Colliers Brokers Sale of HK$500M in Causeway Bay Assets to SilkRoad and More Agency Wins  Mingtiandi Broker Battle

A commercial property deal in Hong Kong tops Mingtiandi’s list of brokerage victories this week with Colliers International brokering the sale of a combined 46,241 square feet of space in Causeway Bay for HK$500 million ($64 million).

Knight Frank and Cushman & Wakefield also notched up wins in Hong Kong, assisting with the sale of a redevelopment site in Tsim Sha Tsui for HK$1.76 billion, while Colliers scored a victory in Singapore, facilitating the sale of a Sentosa Bay hotel for S$235 million ($173 million).

Keep reading for all the details on which brokerage won deals this month, and if your team has capital markets or leasing victories to report, please contact us here at Mingtiandi.

Hong Kong

Colliers International is said to have brokered the sale of two units and an entire floor in the Victoria Centre, a commercial block in Causeway Bay to a regional real estate private equity firm on behalf of manufacturing and consumer goods conglomerate 3M. A company registered to Mark Khoo, a director of fund manager SilkRoad Property Partners, paid HK$500 million for the 46,241 square feet of office space in the building at 15 Watson Road. Read more>>

Knight Frank and Cushman and Wakefield, as joint sole agents, assisted in the sale of three 1960s-era buildings in Tsim Sha Tsui for redevelopment on behalf of CSI Properties. K&K Property paid HK$1.76 billion for the 8,107 square foot site on 21-27 Ashley Road, which is approved for development of a commercial building up to a maximum gross floor area of 97,284 square feet. Read more>>

Cushman and Wakefield has been appointed by Blackstone to sell the twentieth floor of One Island South, a commercial building developed by Wheelock & Co at 2 Heung Yip Road in Wong Chuk Hang, according to local media. The guidance price for the 29,526 square foot floor, which Blackstone acquired from HNA in the HKICIM purchase, is HK$650 million, equating to around HK$22,000 per square foot. Read more>>

Savills has been appointed by Hong Kong real estate company Gale Well Group to broker the sale of the Butterfly on Morrison Boutique Hotel at a target price of HK$1.2 billion. The 26-storey 3-star property at 39 Morrison Hill Road in Causeway Bay has a gross floor area of 56,000 square feet. Read more>>

JLL has been appointed by the executor of an estate to broker the sale of a detached house in the Overbays luxury residential complex at 71 Repulse Bay Road. The 3-storey property, which overlooks Middle Island and has 5,506 square feet of saleable floor area, has an asking price of HK$700 million, which equates to HK$127,000 per square foot. Read more>>

Mainland China

CBRE has been appointed by department store operator Lifestyle China as joint leasing agent for the office element of the Lifestyle International Center commercial development in Shanghai’s Jing’an district. The pair of 20-storey office buildings, which have received LEED gold pre-certification and have a combined gross floor area of 80,000 square metres, are due to be delivered on 1 March next year. Read more>>

CBRE has been appointed by Shanghai-headquartered Shimao Property as joint leasing agent for the office space in the developer’s Gate of Wisdom, a mixed-use development in Hangzhou featuring two 62-storey 272-metre towers, which is due to be completed by 2022. Read more>>

CBRE has been appointed to provide leasing management services for the Oriental Chunyi Building, an 18-storey commercial property in Shanghai’s Pudong district Shanghai which covers a gross floor area of 45,633 square metres. Read more>>

Singapore

Colliers International, as the exclusive sales advisor on behalf of vendors Fiesta Development Pte Ltd and Bay Hotel & Resort Pte Ltd, brokered the sale of the Bay Hotel Singapore to a consortium of investors, according to a statement by the agency on LinkedIn. The consortium, in which Singapore-listed Datapulse Investment holds a five percent stake, is paying S$235 million for the nine-storey hotel just across the highway from the Sentosa Express monorail station. Knight Frank provided the independent valuation for the sale. Read more>>

CBRE has been appointed as the exclusive marketing agent for the sale of the thirtieth floor of Springleaf Tower, a 37-storey grade A office building at the junction of Anson Road and Prince Edward Road in Singapore’s central business district. The asking price for the sale is S$29.5 million, which equates to approximately S$2,746 per square foot based on the strata area. Read more>>

Research for this story was provided by Li Yanxia and Iris Poon. Mingtiandi’s Broker Battle series is published twice monthly on Tuesdays.