HK (+852) 3990 0799

Construction of New World Development's 888 Lai Chi Kok Road project completed


New World Development (0017) announced on Wednesday that the construction of its Grade A commercial building at 888 Lai Chi Kok Road in Cheung Sha Wan has officially finished with about 75 percent of gross floor area sold already. 

The developer successfully obtained the Certificate of Compliance issued by the Lands Department today, meaning the building is set to become the first new Grade A commercial complex in the district. 

According to New World, the sold 75 percent of gross floor area is split halves among financial and insurance companies and education institutes, bringing in more than HK$5.4 billion for the developer. 

They include Nanyang Commercial Bank, listed technology company PC Partner Ltd (1263), and the School of Professional and Continuing Education, The University of Hong Kong. 

The 28-story building is designed by P&T Architects with about 580,000 square foot of office area as well as 241 private and 70 public parking spaces. 

This project is among the three land plots in West Kowloon tendered by New World back in 2017. The other two are the projects on King Lam Street and on Wing Hong Street. 

The constructions of the King Lam Street project and the Wing Hong Street project are expected to be finished by next year and 2024 respectively, paving way for West Kowloon's new core business district. 

All three commercial buildings -- an investment project worth over HK$20 billion -- can provide up to 2 million square foot of gross floor area, New World added. 

(The Standard)

For more information of Office for Lease at 888 Lai Chi Kok Road please visit: Office for Lease at 888 Lai Chi Kok Road

For more information of Grade A Office for Lease in Cheung Sha Wan please visit: Grade A Office for Lease in Cheung Sha Wan

For more information of Office for Sale at 888 Lai Chi Kok Road please visit: Office for Sale at 888 Lai Chi Kok Road

For more information of Grade A Office for Sale in Cheung Sha Wan please visit: Grade A Office for Sale in Cheung Sha Wan

 

Two hotels change hands as Covid roils Peninsula

Two hotels in Hong Kong changed hands as The Peninsula Hong Kong posted its lowest occupancy rate since the Sars outbreak in 2003 of 9 percent in the first quarter.

Magnificent Hotel Investments (0201) said it plans to acquire The Bay Bridge Lifestyle Retreat Hotel for HK$1.42 billion from Lafayette Hotel, owned by the late "shop king" Tang Shing-bor's family.

The 16-story hotel is located at Castle Peak Road in Tsuen Wan and has 435 guest rooms, a restaurant, swimming pool and gym.

Tang's family, which purchased the hotel for HK$1.68 billion in 2017, would suffer a loss of around HK$260 million, or 15 percent of its value, after holding it for 5 years.

Rental accommodation provider Weave Living meanwhile, entered into an agreement with Magnificent Hotel to buy its Grand City Hotel in Sai Ying Pun for HK$900 million.

This came as The Hongkong and Shanghai Hotels (0045) said the occupancy rate at the Peninsula Hong Kong was 9 percent in the first quarter amid the worst Covid outbreak in the city.

Revenue per available room in the city in the first three months also plunged by 52 percent year-on-year, or 71 percent quarter-on-quarter to HK$380.

Average room rate, however, soared by 56 percent from a year ago to HK$4,127.

(The Standard)

 

CK Asset Sells Mid-Levels Luxury Homes for $50M as High-End Market Hangs On

Two units on a high-level floor at CK Asset’s Mid-Levels luxury project sold last week for a combined HK$393.9 million ($50.1 million), showing the resilience of Hong Kong’s high-end housing market amid the COVID-led economic slowdown.

Hong Kong’s second-largest developer by market capitalisation on Friday sold Unit 6 on the 21st floor of 21 Borrett Road’s 26-storey tower for HK$190.1 million, reflecting a sale price of HK$87,648 per square foot, according to public records posted by the developer. Unit 7, an adjacent apartment on the same floor, sold that day for HK$203.8 million, equivalent to a per-square-foot price of HK$88,034.

The price tag for both homes was in line with previous sales on floors 16, 18 and 22 of the property from mid-2021 through January this year, a surveyor said, who noted that the latest transactions were for high-zone units in the residential tower.

The developer has sold 32 units at the first phase of the project since February of last year, according to research from a property agency. Excluding three transactions on the 23rd floor of the project — for which unit rates ran from HK$126,000 to HK$136,000 per square foot — the price for homes at 21 Borrett Road averaged HK$79,132 per square foot, the agency said.

Borrett Road Slowdown

The four-bedroom units that sold this month to undisclosed buyers are part of 21 Borrett Road’s first phase, comprising 115 units across three residential towers. With Unit 6 spanning 2,169 square feet (202 square metres) and the adjacent Unit 7 covering a saleable area of 2,316 square feet, the two apartments could be combined to create a super-sized luxury home, another surveyor said.

Last week’s deals followed a lull in sales at the Mid-Levels project in the first quarter, when only two transactions totalling HK$334.6 million were recorded during the entire period.

This was a drop from 2021, when CK Asset had recorded three transactions in the first quarter alone, despite sales having begun just in February that year. The first of the three was a 3,378 square foot unit in a different building at the project that sold for HK$459 million, translating to HK$136,000 per square foot and breaking the record for Asia’s priciest apartment at the time.

With social distancing restrictions having begun to relax on 21 April, in-person home viewings have also resumed to normal, according to a property agent.

“It is encouraging to see two units at 21 Borrett Road transacted at the right price only on the second weekend since viewing activity resumed,” the agent said.

Luxury Sales Slide

Sales in the luxury residential sector have been thin since the beginning of the year due to the fifth wave of COVID-19, the agent said.

Hong Kong’s latest outbreak led to dampened economic activity during the first three months of 2022, according to another agent, who said activity in the luxury residential sector “was no different”.

“According to the Land Registry, the number of sale and purchase agreements dropped from 1,213 cases in 2021 to 646 cases in 2022 during (January to April) for luxury residential properties with a consideration higher than HK$20 million,” the agent said.

Before Hong Kong was hit by its fifth COVID wave, luxury deals were still breaking records at the start of the year. In January, a unit on Victoria Peak at the Mount Nicholson project, developed by Wheelock Properties and Nan Fung Development, sold for HK$583.2 million to an unnamed buyer, making it the second most expensive home ever sold in Asia on a price per square foot basis.

With Hong Kong battling the fifth wave of the pandemic and amid growing geopolitical tensions, however, luxury home prices in the city slid as much as 2.7 percent in the first quarter, according to the agency.

Despite the current headwinds, with buyers from outside Hong Kong facing hurdles to luxury property purchases, two types of buyers continue to support demand in the high-end residential market: local high-net-worth individuals and wealthy mainland-born new Hongkongers who live in the city, another agent said.

“With the anticipated border opening between Hong Kong and China, it is possible that more mainland buyers would purchase luxury homes in Hong Kong, resulting in a slight rebound in the luxury housing market this year,” the agent said.

(Mingtiandi)

 

華大酒店等購汀蘭居 鄧成波家族14.2億沽貨

疫市下依然錄得多宗大手成交,本報早前率先披露,「鋪王」鄧成波家族沽售深井服務式住宅汀蘭居全幢,作價14.2億,持貨5年帳面蝕讓2.6億,買家身分終於曝光,為恒基四叔李兆基女婿、華大酒店主席兼執行董事鄭啟文旗下公司。

持貨5年帳面蝕2.6

華大酒店、順豪物業投資及順豪控股聯合公布,以約14.2億購入深井汀蘭居,物業樓高16層,總樓面約21.6萬方呎,呎價約6564元,該物業提供436間房間,每個房間售價約325萬。

公布指出,收購汀蘭居可擴充其現有酒店管理服務及酒店管理組合,以增加收入來源及提升盈利能力的良機。此外,該物業於去年底估值為24.6億,交易完成日期為今年10月10日。

每房間售價325

資料顯示,鄧成波家族於2017年以約16.8億購入上述物業,於兩年前推出市場放售,當時意向價高達23.8億,故最新成交價較意向價低約4成,持貨5年帳面蝕讓約2.6億,物業期間貶值約15%。

市場早前流傳鄧成波家族放售的一籃子物業清單,包括住宅、工廈、商鋪等物業,共涉30項,合共意向價高達70億,當中較矚目物業為九龍城蔚盈軒全幢,以約18億放售,較去年意向價低約1成,以總樓面66428呎計,呎價約2.7萬。

(星島日報)

 

西環華麗都會酒店9億易手 WeaveLiving夥美資基金向華大購入

全幢酒店於疫市下「異軍突起」,租務品牌Weave Living繼上月購入九龍珀麗酒店後,最新夥拍一家美資基金,購入華大旗下西環華麗都會酒店全幢,作價9億元,每間房間售價約420萬,該租務品牌於兩個月內連環購入兩全幢酒店項目,涉資約22.75億。

租務品牌Weave Living昨日宣布,夥拍美資基金安祖高頓 (Angelo Gordon),以9億購入西環皇后大道西338至346號華麗都會酒店全幢,以項目總樓面約60150方呎計,呎價約14960元。該酒店提供214間房間,每間房間售價約420萬。

涉214間房間

Weave Living創辦人兼集團行政總裁Sachin Doshi稱,購入該物業後將會全面翻新,打造成靈活的住宿空間,料於明年第三季開業,成為集團旗下港島區第3個項目。

連購2酒店涉逾22

有代理指,全幢酒店的升值潛力高,加上市場上全幢物業的供應短缺,因此受實力投資者追捧。

新業主將酒店改裝成共居空間,並會提供靈活的租賃條款、多元化設施等,因此預計以共居空間營運,可以為新業主帶來穩定和可觀的租金收入。

Weave Living於疫市下大舉擴充,上月以初以合營企業形式,購入德祥地產旗下大角嘴九龍珀麗酒店,作價13.75億,短短兩個月內,該租務品牌連環購入兩幢酒店項目,涉資約22.75億。

事實上,該租務品牌向來鍾情市區酒店,本報於上月底率先披露,華大旗下北角華美達盛景酒店亦獲準買家積極洽購,涉資約11億,料於短期易手,並以Weave Living呼聲最高,當時本報向該集團負責人查詢,惟回覆指集團不打算增購任何物業。

(星島日報)

 

新世界打造西九「甲廈商圈」

由新世界發展的長沙灣甲廈荔枝角道888號宣告竣工,項目於昨日取得滿意紙,樓高28層,寫字樓樓面約58萬方呎,累售樓面約75%,其中金融、保險及大專機構約佔一半,包括南洋商業銀行及香港大學專業進修學院等知名機構。

新世界早於2017年於區內投得3幅商業用地,包括荔枝角道888號、瓊林街及永康街項目,總投資額逾200億,打造區內大型「甲廈商圈」。

(星島日報)

更多荔枝角道888號寫字樓出租樓盤資訊請參閱:荔枝角道888號寫字樓出租

更多長沙灣區甲級寫字樓出租樓盤資訊請參閱:長沙灣區甲級寫字樓出租

更多荔枝角道888號寫字樓出售樓盤資訊請參閱:荔枝角道888號寫字樓出售

更多長沙灣區甲級寫字樓出售樓盤資訊請參閱:長沙灣區甲級寫字樓出售

 

聯興工廠大廈85%業權放售 意向價5.5億

活化工廈政策推動下,傳統工業區面臨變天,當中長沙灣吸引不少中外企業進駐,進一步轉型為西九龍新商貿區。新近有業主看好長沙灣發展前景,遂將長沙灣聯興工廠大廈一籃子物業推出市場放售,該批物業佔高達近85%業權,意向價約5.5億元。

有代理表示,項目位於長沙灣瓊林街109號聯興工廠大廈一籃子物業,共佔約84.8%業權份數,意向價約5.5億元,以現狀及連現有租約出售。

項目現為一幢樓高10層之工業大廈,地盤面積約8800方呎,被劃作其他指定用途註明「商貿」及「政府、機構或社區」用途。物業於2021年獲城規會批准放寬地積比率限制,並增至14.4倍以作准許的非污染工業用途發展,可建樓面面積約約12.672萬方呎。

該代理指,今番放售物業位處興旺地段,與鄰近第一集團新落成的環球商貿廣場三期可產生協同效應,加上所佔業權份數高,強拍阻力少,料獲發展商及投資者垂青。

(信報)