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$37m contractors row hits Ma's Peak pad


Wing Keung Construction has filed a writ against Paul Y Engineering, the main contractor of Jack Ma Yun's 22 Barker Road property, alleging failure to pay HK$37.88 million.

Ma bought the luxury house on The Peak for HK$1.5 billion from the former deputy chairman of PCCW (0008), Francis Yuen Tin-fan, and his wife in 2015.

The property was a three-story house with a site area of 12,579 square feet and a gross floor area of 9,890 square feet.

Ma hired Paul Y Engineering as main contractor for the house's renewal project in April 2018. Paul Y Engineering outsourced the subcontract to Wing Keung Construction. The total construction amount involved HK$109 million.

The renewal project, which planned to build a four-story residential building with a gross floor area of 12,680 square feet, started in August 2019. In June 2020, Wing Keung submitted an interim payment application to recover Paul Y's HK$15.16 million project arrears.

However, Paul Y later provided the subcontract between the two parties and pointed out that the arrears was only HK$3.7 million and it had already paid the amount to Wing Keung.

Wing Keung said that as the project was postponed for the third time, Wing Keung suffered losses and requested payment of HK$37.88 million.

The project is coming to an end. In February, construction workers protested in front of the house and said the main contractor was behind in payment to the sub-contractor. Paul Y. Engineering denied payment was due.

Recently, the subcontractor officially filed a writ to chase the arrears.

The house had been the Belgian consular residence. In 2002, Yuen and his wife, as well as the former Hang Seng Bank vice-chairman and chief executive, Rose Lee Wai-mun, bought it for HK$160 million, in the name of the off-shore company Alatini Group Limited. The house was then sold in a "shell" to Ma.

(The Standard)

 

Agents worry over search amendment

The Estate Agents Authority said it may issue guidelines for company searches as real estate agents expressed concerns that new laws will prevent them checking the backgrounds of property owners and potentially preventing scams.

This came after the government announced plans to restrict public access to company directors' private information listed in the Companies Registry.

Property agency said the restriction makes it difficult for agents to meet the EAA's regulation requirements.

Meanwhile, Sun Hung Kai Properties (0016) will launch St Michel Phase 1 in Shatin offering 215 car parking spaces - more than the 196 homes in the phase - and may open sales by tender after Easter.

Starfront Royale, meanwhile, will open sales of 90 units - in addition to 2 units by tender - tomorrow. The developers of Royale series in Tuen Mun made HK$7 billion from the sales of 1,471 units.

And Henderson Land (0012) sold seven units at The Hampstead Reach in Yuen Long for HK$177 million.

In other news, another agency expects Hong Kong home prices will rise more than 10 percent if cross-border travel resumes this year.

(The Standard)

 

九龍灣商廈富臨中心 推「先用後付」

受惠於九龍東發展,加上近日樓市交投氣氛好轉,億京發展、信置 (00083) 及資本策略 (00497) 旗下的九龍灣商廈富臨中心委託代理銷售項目約4成餘貨單位,折實入場呎價約11,835元,並首次引入「先用後付」付款計劃。

折實入場呎價11835

項目提供3種付款辦法,並首度推出「先用後付」付款辦法,即買家先付10%樓價即可自用單位,成交期分別12個月及24個月,分別享9%及8%折扣優惠,屬工商舖的先例。此外,項目提供75天成交期計劃,即照定價九折成交。另外,所有買家入市時可獲贈一半釐印費。

若採取75天成交期計劃,即扣除10%折扣後,折實入場呎價約11,835元,當中寫字樓入場單位為B座3樓B1室,面積約772平方呎,折實價約997萬元,呎價約12,915元;商舖的入場單位是1樓K舖,面積約363平方呎,折實售價約548.8萬元,呎價約15,118元。

項目樓高27層,分兩座發展,2至30樓為寫字樓部分,寫字樓面積約772至全層約22,369平方呎,當中全層單位尚餘6層。而項目地下至2樓設有商舖,面積272至11,725平方呎。

億京發展及策劃有限公司項目及銷售策劃總監潘志才指,政府有意改劃九龍東5幅商業地,故希望可以「食住個勢」銷售項目,強調集團遇上適當時機便會「去貨」,並會因應市況調整價格。資本策略投資部副常務董事何樂輝指,由於市場向下微調,所以項目定價跟隨市場走勢,而寫字樓部分的折實售價約1.3萬至1.6萬元,又相信中港通關後,會對工商舖市場有正面影響。

(經濟日報)

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油塘7項目 建逾4600伙私樓

油塘工業區近年轉型速度明顯加快,區內不少工廈獲收購或重建成住宅發展,7個項目預計提供超過4,600伙,重建步伐亦由臨海地段向內陸擴散。

油塘工業區大致分為兩個部分,一個是沿着油塘灣沿岸、呈「U」字型的油塘灣項目,早在多年前已經獲恒地 (00012) 等發展商牽頭展開全面重建,而鄰近三家村、鯉魚門的東源街、高輝道交界一帶的工業區,業權相對分散,故此未有大規模的整合重建,而是逐步每個項目展開發展。目前該區內有7個重建或者發展項目,將在未來幾年提供約4,625個私人住宅單位,並帶動該工業區轉型。

臨海東源街兩旁 集4住宅發展

該工業區佔地面積近30公頃,按照現時分區規劃大綱圖 (OZP),大致分為三個部分,其中臨海東源街兩旁屬於「綜合發展區」,大多數屬於單一業權的廠房。現時該區域之內,至少有4個住宅發展項目,在重建之後,預計該區將會有一半地方變成住宅區,餘下的項目亦預計將會逐步淘汰。

該4個項目除了五礦地產發展的蔚藍東岸外,還包括長實 (01113) 的東源街5號及8號項目,發展商已經在兩年前補地價約22.1億元,將工業地轉為興建4幢住宅大廈,提供約903伙,當中405伙為面積少於431平方呎的小型單位。

越秀將建1393 規模最大

至於越秀地產 (00123) 就持有的油塘東源街冷藏貨庫和比鄰政府土地,則將興建4幢29層高及1幢23層高的住宅大廈,涉及住宅總樓面面積約65.8萬平方呎,提供1,393伙,屬於暫時區內規模最大的項目。

另外就是由崇耀街以北、四山街一帶的工廈,現時規劃為「住宅 (戊類)」用途,業權相對分散,早年已經有嘉賢居、鯉灣天下及Ocean One,由工廈轉型成住宅發展。

近年亦陸續有財團收購區內工廈重建,繼宏安夥拍內房旭輝,重建四山街工廈變成新盤曦臺之後,早前已故「船王」包玉剛家族旗下的康世集團,亦申請重建四山街8號世運貨倉改建住宅,提供445伙。

(經濟日報)

 

十大商場名店 差餉租值逾半跌逾兩成 1881 Heritage個別地舖 兩年累跌54%

過去兩年香港備受反修例風波及新冠疫情影響,零售業處於低潮,舖位租金亦大跌;本報翻查差餉物業估價署資料,本港十大一線地標式商場的10間名店,2021/22年度應課差餉租值全面報跌,逾半數按年跌幅達兩成以上,其中長實 (1113) 持有的尖沙嘴1881 Heritage美國珠寶品牌Tiffany & Co.的舊舖位,最新租值更較2019/20年度、即舖位丟空前大跌54%之多。

本報選取十個一線商場的部分名店作例子,發現新一年度的應課差餉租值全面報跌,跌幅最大為1881 Heritage地下8號舖,最新應課差餉租值為4812萬元,較2020/21年度的7644萬元,大幅下跌37%,為各大型商場跌幅最大例子。此外,該舖位於2019/20年的應課差餉租值逾1.05億元,換言之,舖位兩個財政年度以來,應課差餉租值跌幅達54.33%。

值得一提的是,由於差估餉每年3月更新的新一年度差餉租值,是以之前一年10月1日的市况評估,故2019/20年度數字,實際反映2018年10月、即反修例運動前的市况。

Tiffany去年3月棄續租權 舖位丟空至今

資料顯示,上述Tiffany & Co.旗艦店,面積約3900方呎,於商場2009年開幕時已進駐,惟該舖於去年3月未有行使續租權而結業,舖位一直丟空。

另希慎 (0014) 持有的銅鑼灣希慎廣場地下至2樓一籃子舖位、即蘋果現在租用的專門店巨舖,新一年度差餉租值亦跌穿1億元;該舖新一年度租值為8256萬元,較2020/21年度的1.01億元跌18%,若對比2019/20年的1.23億元,亦累跌超過33%。

希慎蘋果店租值跌穿1

至於本港最傳統的兩個「名牌集中地」,中環置地廣場、尖沙嘴海港城租值同樣大跌,其中法國頂級品牌LOUIS VUITTON租用的置地廣場地庫至1樓巨舖,最新租值5100萬元,按年度跌25%,對比2019/20年度的7560萬元亦累計跌約32%。

另一意大利奢侈品牌PRADA租用的尖沙嘴海港城複式舖,雖然2020/21年度租值較2019/20年度無升跌,但新一年度租值按年下跌約兩成,由2.06億元跌至約1.65億元。

分析:憧憬下半年遊客重

代理表示,商場舖位可「全天候」營業,亦會不時推出優惠吸客,故不少商戶都較愛進駐商場,他更指「一線商場好難入、入咗唔會容易走」,所以業主根本毋須減租,租金相對街舖穩定,惟過去一年幾乎處於沒遊客的狀况,租金有調整亦屬正常,但估計隨着下半年遊客有機會重臨,未來租金走勢會好轉。

(明報)

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