樂風3.1億購旺角全幢舊樓周佩賢：總投資六億重建商住項目

市區土地供應缺乏，並成為財團併購目標，其中樂風集團等新近斥資約3.1億，收購旺角洗衣街全幢舊樓，樓面呎價10406元，將重建為商住項目，總投資額涉逾6億。

樂風集團創辦人及主席周佩賢表示，是次集團與私人財團FoundationII，以約3.1億收購旺角洗衣街181至183號全幢物業，樓面呎價約10406元。計畫重建成1幢22層商住項目，初步計畫1至2樓為商鋪，樓上則為住宅，總投資金額涉逾6億。

樓面呎價逾萬元

周佩賢續指，項目鄰近舊水務署「洗衣街及旺角東站政府用地綜合發展計畫」，為近年九龍區規劃中的焦點建設，落成後將成為全新地標式建築群，亦會產生協同效應地帶動商業、旅遊及購物等發展，促使區域大變天，預計將進一步提升該區的發展潛力及價值。

與此同時，集團看好油尖旺區配合西九龍發展區的整體長遠發展潛力，認為現時樓市主要由用家剛性需求帶動，預期後市氣氛將持續向好。同時，集團亦將繼續積極吸納土地儲備，包括市區優質商業及住宅地皮。

該項目坐落於旺角東核心地段，擁開揚景觀，毗鄰大型購物商場。現時為1幢樓高11層的商住物業，樓齡約43年。屬「住宅(甲類)」用途，地盤面積約3310方呎，以最高地積比率9倍計算，可建樓面約29790方呎。

可建樓面約2.97萬呎

有代理表示，市區具重建價值住宅項目備受矚目，不論本地或中資發展商或財團，皆看好地段優越、配套成熟的市中心區域。料未來旺角東一帶作為本港商業、購物及旅遊中心的地位將進一步提升。

(星島日報)

上環信裕大廈高層 連租約叫628萬

疫情影響，商廈叫價亦相對回落，反而成為入市好時機，如新近放售的上環信裕大廈高層單位，業主調低叫價近2成，現連租約以約628萬元放售。

備來去水位 合美容牙醫行業

代理指，位於上環文咸西街48號信裕大廈高層A室，面積約825平方呎，現以約628萬元放售，平均呎價7,612元，單位將以連租約出售，租期至今年年底。

單位設有來去水位，備美容院裝修，適合美容或牙醫等行業，租約屆滿後，租客選擇更具彈性。至於單位現時市值呎租約22元，以意向價計，租金回報可達3.5厘。據悉，業主於去年已放盤，當時叫價約780萬元，近期因應市況下調叫價，亦持續調整，減幅約2成，期望吸引投資者承接或用家轉租為買。

代理指，現時整體寫字樓租金持續向下調整，令租金回報受影響，而受制於租務的買賣價亦相應下降，個別業主更趁勢套現離場，重整投資組合，如早前金鐘夏愨道18號海富中心1期低層單位，面積約2,625平方呎，業主一直只租不賣，去年11月叫租約每平方呎55元，後因疫情關係，租金叫價一直下調至最近約38元水平，同時，業主亦做足準備，將單位推出市場放售，意向呎價約3.1萬元。

代理續指，投資環境未明朗，陸續有業主相繼放售物業，且議價空間亦進一步擴大，令市場盤源增多，除了投資者伺機入市外，亦出現租戶自置物業，為市場帶來另一種商機。

(經濟日報)

興勝葵涌工廈重建 城規明審批

活化工廈重建申請陸續獲批，興勝創建 (00896) 持有的葵涌業成街22號太平洋貨運大廈，擬重建成新型工廈，將於周五城規會審批，規劃署指不反對有關申請；另外荃灣灰窰角街24至32號工廈重建亦料獲「開綠燈」。

興勝創建持有的葵涌業成街22號太平洋貨運大廈，發展商申請將地積比率由9.5倍，增加2成至11.4倍重建，計劃興建成1幢23層高(連兩層地庫)的新型工廈，涉及樓面約6.53萬平方呎。規劃署認為，符合活化工廈政策的方向，工廈發展亦跟所在「工業」規劃用途協調，故此不反對有關申請。

至於業主就荃灣灰窰角街24至32號工廈，申請重建成1幢22層高新型工廈，亦獲規劃署不反對，料將會一同在本周五城規會獲批准。

(經濟日報)

Hong Kong’s office market is hollowing out as vacancy rate hits 10-year high. Who can save the landlords?

Hong Kong’s office landlords are facing the biggest crunch in a decade as rents slide and vacancy rate surges in the city’s notoriously pricey market.

About 1.1 million square feet (102,193 square metres) of space in Central business district would have been vacated by businesses by the end of last month, property agency estimates. Imagine a totally empty HSBC headquarters, or two blocks of One IFC Tower. At 8.5 per cent, the vacancy rate is the highest since December 2009.

From Expedia to Macquarie Bank and the creator of the League of Legends mobile game, companies have trimmed their office demand as Hong Kong lurches from one political crisis to another, along with the impact of widening US-China trade differences.

“Some landlords have finally accepted the fact the sweet old days are over,” property agent said. “They are now willing to cut prices.”

While the sector is fast becoming a tenants’ market, more companies are still expected to bail on their leases, according to a market data provider. On top of the vacancy in Central, they have surrendered 900,000 square feet across the city in the first five months of this year, triple the volume in all of 2019.

The Central business district itself could see a 30 per cent increase in surrender listings over the next three months, an analyst at the Hong Kong-based real estate platform said.

Pressured by leases expiring this year and in 2021, landlords will have no choice but to cut rent sharply to retain them, he added.

Some 25,000 sq ft on the 31st floor of The Center, the world’s most expensive business address, are still on the market since online travel group Expedia began cutting back its operations at the start of the year. Landlords are now willing to consider HK$60 per sq ft for the lot that fetched HK$83 per sq ft in 2018, property agents said.

Riot Games, which develops the League of Legends mobile game, is seeking to sublease its space on the 53rd floor of the same building, said Scott Gelb, chief operating officer of the Tencent unit. Land Registry data indicates it has given up some of the space it signed up in 2019.

“We’re always evaluating space needs at all of our offices and have shifted plans such that we will not need to expand in Hong Kong for the time being,” Gelb told the South China Morning Post. “We will be maintaining our presence on the 51st floor.”

The Cheung Kong Center, owned by Li Ka-shing’s CK Asset Holdings, is still looking for takers for about 230,000 sq ft of space, months after they were vacated by its previous tenants. The size amounts to 10 of the 62 floors in the building. Five more floors will be added to the market when the Securities and Futures Commission moves out in August.

Yet, cheaper rents may not be enough to lure tenants, who themselves are battening down the hatches amid the city’s worst recession. Job losses this year have pushed the unemployment rate to near the highest in a decade, too.

At Henderson Land, total rental income across its portfolios – mainly in the office sector including the twin tower known as One International Finance Centre (IFC) – has declined by around 10 per cent in the most recent results.

“Some of our tenants in IFC office towers were considering reducing the size of their offices or ending their leases,” said Martin Lee Ka-shing, co-chairman of Henderson Land told shareholders on Monday. He was probably referring to Macquarie Bank, among them.

In hindsight, some landlords may have regretted not lowering rents fast enough last year to keep their tenants, as the pandemic worsened the market conditions.

“No one has a crystal ball,” property agent said. “They for sure did not expect that the hot market would be hit by the triple whammy of social movement, pandemic and the uncertainty surrounding the US-China relationship. Even with cheaper rents now, it is not easy to find new takers in a short span of time.”

For example, the entire 38th floor and some on the 39th floor in The Center are currently still empty after Goldman Sachs moved out at the end of 2018. In Causeway Bay, Hysan Development has so far failed to find new tenants for two of the five floors in Hysan Place to be vacated by KPMG in the coming weeks.

The pool of companies opening new offices or expanding in Hong Kong is quite small, market observers said. Mainland investors, who pushed the market to dizzying heights in 2008 with their acquisitions, are holding back.

Since anti-government protests broke out a year ago, many have stayed away after being targeted by violent protesters, thus depriving the market of its biggest and powerful benefactors.

The market is now pinning its hopes on Chinese technology companies, as more of them turned away from Wall Street to Hong Kong for stock listings, a consultancy firm said. They include JD.com, NetEase and Baidu Inc.

“But a lot of them already have built a presence with international investors through their listings in the US,” the consultant added. “They do not need an expensive address in Central to build up their image.”

Online payments operator Ant Financial Services said it has signed up for one floor measuring 17,000 square feet in Times Square in Causeway Bay.

It will get worse before it gets better, according to property agent.

“Even buildings with big developer-landlords have seen rents plunging by 15 per cent from the peak in 2018,” the agent said. “Another 10 per cent discount will be offered by the end of this year as everyone is fighting to retain their existing clients.”

(South China Morning Post)

Brochure released for Sea To Sky flats

CK Asset (1113) has released the sales brochure for Sea To Sky in Tseung Kwan O.

The project offers a total of 1,422 units measuring between 434 and 1,077 square feet.

In Ma On Shan, Henderson Land Development (0012) sold a 2,844 sq ft duplex apartment at Double Cove for HK$57.7 million, or HK$20,288 per sq ft, and a 3,112 sq ft duplex apartment at the estate for HK$58.5 million, or HK$18,798 per sq ft.

In the secondary market, a 792 sq ft flat at High Park in Prince Edward changed hands for HK$17.5 million, or HK$22,096 per sq ft, after HK$4.5 million was cut from the original asking price, as the vendor is planning to emigrate.

A 432 sq ft flat at Maritime Bay in Tseung Kwan O changed hands for HK$7.3 million, or HK$16,898 per sq ft, after HK$100,000 was cut from the initial asking price.

In the commercial property market, travel technology company provider Expedia is giving up its 25,000 sq ft office at The Center in Central, two years before the lease is set to expire in June 2022, local media reports. Expedia is currently leasing the office for HK$1.75 million per month.

This came as the company laid off 3,000 workers globally in February as the COVID-19 pandemic brings travel to a standstill.

The Nasdaq-listed firm is one of the largest online travel services providers in the world. Its website and mobile app can be used to book airline tickets, hotel reservations, car rentals, cruise ships, and vacation packages.

(The Standard)

Wing Tai books HK$1.6b in Tuen Mun project sales

Wing Tai Properties (0369) has generated HK$1.64 billion from the sales of 302 flats at OMA by the Sea in Tuen Mun.

Wing Tai executive director Chung Chi-lam, said the group is considering reducing the discounts.

Chung said the national security law would not impact Hong Kong's housing market, and that home prices would fluctuate by about 10 percent due to a shortage of supply.

He said emigrants may not be willing to sell the properties in Hong Kong as they may miss out on potential returns from rising home prices.

(The Standard)