CBRE Notches HK$916M Tai Tam Mansions Sale and More Agency Wins  Mingtiandi Broker Battle

While things have grown quieter in Hong Kong’s normally buzzing real estate market, CBRE scored a win with the combined HK$916 million ($117 million) sale of two luxury houses overlooking Tai Tam Bay, one of which sold for over $HK100,000 per square foot, breaking the record for the area.

Singapore last month saw a pair of mega deals, with the Duo Tower and 71 Robinson Road being sold for a combined S$2.3 billion, however, so far in August things have been quieter, with Colliers International making some of the biggest noise as it gets the nod to broker a collective sale which could bring in as much as S$2 billion.

On the mainland, while major investment transactions slowed down, CBRE, JLL, Savills and Cushman and Wakefield all notched new appointments.

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

CBRE is said to have brokered the sale of two of seven luxury houses developed by a joint venture between National Electronics Holdings and Baring Private Equity at 45 Tai Tam Road. The JV sold the two houses, which have a floor area of between 4,751 to 4,848 square feet (441 to 450 square metres) and overlook Tai Tam Bay, for a combined HK$916 million ($117 million). One of the pair reportedly sold for more than HK$100,000 per square foot, setting a new record for the area. Read more>>

Savills has been appointed as the sole agent for the sale of a ground floor unit and five parking spaces in a Kwai Chung industrial building at an asking price of HK$43 million. Located in the Kinwah Factory Building at 136–138 Tai Lin Pai Road, the unit has a gross floor area of 3,300 square feet. Read more>>

Mainland China

CBRE has assisted China United Gas Turbine Technology to relocate to BEZ Group’s International Electronic Headquarters in Beijing, where the company will take on 15,000 square metres of office space. Read more>>

JLL has been appointed by China Railway Group as the sole agent for the sale of strata title space, as well as providing operational management services, for the China Railway Nuode Centre, a 24-hour commercial complex in Guangzhou. Located in the city’s Wanbo central business district, the development has a total construction area of 20,000 square metres. Read more>>

Cushman and Wakefield has been appointed by the municipal government of Yingkou, in Liaoning province, to provide consultancy services for the industrial upgrading of the city, which includes development of an industrial park and transportation hub. Read more>>

Savills has been appointed by Fujian Sansheng Real Estate, a subsidiary of Hong Kong-listed Sansheng Holdings, to act as sole agent for the sale of strata title commercial space in the Fuzhou Sansheng International Center. The deal is a return engagement for Savills with Fujian Sansheng, after the consultancy in 2017 was appointed to provide property management services for the developer’s Sansheng International Centre in the Fujian provincial capital. Read more>>

Singapore

Colliers has been appointed as the marketing agent for the collective sale of 918 homes and two retail units at the Braddell View estate, which occupies a 1.14 million square feet hilltop site overlooking the MacRitchie Reservoir Park. The asking price for the collective sale is S$2.08 billion ($1.5 billion), which translates to a land rate of S$1,159 per square foot per plot ratio, based on a gross floor area of 2.4 million square feet after factoring in the estimated differential premium and the cost of topping up the lease to 99 years, according to Colliers. The property, which has a lease tenure of 102 years with effect from 1978, was initially put on the market in March, but received no bids after the tender deadline had passed in May. Read more>>

Knight Frank and Cushman & Wakefield provided valuation services for the sale of a good class bungalow at Nassim Road for S$95 million. OUE subsidiary OUE Reef Development sold the house, which sits on a 34,250 square foot plot, to its chairman Stephen Riady. Knight Frank valued the property at S$85.5 million, while Cushman & Wakefield valued the property at S$87 million. Read more>>

CBRE has been appointed as the sole marketing agent for the sale of a vacant five-storey factory unit in the city’s Kaki Bukit industrial area. Zoned for industrial use, the property at 9 Kaki Bukit Place occupies a site area of 4,795 square feet and has 36 years remaining on its leasehold. The asking price for the factory is S$5.5 million, or around S$420 per square foot, based on a gross floor area of 13,110 square feet. Read more>>

Colliers has been appointed to broker the sale of 33 strata retail units in the Basement 1 level of the Parklane Shopping Mall in Selegie Road. Occupying a combined floor area of 25,317 square feet, the collective asking price for the property is S$55.7 million, or around S$2,000 per square foot. The units have a 99-year leasehold tenure with effect from 1974, while the tenancy lease for 14 of the units, under five separate leases, will be expiring in 2020. Read more>>

JLL and Tuscany Realty have been appointed as joint marketing agents for the sale of a row of six adjoining conservation shophouses in Kampong Bahru Road for S$39.6 million, or around S$2,250 per square foot of gross floor area. Available to buy individually or collectively, the two-storey freehold structures are zoned for commercial use and occupy a combined land area of 7,068 square feet, giving the project an aggregate gross floor area of about 17,600 square feet. 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.

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