者重新追貨 減息訊號成關鍵

凱龍瑞何震東:工廈需求強 看好前

投資市場轉淡靜,凱龍瑞中國香港首席執行官何震東表示,高息環境影響投資意慾,他認為基金特色是市好市差亦要尋寶,只要市場出現利息回落訊號,各路資金便會偷步入市,又認為工廈需求強兼有新經濟及科技配合,睇好前景。

近月大手非住宅物業買賣市場淡靜,據一間外資代理行數據,上半年僅錄31宗逾億元非住宅買賣,較去年同期跌45%。事實上,息口近期明顯向上,HIBOR近期升穿5厘,令非住宅買賣進一步淡靜。何震東指,「息口與物業投資關係密切,美國維持高息,英國日前亦加息,令大家投資意慾減低。畢竟投資成本上升,對租金回報有更高要求」。

他預計,市況淡靜或持續一段短時間,至於何時轉好,他謂息口是關鍵因素,但不一定是息口正式下跌才會引發入市熱潮。他指,待出現轉角位,開始有風聲將減息,雖然速度料未必快,而短期間亦難降至一年前低息水平,但只要有訊號減息,投資者睇未來,便重新考慮追貨。

資金上,他謂香港資金暫算充裕,通關後中資來港入市個案不多,相信後市仍要睇內地經濟復甦情況。何震東表示,即使目前市場存在不利因素,仍會積極物色投資機會,「入市步伐比以前慢,現階段一方面繼續發展自家物業,以及做好資產管理。同時間,樓市始終是循環,市好市差也要尋寶,這是基金特色,進行控制成本及為物業增值」。

在多項物業中,他較看好工廈前景,特別涉及凍倉、物流業務的物業,前景亮麗。他表示,現時工業出租率高,而在疫情令不少市民生活習慣改變,增加網購,其中涉及冷藏如食品、藥物等需求上升。此外,中資亦對新經濟相關產業如數據中心等作投資,因此看好工廈前景,現時仍正物色及洽購,短期內有機會成事入市。

集團亦有工廈項目發展,鄧成波家族去年以約4.33億元,沽出葵涌永昇工業大廈約9成業權,集齊業權後,將進行重建發展凍倉,需時約一年半,透露將會是一幢新型的工廈,「有別於傳統倉庫,將有很多機械人自動化操作,配合科技」。

中資港上市 商廈需求穩

另外,集團2020年以9.65億元購入長沙灣恆發工業大廈全幢,並與大廈原業主進行合作,興建1幢27層高的新式工廈,涉及總樓面約22.8萬平方呎,他指項目在第三季尾進行發售,涉及逾166伙,面積約千餘平方呎起,預計入場呎價約8千至9千元。

至於商廈方面,目前整體寫字樓空置率偏高,何震東指,疫情後不少人改變工作模式,租用寫字樓需求上與以往不同,而今年亦是供應高峰,「新落成商廈散落各區,除了中區外,港島東、啟德亦有新供應,要消化實在需時」。需求層面上,他謂開始穩定,「去年曾有外資機構遷往新加坡,現時情況穩定了。預計仍有不少內地企業來港上市,商廈需求還要視乎香港金融市場是否重新活躍,吸引投資機會」。

他強調,面對寫字樓供應多,故旗下項目,分別有不同定位吸納買家。如集團去年推出灣仔軒尼詩道全新商廈「333 HENNESSY」,物業高23層,地下至10樓為商舖用途,11至23樓為商業用途,以全新現樓發售。目前部分單位沽出,呎價約1.8萬至2萬元,他謂近期一些單位獲醫生購入自用,反映用家仍有承接力。另集團早年以9.62億元,購入上環永樂街舊樓項目,發展成全新商廈「88WL」,現已落成並進行招租,他指項目定位為綜合用途,既有可作半零售及餐飲,亦可作傳統辦公室用途。

(經濟日報)

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長實傳向銀團 洽購凱玥102億貸款

合景泰富 (01813) 和龍光集團 (03380) 打造的鴨脷洲豪宅凱玥,昨日有內地媒體報稱,長實 (01113) 向承造項目銀團貸款銀行之一的滙豐 (00005) 接洽,希望接手涉及的102億元貸款。發展局方面則指未有回應。

凱玥前身是龍光與合景泰富於2017年2月動用168.56億元投得鴨脷洲利南道臨海地,每平方呎樓面地價2.2萬元,當時是香港賣地史上造價最貴地皮。

由兩間發展商組成的合資公司,最初在2018年向恒生 (00011) 取得105.75億元融資貸款,去到2021年再向大華銀行、滙豐、渣打等銀行再融資取得102億元銀團貸款。

早在今個月初,已經有外媒指,有財團有意洽購該筆貸款的權益,直至昨日再由內地媒體《第一財經》引述知情人士稱,是由長實與滙豐接洽。而合景就有關傳媒未有回應。

現時凱玥總數提供295個單位,全部屬於逾千平方呎的豪宅單位,暫時僅沽出3伙,實用呎價均高達5萬元,每伙成交作價1.64億至1.85億元不等,估計套現涉資逾5億元。

(經濟日報)

 

華廈工廈取消強拍 太地證實統一業權

太古地產 (01972) 持有大部分業權的鰂魚涌華廈工業大廈,原定本月28日舉行強拍,底價51.25億元,勢創本港強拍底價最貴項目;然而,有關拍賣會突然宣告取消。太古地產發言人證實,已就餘下單位的業權作出收購,待有關收購完成後,將擁有所有業權,毋須透過強拍統一項目業權。

餘下單位7月前完成收

原定於本月28日上午11時舉行強拍的華廈工業大廈,有外資代理行獲委託為拍賣人,據悉,有關拍賣會已經取消。

本報向該廈大業主太古地產查詢有關強拍取消的原因,太古地產發言人表示,已就華廈工業大廈餘下單位或業權作出收購,並與有關業主簽署臨時買賣合約,預計今年7月前完成有關買賣交易。待有關交易完成後,太古地產將擁有華廈工業大廈全部業權,毋須透過強制拍賣競投該大廈用地。

華廈工業大廈位於船塢里8號,是一幢20層高的工業樓宇,佔地約2.71萬方呎,於1972年落成,樓齡約51年。

太古地產於2018年向土地審裁處申請強拍該工廈,當時共持有約81.6%業權。該集團及後成功購入個別單位,惟仍有2個地廠單位及約7個樓上工廈單位一直未能成功購得。根據判案書,太古地產自2018年初至去年5月,先後4次向受影響的小業主提出收購建議,可是仍收購不果。

土地審裁處最終在今年5月批出華廈工業大廈的強制售賣令,底價高達51.25億元,成為歷來獲批准強拍的個案中底價最貴的一個項目,原定本月28日舉行強拍,結果在強拍舉行前成功統一業權。

太古地產現時也持有與華廈工業大廈毗連的英皇道1067號仁孚工業大廈,該廈去年2月獲土地審裁處批出強制售賣令,底價約50.53億元,僅餘8樓及14樓未能成功購入。可是在強制售賣令發出後,兩層單位原業主先後願意割愛,令太古地產同樣毋須透過強拍成功統一業權。

太古地產計劃把華廈工業大廈與仁孚工業大廈一併重建發展,總樓面面積約77.9萬方呎,作為寫字樓及其他商業用途。

(信報)