Subdued office rentals hit Swire Properties, while sluggish residential sales do the most damage to Wharf
Sluggish property markets
in Hong Kong and mainland China are pulling down the bottom lines of
the city’s largest companies, with both Swire Pacific and Wharf
(Holdings) reporting less than stellar first-half results.
Swire Pacific reported a 7
per cent decline in first half profit to HK$3.91 billion (US$501
million), according to a filing with the Hong Kong stock exchange on
Thursday.
Meanwhile, Wharf said it
swung to a loss of HK$2.63 billion in the first half from a profit of
HK$696 million in the same period in 2023.
The subdued office rental
market hit Swire Pacific’s property unit Swire Properties, where
underlying profit fell 8 per cent year on year to HK$3.57 billion.
Meanwhile, sluggish homes sales did the most damage to Wharf, as
residential-segment revenue in mainland China fell by 25 per cent to
HK$2.5 billion.
Swire Properties, one of
Hong Kong’s largest commercial landlords, cited “oversupply and weak
demand” as twin challenges besetting the city.
“Amid an uncertain
economic landscape, [corporations] are exercising caution in their real
estate decisions,” said Guy Bradley, Swire Pacific chairman.
Swire Properties’ gross
rental income for its office portfolio dropped 7 per cent year on year
in the first half to HK$2.57 billion, according to Tim Blackburn, the
developer’s CEO. As of June, total occupancy of its offices stood at 89
per cent.
Excluding the developer’s newest buildings, the office portfolio was 93 per cent occupied, Blackburn added. Two Taikoo Place, completed in September 2022 is 62 per cent leased, and Six Pacific Place, finished in February 2024, is at 44 per cent occupancy, he said.
“With continued new
office supplies coming to the market, coupled with weak demand, office
rental remained under pressure,” Blackburn said. “Despite these
challenges, our office portfolio has remained resilient.”
Meanwhile, gross income
in Swire Properties’ Hong Kong retail segment fell 3 per cent to HK$1.19
billion. Occupancy has returned to 100 per cent, but mall retail sales
were lacklustre, with Cityplaza in Taikoo Shing recording a 4.3 per cent
slide, while Citygate Outlets in Tung Chung dropped 2.6 per cent.
Swire-controlled Cathay
Pacific Airways reported on Wednesday that net profit shrank 15.3 per
cent to HK$3.61 billion in the first six months, as airfares descended
from abnormal heights in the year-earlier period.
“In the second half of
2024, we will continue to build on our strengths,” Bradley said. “Our
businesses are well-positioned to cope with any immediate adversity and
economic challenges, and our long-term focus on investing in our core
markets remains unchanged.”
“A gradual improvement in
sentiment” towards the end of the year is expected if interest rates
are reduced in September, Blackburn said at a media briefing.
However, “recovery in the
Hong Kong office market is going to take take some time based on
current vacancy rates and new supply”, he added.
The conglomerate “will
also continue to look for opportunities to invest” in the Greater Bay
Area, Bradley said, after it signed an agreement with the Shenzhen
government in June to cooperate in areas such as retail, conferences and
exhibitions, and aviation. The bay area refers to Beijing’s push to
link Hong Kong, Macau, and nine mainland cities in the Pearl River Delta
into an integrated economic hub covering a total population of more
than 86 million.
At Wharf, overall office
property revenue declined by 4 per cent to HK$2.32 billion and hotel
revenue slipped 2 per cent to HK$291 million in the first half.
Logistics revenue fell 12 per cent to HK$1.07 billion due to “lower
throughput in Hong Kong and unfavourable business mix in mainland
China”, the company said in a filing.
Mainland office occupancy
was depressed owing to “defection to lower grade properties as well as
business downsizing and/or closure”, the company said. Rents were also
soft, it added.
“The business outlook
remains clouded by economic uncertainties and volatility,” Wharf said,
citing US interest rates, global trade and geopolitical risks, and, in
China, high leverage and inventory in the property sector, subdued
consumer sentiment and an elevated savings rate.
“In Hong Kong, the strong
local currency and tight financial conditions are hindering the
economic recovery. The group will remain prudent in financial management
and seize opportunities to drive business performance amid economic
headwinds.”
(South China Morning Post)
For more information of Office for Lease at Two Taikoo Place please visit: Office for Lease at Two Taikoo Place
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 Pacific Place please visit: Office for Lease at Pacific Place
For more information of Grade A Office for Lease in Wan Chai please visit: Grade A Office for Lease in Wan Chai
Hong Kong-listed Techtronic executive emerges as buyer of 3 villas on The Peak: sources
Stephan
Horst Pudwill is said to be the buyer of 99, 101 and 103 Peak Road,
according to a source. The villas, which range from 4,627 to 5,067 sq
ft, fetched HK$860 million
An executive with ties to
a Hong Kong-listed company has emerged as the buyer of three houses on
The Peak, the second such distressed sale in weeks by the beleaguered
owners in the upmarket district, according to sources.
Stephan Horst Pudwill,
the vice-chairman of power-tools maker Techtronic Industries, has bought
99, 101 and 103 Peak Road, which were put up for sale by the family of
Ho Shung-pun, a low-key clan of real estate developers, one of the
sources said.
Pudwill is currently the
tenant of one of the three houses, said another source, who did not want
to be identified for discussing a private matter.
The houses were sold for a
combined HK$860 million (US$110.4 million), local media reported late
last month, without disclosing the buyer’s identity.
In reply to the Post’s
query to verify the property purchase, Techtronic said it will not
comment on personal matters. On Tuesday, Techtronic posted a 15.7 per
cent year-on-year jump in first-half profit to US$550 million, according
to its interim report.
The proceeds from the
sale of the three town houses, ranging from 4,627 to 5,067 sq ft, will
be partially used to repay a HK$1.6 billion private loan extended to the
Ho family by Gaw Capital and due in January 2025, one of the sources
said, adding that the loan carries an interest rate in the “teens”.
In addition to the three
villas, the Ho family had also pledged as collateral four more houses at
46 Plantation Road on The Peak, the source added.
Although the four houses
were sold on July 9, the deal was concluded only recently, with the
buyer emerging as Yeung Kin-man, the founder and chairman of Biel
Crystal Manufactory, the world’s largest producer of smartphone screen
glass, according to Land Registry records on August 1. The deal was
transacted at HK$1.1 billion.
Ho, who is in his 80s, is
a former mathematics professor at the Hong Kong Polytechnic University.
He and his relatives are the directors of Kowloon Investment, a
property investment and management company established in 1955,
according to the Companies Registry. The company’s real estate portfolio
includes the Portofino Villa and Portofino luxury apartments in Clear
Water Bay and a 12-storey commercial building in Mong Kok.
The family obtained a
one-year HK$85 million loan on January 17 from X8 Finance, a wholly
owned unit of Hong Kong-listed Termbray Industries International, a
stock exchange filing showed.
The loan, carrying an
annual interest rate of 29 per cent in the first two months of its
drawdown, and 18 per cent thereafter, used another Ho family property as
collateral.
The loan was used to
refinance a HK$44 million facility drawn in June 2023 that carried an
interest rate of 25 per cent per annum in the first month, and 13 per
cent thereafter.
(South China Morning Post)
Wang On to offer 90 flats in Quarry Bay
Finnie in Quarry Bay
developed by Wang On Properties (1243) has released its sales brochure,
offering 90 flats, with the smallest unit having an area of 223 square
feet.
There will be 41
one-bedroom flats ranging from 245 to 270 sq ft, 41 two-bedroom units
ranging from 361 sq ft to 364 sq ft, and eight special units.
The project is scheduled to be completed by May 31, 2026 and the show unit in Tsim Sha Tsui will open to the public next week.
Also in the primary
market, phase one of Cullinan Sky, developed by Sun Hung Kai Properties
(0016) in Kai Tak, Kowloon East, will launch its first batch of flats in
the third quarter.
As the biggest project in the district, the first phase will offer 906 flats ranging from studios to four-bedroom homes.
The developer expects home prices and demand would rise in the fourth quarter as the rate cut cycle kicks in.
In other news, Wheelock
Properties acquired the Ha Lung Industrial Building in Wong Chuk Hang at
a reserve price of HK$728 million through a mandatory sale yesterday.
The building will be redeveloped into a new-style industrial building
with a gross floor area of about 120,000 sq ft.
The developer also plans to launch tower 2B in its Park Seasons project in Tseung Kwan O this month, which will offer 350 units, most of which are one and two-bedroom homes.
(The Standard)
中環中心單位每呎60元租出 交吉逾2年醫療投資公司進駐
核心區甲廈租賃市場有所改變，中環中心一個單位，自從舊租客遷出後，至今交吉逾2年，剛以每呎60元租出，新租客為醫療投資公司。
市場消息透露，上址為中環中心35樓，該全層由金利豐金融行政總裁朱李月華持有，其中3509室，建築面積約1763方呎，舊租客為保德信投資管理 (PGIM)，於2022年3月約滿遷出後，單位一直交吉至今。
月租10.5萬
消息人士透露，該單位最新剛以每呎60元租出，月租約10.5萬，新租客醫療投資公司，簽署3年租約，並有續租權。該單位並非位處高層，景觀主要望開揚樓景。
坐擁企理裝修
不過，由於坐擁企理裝修，新租客可省卻一筆裝修費用，最終選擇承租。
近月，中環中心連錄承租，呎租企穩60元水平，其中，由世茂房地產相關人士持有的中環中心56樓1室，建築面積2161方呎，以每月13萬租出，租約為期3年。
該名租客為北京銀行股份有限公司，是一間總部位於北京的商業銀行，在2017年《銀行家》雜誌發布的全球銀行品牌500強排行榜中，排名第62位。
與上述56樓同類型單位，於今年3月錄承租，平均呎租63元，租客為中資企業，中環中心5103至05室，由「小巴大王」馬亞木家族持有，建築面積約4430方呎，丟空約一年。
業主以每呎75元放租，由來自北京的中資企業承租，平均呎租約63元，較意向呎租減12元或幅度16%，月租接近28萬。該單位舊租客亦是中資客，早於4年前以每月34.5萬承租，平均呎租78元。
受中資租客追捧
近期，中環中心亦有全層單位放售，世茂集團主席許榮茂私人持有的31樓全層，建築面積約24858方呎，意向價約5.72億，平均呎價約2.3萬，較一年前減價約23%。該單位已設有基本裝修，以現狀及交吉形式出售，項目同時招租，意向月租約為112萬元，呎租約45元。
(星島日報)
更多中環中心寫字樓出租樓盤資訊請參閱：中環中心寫字樓出租
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
更多中環中心寫字樓出售樓盤資訊請參閱：中環中心寫字樓出售
更多中環區甲級寫字樓出售樓盤資訊請參閱：中環區甲級寫字樓出售
泛海大廈兩層舖 月租百萬跌3成
中環連錄租務 意時裝店120萬租皇九6千呎舖
中環連錄大樓面商舖租務，皇后大道中泛海大廈兩層曾由TOPSHOP時裝租出舖位，疫情至今均作短租，現獲零售商以每月約100萬承租，較高峰期少67%。另同區皇后大道中9號地下6,000呎舖位，獲時裝Armani以每租約120萬租用。
市場消息稱，中環泛海大廈地下及1樓舖位租出，物業面積合共約1.9萬平方呎，消息指舖位獲一家零售商承租，月租近100萬元，呎租約50餘元。
TOPSHOP時裝 曾以300萬租用
該舖位於皇后大道中的中心地段，人流頗旺。該舖早年由中藝租用，2012年各大國際品牌因香港零售生意起飛，以高租金搶舖，TOPSHOP時裝以300萬元搶奪舖位，其後2017年續租，因應市況租金降至約150萬元。2020年環球疫情爆發，零售氣氛急轉差，TOPSHOP決定撤出香港。近4年該舖多次僅以短租形式租出，包括藝廊等，對上一次短租為本年4月，瑞士護膚品牌La
Prairie短租約一個月，月租估計約50萬元。若按最新金租計，較對上長租金仍低3成，僅高峰期更跌近7成。
值得一提，該舖對面為近年落成商廈H Queen's，物業地下舖位，面積約3,684平方呎，早前獲瑞士跑鞋ON昂跑，以每月約60萬元租用，近日品牌正式開業。
Armani租皇后大道中9號舖 呎租約200
中環皇后大道中商舖租務加快，消息指，中環皇后大道中9號地下，面積合共約6,000平方呎，獲意大利時裝零售商Armani租用，月租料約120萬元，呎租約200元。該舖原由藝廊租用，新租金較舊租上升。
Armani原租用中環遮打大廈地下及1樓複式旗艦店，2022年該舖獲國際拍賣行蘇富比預租，如今品牌轉租同區皇后大道中9號地下，作新舖址。
中環皇后大道中一向為各大國際品牌聚集之地，惟疫情期間零旅客，多個品牌放棄旗艦店，令地段空置率上升。隨着近一年多旅客重返，品牌重新租舖，如今皇后大道中大樓面舖位，已全數租出。
(經濟日報)
更多泛海大廈寫字樓出租樓盤資訊請參閱：泛海大廈寫字樓出租
更多皇后大道中9號寫字樓出租樓盤資訊請參閱：皇后大道中9號寫字樓出租
更多H Queen’s寫字樓出租樓盤資訊請參閱：H Queen’s寫字樓出租
更多遮打大廈寫字樓出租樓盤資訊請參閱：遮打大廈寫字樓出租
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
上環永樂街商廈呎租逾34元
上環商廈自有捧場客，區內永樂街58號商廈招租，建築面積逾630方呎，意向呎租34元。
有代理表示，上環永樂街58號全幢甲廈，每層建築面積約630至1154方呎不等，意向呎租連管理費約34至36元，月租連管理費介乎約2.2萬至4.1萬。
租金包管理費
該代理表示，物業採甲廈交樓標準，每戶提供獨立冷氣機、數碼電視天線等，大廈採用一梯一伙設計，每個單位設有洗手間及獨立電梯大堂，部分樓層為平台特色戶。
該代理續稱，中上環一帶企業雲集，該物業距港鐵上環站僅1分鐘步程，另外，大廈距港澳碼頭僅數分鐘步程，便利經常來往港澳地區人士。
(星島日報)
7月工商舖交投跌 減息料可改善
7月份工商舖交投持續維持低數字，而市場人士預計，短期內有望減息，工商舖交投氣氛可望改善。
有本港代理行綜合土地註冊處資料顯示，7月份工商舖註冊量共錄286宗 (主要反映6月份市況)，按月微跌約5.6%，而註冊金額則錄約39億元，按月增加約18.3%。
商廈55宗買賣 按月升1.9%
當中工商舖三板塊的註冊宗數個別發展。工廈及商舖板塊的註冊宗數7月分別錄154宗及77宗，按月分別下跌約4.3%及12.5%。商廈板塊最新則錄55宗註冊，按月微升1.9%，是唯一錄得上升的板塊。
若按金額劃分，錄得最多註冊成交的銀碼類別是價值500萬元或以下的物業，最新有156宗，按月減少約3.1%，其次為500萬以上至1,000萬元的物業，最新錄51宗登記，按月減少約15%。介乎2,000萬以上至5,000萬元的物業註冊維持平穩，最新有25宗，按月持平。不過，價值1,000萬以上至2,000萬元的物業則按月增加約2.2%，最新錄47宗。
華潤隆地5.4億 購藍塘傲商場
7月份錄得3宗逾億元註冊成交，包括有華潤隆地以約5.4億元向麗新集團及帝國集團，購入將軍澳唐賢街29號藍塘傲基座商場。另外，聯合出版集團以約2.2億元購入灣仔告士打道151號資本中心22樓全層連多個車位，但與原業主11年前的買入價相比，是次成交帳面錄得約2,180萬元虧損。
後市方面，該行代理表示，歐美等先進經濟體的通脹率逐步回落，所以加拿大、歐元區及英國的央行都決定減息。隨着美國通脹受控，聯儲局未來議息時除關注通脹水平外，亦會更加關注經濟狀況，加上局方留意到經濟已有放慢的迹象，相信美聯儲將在短期內展開減息。
自撤辣後，本港的按揭市場維持緊張，一旦本港的息率跟隨美息回落，加上本港的貨幣供應充裕，相信近期按揭市場上流動性不足的狀況有望扭轉，而工商舖的投資氣氛亦將得到改善。
(經濟日報)
更多資本中心寫字樓出售樓盤資訊請參閱：資本中心寫字樓出售
更多灣仔區甲級寫字樓出售樓盤資訊請參閱：灣仔區甲級寫字樓出售
會德豐底價7.28億奪黃竹坑工廈 重建成新式商廈可建總樓面約11.7萬呎
財團在舊樓併購及市區重建中向來扮演重要角色，由會德豐地產併購的黃竹坑合隆工業大廈，昨日舉行公開強制拍賣程序，該公司以底價7.28億投得，成功統一業權發展。發展商指，將會重建成新式商廈，涉及可建總樓面約11.75萬方呎。
黃竹坑合隆工業大廈今年6月底獲土地審裁處批出強拍令，底價為7.28億。項目於昨日舉行公開拍賣，由手持「1號牌」的會德豐地產副主席兼常務董事黃光耀、在未有競爭對手下，成功統一業權發展，以可建總樓面計，每方呎樓面地價約6198元。
每方呎樓面約6198元
上述項目位於黃竹坑道52號，現址為一幢樓高13層的工廈，早於1971年落成入伙，至今樓齡約53年，該項目地盤面積7830方呎，若以地積比率約15倍重建發展，涉及可建總樓面約11.75萬方呎。
黃竹坑合隆工業大廈鄰近南灣如心酒店、毗鄰港鐵黃竹坑站，步行前往約2分鐘步程，同時，鄰近亦有多條巴士線行走，交通便利，極具重建價值。
黃光耀於拍賣會後表示，上述項目是集團今年首個購入的項目，未來將重建成新式工廠大廈，目前發展細節仍在研究當中。
黃光耀：不同方式增土儲
由於區內商業配套漸成熟，而且集團總部已經遷至黃竹坑，未來希望在該區物色合適項目，集團亦會以不同方式增加土地儲備。
降低強拍門檻條例草案早前已獲立法會通過，黃光耀認為，降低強拍門檻可增加財團併購彈性，由於目前市況未明，加上現時息口高企，發展商會相對審慎，令年內申請強拍個案大減，若未來有合適項目，集團會繼續參與強拍。
樓市方面，黃光耀說，市場要保持推盤動力，加上預期美國將減息，相信發展商會早着先機，不需要待美國落實減息後才加快推盤步伐，認為減息後會吸引用家及投資者入市。
今年購入首幅地皮
推盤方面，黃光耀透露，部署月內推售將軍澳日出康城12期第2B座，下半年推出港島種植道豪宅項目。至於龍翔道豪宅項目推遲落成時間，形容該項目屬「慢工出細貨」，料最快明年下半年落成。
該項目是會德豐地產今年首個購入的項目，未來將重建成新式工廈，未來仍會在該區物色合適項目，集團亦會以不同方式增加土地儲備。
(星島日報)
山頂道3幢洋房8.28億易手
超級豪宅更頻錄大額成交。由本地老牌何氏家族持有的山頂道99、101及103號3幢洋房，昨日落實以8.28億售出，呎價約57676元。
山頂道99、101及103號佔地面積26512方呎，建有3幢洋房，於2003年2月落成，面積分別為5067方呎、4627及4662方呎，涉及樓面面積合共約14356方呎。
項目位處山頂矜貴地段，享有維港景，早前推出市場放售，旋即獲多名準買家洽購。成交紀錄冊資料顯示，項目昨日落實以8.28億售出，按總樓面面積逾1.4萬方呎計算，呎價約57676元。
買家於簽署臨約時，繳付成交額5%作為臨時訂金，本月22日或之前再繳付成交額5%作為加付訂金，成交額餘額於下月30日或之前付清。
(星島日報)
太地破天荒15億回購 股價飆12% 商廈收租縮水 上半年少賺19%息反增
太古地產 (01972)
昨日公布上半年業績，截至今年6月底止，股東應佔溢利為17.9億元，按年減少19.2%，經常性基本溢利35.7億元，按年下跌8%，派第一次中期股息0.34元，按年增加3%，同時會斥資15億元回購股份，計劃於2025年5月結束，以提升股東的回報，為上市以來首次回購。
受增加派息及回購股份消息刺激，太地股價昨曾飆13.7%，收市仍大漲11.7%，報14.5元，創歷來最大升幅。
撇除投資物業公平值變化後，太地股東應佔基本溢利38.5億元，按年減少1%，主要反映財務支出淨額上升及香港寫字樓租金收入減少，部分跌幅被出售香港停車位的溢利上升所抵消；收益72.7億元，按年增0.2%。
港人外遊影響微 商場加大促銷
太地行政總裁彭國邦表示，香港消費信心減弱，消費模式改變，隨着與大灣區進一步融合，有更多香港人喜歡探索深圳；港人也喜歡到日本旅遊，主因滙率吸引，很多出境旅遊和消費從香港轉移到日本。
總括來說，這些情況不會對集團旗下商場產生影響，未來會加大促銷活動及投資零售管理系統，確保商場維持活力，亦會努力尋找新租戶。他指出，集團旗下3間商場出租率達100%。
彭國邦稱，自政府放寬樓市「辣招」以來，住宅市場交投有改善，需求逐漸復甦，但價格未見明顯上升，隨着今年底美國減息，相信樓市情緒會逐漸改善，從中期來看，對香港住宅的需求充滿信心。
集團的寫字樓出租率仍然很高，但根據本港寫字樓的空置率及新供應來看，市場需要一些時間才能復甦。
至於內地，彭國邦提到，上半年集團旗下內地商場零售額放緩，因去年上半年表現強勁以致基數高，實際上，零售額與疫情前2019年相比高69%，當地零售商場及零售業銷售穩定，暫時沒有計劃改變租戶組合。
太古溢利減7% 飲料部業績穩
另外，太地母公司太古 (00019、00087)
上半年股東應佔溢利為39.1億元，按年減少7.3%，收益395.6億元，按年減少23.2%，A股及B股每股基本盈利分別為3.9元及0.78元，第一次中期股息A股及B股分別1.25元及0.25元，按年增加4%。
期內地產部門應佔經常性基本溢利28.9億元，按年減少9%，飲料部門經常性溢利8.7億元，按年跌46%，主要是去年下半年出售美國太古可口可樂，部分影響被新收購的泰國及老撾專營公司帶來的應佔溢利所抵消。撇除出售事項及新收購業務影響，溢利減少2%。
太古主席白德利解釋，上半年地產部門在辦公樓市場環境疲弱下仍表現良好，飲料部門錄得穩定業績，而航空部門依然受惠於殷切的旅遊及貨運服務需求。
太古地產按照其1000億元的投資計劃，迄今已經承諾投放65%，而中國內地的6個新項目，則分布於西安、三亞、北京、上海及廣州，發展進度理想。
他又補充，本港以及中國內地仍為太古提供最好的經濟機會，故集團將會繼續在香港和內地投資。
(信報)
