A pair of Hong Kong deals brokered by the same agency are at the top of Mingtiandi’s latest list of brokerage triumphs this week with CBRE said to have handled the HK$595 million($76.2 million) sale of CentreHollywood, as well as a HK$2.21 million per month lease of a 13,000 square foot (1,207 square metre) office in Central.
Hong Kong was the scene again for a JLL win on behalf of McDonald’s, as it helped the fast food chain flip a real estate McDeal, brokering the sale by public tender of two shop units in Tsim Sha Tsui for HK$900 million, while office space was on the menu for CBRE again as it helped an Indonesian serviced office provider lease its first location in Hong Kong.
On the mainland, Cushman and Wakefield was appointed to assist with the Hong Kong and China Gas Company’s relocation of its corporate headquarters in Shenzhen, while there were other appointments in Chengdu, Beijing and Singapore.
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.
CBRE are understood to have brokered the sale of 151 Hollywood Road, also known as CentreHollywood, for HK$595 million ($76 million) on behalf of Blackstone-owned HKICIM. Emperor International Holdings, a Hong Kong conglomerate controlled by local tycoon Albert Yeung, bought the 32,727 square foot (3,040 square metre) commercial tower in the city’s Sheung Wan area for the equivalent of HK$18,181 per square foot. Read more>>
CBRE assisted Millennium Management with its lease of 13,000 square feet at Two International Finance Centre in Central for a total of HK$2.21 million per month, according to market sources. The US hedge fund manager is paying the equivalent of HK$170 per square foot per month, making the deal one of Hong Kong’s most expensive major office leases reported so far this year. Read more>>
JLL successfully brokered the sale by public tender of two shop units in Tsim Sha Tsui for HK$900 million ($115 million) on behalf of McDonald’s, with the name of the winning bidder so far undisclosed. The retail premises on the ground floor of Star House at 3 Salisbury Road have a saleable area of approximately 4,260 square feet, and were previously leased to health and beauty chain Watsons. Read more>>
CBRE acted as the sole leasing consultant on CEO Suite’s agreement to take 25,000 square feet (2,508 square metres) in New World Development’s K11 Atelier in Tsim Sha Tsui, the first Hong Kong location for the co-working provider. The Jakarta-based company will be leasing the entire seventh floor for HK$2.97 million ($380,000) per month, or HK$110 per square foot. Read more>>
Cushman and Wakefield brokered the sale of Wellgan Villa, an 18-storey residential building at the northern fringe of Kowloon city for HK$760 million ($96.91 million). The buyer, Hong Kong Resorts International (HKRI) is paying the equivalent of HK$27,050 per square foot (HK$291,163 per square metre) of saleable area to Hong Kong-based Wellgan Investment Limited and its director Tsang Yuk Kiu. Read more>>
Cushman and Wakefield was appointed to assist the Hong Kong and China Gas Company’s with the relocation of its headquarters to a 5,250 square metres of office space it purchased in a grade A property developed by China Merchants Shekou in Shenzhen’s Luohu district. Read more>>
CBRE has been engaged to provide research and consultancy regarding the market positioning for the Paramount Pictures theme park development in Kunming. Construction on the theme park and resort, which has a construction area of 270,000 square metres, was previously planned to start in 2016. Read more>>
JLL has been appointed by Chengdu Huashang Group as asset and property manager to oversee the upgrade of the Central Plaza in Chengdu, which comprises two 38-storey office towers and the New World Department Store. Read more>>
Colliers has been appointed by the Beijing Daxing District Jingnan Logistics Base Management Committee to provide planning and consultancy services for upgrading the Jingnan Logistics Base, the largest logistics base in Beijing covering a site area of 180,000 square metres. Read more>>
In early June, a consortium led by Gaw Capital Partners was reported to be close to acquiring the Duo Tower office building and the connecting Duo Galleria shopping centre in Singapore’s Bugis area from a joint venture between Malaysian sovereign fund Khazanah Nasional Bhd and Singapore government investment powerhouse Temasek Holdings. The deal which is being brokered by JLL, is reported to carry a price of more than S$1.5 billion ($1.1 billion). Read more>>
List Sotheby’s International Realty brokered the sale of a luxury house on Sentosa Cove. The property, known as Copper House, was bought by Singaporean business magnate David Loh, a non-executive director of Centurion Corp, for S$32 million, or S$1,773 per square foot, 33% below the original asking price of S$48 million when the property debuted on the market in mid-2016. Read more>>
CBRE has been engaged to gather expressions of interest for the sale of a row of five adjacent freehold shophouses located in Singapore’s Kampong Glam Conservation Area. The properties on Baghdad Street have a combined floor area of 8,013 square feet, with an asking price of S$23.8 million ($17.6 million), or S$2,970 per square foot. 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.