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Hong Kong’s former ‘King of Employees’ Canning Fok receives HK$980 million bid for two of his mansions in Stanley

Two houses on 64 and 66 Chung Hom Kok Road near Stanley in the island’s Southern district have received a tentative combined offer of HK$980 million (US$126.4 million), according to people familiar with the sale

The two houses are registered to two closely held companies Key Success Investments and Dingford Development, in which Fok and his wife Eliza Fok Ho Yi-wah are directors, according to the Land Registry

Canning Fok Kin-ning, the right-hand man of tycoon Li Ka-shing, has put two mansions located at the southern tip of Hong Kong Island on the market, taking advantage of resilient prices for high-end real estate to lock in the returns on his investments.

Two houses on 64 and 66 Chung Hom Kok Road near Stanley in the island’s Southern district, considered rare assets by sales agents, have received a tentative combined offer of HK$980 million (US$126.4 million), according to people familiar with the sale.

The two houses are registered to two closely held companies Key Success Investments and Dingford Development, in which Fok and his wife Eliza Fok Ho Yi-wah are directors, according to the Land Registry. The couple bought the two mansions in July 1996, records show.

“Hong Kong’’s market for luxury residential property has largely been supported by mainland Chinese capital,” agent said. “Buyers of big-ticket transactions are fewer than before, as mainland Chinese buyers had been unable to visit Hong Kong until the border reopens” when the coronavirus pandemic is brought under control, the agent said.

The two homes are among several properties owned by the corporate chieftain dubbed Hong Kong’s “King of Employees” for many decades for his apex position among the city’s salaried class. Trimming the assets to take advantage of a significant surge in real estate prices in the world’s most expensive urban centre is only natural, agent said.

“Asset reallocation to balance the risk is a common strategy adopted by veteran investors,” the agent said, rejecting the notion that the sale reflected pessimism towards Hong Kong’s future. “He is not selling his own home at Deep Water Bay.”

The average residential property price for luxury property, defined as those bigger than 160 square metres (1,722 square feet) have soared by 173 per cent since Fok bought his Stanley mansions in 1996, according to data provided by the Rating and Valuation Department.

The tentative bid on the two houses, which measure a combined 10,219 square feet, work out to HK$95,900 per square foot.

The house at 64 Chung Hom Kok Road measures 6,265 sq ft according to Land Registry data, while the next building is 3,954 sq ft in size. House 66 was rented between 2011 and 2013 to Charles Li Xiaojia, the former chief executive of Hong Kong Exchanges and Clearings Limited (HKEX), the operator of the city’s stock exchange, for a monthly rent of HK$288,000. House 64 was once leased for as much as HK$620,000 a month, records show.

Justin Chiu, executive director of Li’s property flagship CK Asset Holdings, sold a luxury apartment measuring 1,948 sq ft at The Albany on the Mid-Levels for HK$103.5 million in December. The executive bought the unit in 2017 for HK$94.3 million.

Owners have been encouraged to lock in the appreciations of their investments, after Wharf (Holdings) paid a record HK$12 billion for a parcel of land on Mansfield Road on The Peak via government tender in December.

“The sale of [the Mansfield Road] parcel on The Peak for a record price will encourage more owners to take profit,” one of the city’s major network of real property agents said.

As the highest-ranking manager in Li’s business empire, Fok was Hong Kong’s highest-paid corporate chieftain and one of the city’s biggest taxpayers, surpassed only in 2016 when Tencent Holdings the Chinese games publisher paid its top executive HK$274 million.

Fok was appointed in 1984 as executive director of Hutchison Whampoa, one of the tycoon’s two flagship companies, now renamed CK Hutchison.

As co-managing of the company with Li’s elder son Victor Li Tzar-kuoi in 2018, Fok’s total pay was HK$226.3 million, comprising HK$11.5 million in salary, HK$213.5 million in bonus and HK$1.04 million in pension, according to exchange filings on Bloomberg.

He also received HK$755,000 in director’s fees that year for sitting on the boards of six companies within the CK portfolio. Fok could not be reached to comment.

(South China Morning Post)

 

棄租中環總部8層 恒隆:渣打仍是最大租戶

銀行減樓面省成本,消息指渣打銀行將棄租港九多層寫字樓,其中渣打銀行大廈業主恒隆地產 (00101) 表示,會按一貫做法與租戶商討續租事宜,渣打仍是該廈的最大租戶。

本報日前率先披露,渣打銀行將分階段放棄租用中環總部8層樓面,連同旗下觀塘3層樓面亦將招租,合共放棄約12萬平方呎樓面,估計每月共可減省約750萬元開支。本報就有關消息向渣打銀行查詢,集團應指對傳聞不作評論。

至於恒隆表示,集團定期檢視辦公室租賃組合,以優化空間運用並為持份者提升價值。公司會按一貫做法與租戶商討續租事宜,故不便透露與個別租戶的租賃安排。香港渣打銀行仍然是渣打銀行大廈的最大租戶。

位於中環德輔道中的渣打銀行大廈,由恒隆地產持有,而大部分樓層由渣打銀行租用,據悉涉及25層樓面,每層面積約7,500平方呎計,涉及逾18萬平方呎,成集團總部。

(經濟日報)

更多渣打銀行大廈寫字樓出租樓盤資訊請參閱:渣打銀行大廈寫字樓出租

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

 

瑞銀棄租上環李寶椿大廈一層

近期連錄大型企業棄租核心區甲廈,繼法巴棄租中環國金中心一全層樓面,瑞銀集團亦棄租上環李寶椿大廈全層樓面,並有意繼續於約滿後,分階段棄租於該廈所承租的部分樓面。

疫下企業縮小承租寫字樓規模,瑞銀集團位處上環德輔道中189至195號李寶椿大廈的辦事處,涉及11樓、13樓、15樓、16樓、17樓及25樓,合共逾4.5萬方呎,市場消息透露,其中11樓全層於本月中租約屆滿,瑞銀已棄租該全層。本報就有關消息向瑞銀查詢,惟發言人表示,對於市場消息,該集團不會特別作出回應。

發言人:不特別作回應

不過,市場消息透露,瑞銀已遷出該全層,業主李寶椿家族亦將物業租出,面積約9551方呎,最新平均呎租約67元,並給予2個月免租期,實際呎租約64元,較舊租金每方呎約80元,新租金回落約20%,月租約64萬。他續說,瑞銀早於10多年前已進駐該廈,屬於長情租客,不過,隨着市況改變,現時當租約到期,有打算再分階段棄租部分樓面。

每呎64元減20%租出

近期市場連錄大型企業棄租個案,法國巴黎銀行 (法巴) 亦落實棄租國際金融中心2期59樓,業主目前正將該全層樓面,以每方呎160元放租,較該廈高峯期呎租高逾200元下跌約20%,以該層面積23295方呎計,意向月租約372萬。

法巴向來租用國際金融中心2期59樓至63樓作集團駐港總部,總面積達11.64萬方呎,總部由5層縮減至4層。

國金全層意向呎租160

代理指,疫情肆虐下,部分企業逐漸適應居家工作,拖累甲廈需求銳減,同時,本港經濟表現疲弱,企業對後市均採取保守審慎態度,為減省營運成本,紛「大屋搬細屋」及撤出核心區,料大型機構棄租個案將陸續浮現,核心區甲廈租金亦持續調整。

另一代理稱,受本港經濟表現急速放緩,企業紛減省營運成本以求存,部分傾向寫字樓租金「開刀」,加上近期大型銀行棄租中環總行樓面,對市場帶來重大影響,料企業將持續遷出核心區成為趨勢。

甲廈空置率9%創新高

代理指,反修例事件及新冠肺炎疫情影響,受多項負面因素衝擊,甲廈市場觀望氣氛籠罩,現時整體甲廈空置率達9%,為歷來新高水平,預期未來寫字樓主要租客亦有更替,新興科技公司、中資企業成為主力的租客。

(星島日報)

更多李寶椿大廈寫字樓出租樓盤資訊請參閱:李寶椿大廈寫字樓出租

更多上環區甲級寫字樓出租樓盤資訊請參閱:上環區甲級寫字樓出租

更多國際金融中心寫字樓出租樓盤資訊請參閱:國際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

 

會德豐新地研入標山頂地

政府推地步伐未見放緩,山頂文輝道9至11號地皮將於今日截標,其中,會德豐、新地均研究入標該幅地王,市場估值每呎樓面地價約4.3萬至4.8萬,估值63億至70億,料掀中港財團出手爭奪。

會德豐地產主席梁志堅指出,該集團現今仍考慮是否競投該地皮,取決因素離不開價錢,當被未問及會否與毗鄰地皮合作發展時,他則回應現階段未有定案。

新地副董事總經理雷霆稱,集團將研究入標山頂文輝道9至11號地皮。

估值63億至70

該幅地皮位於山頂文輝道9及11號,地皮面積54541方呎,可建樓面14萬4970方呎,可建135伙。有測量師稱,估計將有5至7個發展商入標,部分中資亦會有興趣,預期每呎樓面地價約4.5萬至4.7萬。

另一測量師稱,該項目附近有多個山坡,發展商須進行岩土勘察、斜坡保養及預防山泥傾瀉等工程,預期樓面呎價約48585元,估值約70億。

測量師稱,預期項目每呎樓面地價43500至44800元,市值約63億至65億。

(星島日報)