A successful collective sale in Singapore leads this edition of Mingtiandi’s roundup of agency wins with Colliers’ having brokered the $291 million sale of an apartment block in District 10 to an entity linked to Hong Kong billionaire Li Ka-shing’s CK Asset Holdings.
CBRE also notched a win in the Southeast Asia’s wealthiest metropolis, as it managed the S$141 million sale of an apartment block near the City Hall area.
In Hong Kong, JLL scored in Yau Ma Tei, brokering a HK$183 million deal that saw CNT Group acquire a 24-storey property, and CBRE advised on the sale of 62-68 Chun Yeung Street to China Vanke for HK$580 million.
There were also hotel victories for Savills and JLL in Japan and Korea, while in mainland China CBRE secured a leasing deal in Shanghai.
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.
Colliers has brokered the collective sale of City Towers, an apartment block in Singapore’s exclusive District 10. Japura Development, an entity linked to Hong Kong billionaire Li Ka-shing’s CK Asset Holdings, paid S$401.9 million ($291 million) for the residential redevelopment project, or the equivalent of S$1,847 per square foot of new housing, based on a potential redevelopment area of 219,516 square feet (20,394 square metres). Read more>>
CBRE brokered the sale of the second of two blocks in the Min Yuan apartments, a 16-storey residential complex at 62 Waterloo Street near City Hall. Singapore-listed Fragrance Group paid S$141 million for the property, or the equivalent of S$2,295 per square foot, based on a potential redevelopment of 61,440 square feet. The developer, which now owns both Min Yuan blocks, plans to build a hotel on the site with a gross floor area of 121,794 square feet. Read more>>
JLL and Cushman and Wakefield have been appointed by a subsidiary of Oxley Holdings as exclusive joint agents for the sale of the seven-storey retail and office podium at 30 Raffles Place. The 51,376 square feet of retail space at the foot of the skyscraper formerly known as Chevron House is being offered at a guide price of between S$5,000 and S$5,500 per square foot, while the 58,286 square feet of office space is being offered vacant at a guide price of between S$3,000 to S$3,300 per square foot. Read more>>
Savills has been appointed to manage the collective sale by tender of a freehold residential site on Nassim Road in Singapore’s prime District 10. Known as Beaufort on Nassim, the 30 condominium units occupy a site area of 45,344 square feet that can be redeveloped into luxury condominiums of no higher than four storeys with a gross floor area of 63,408 square feet. Bidding is expected to top S$223 million. Read more>>
JLL has been appointed as the marketing agent for a portfolio of 32 freehold shophouses along Lavender Street and Serangoon Road in the Kallang area at an asking price of S$138 million, or around S$1,736 per square foot based on the properties’ combined gross floor area of 79,502 square feet. Zoned for commercial use the buildings occupy a combined site area of 49,244 square feet with gross plot ratio of 3.0. Read more>>
Market sources indicate that CBRE brokered the sale of 62-68 Chun Yeung Street in Hong Kong’s North Point neighbourhood to mainland developer China Vanke for HK$580 million ($74 million). The company’s Vanke Property (Hong Kong) unit bought the 4,300 square foot site earmarked for a commercial or mixed-use development on behalf of a private company controlled by Alexander Law Sau Wang, a member of the family which owns Hong Kong developer Yu Tai Hing, according to a report by mainland news outlet Guandian.cn. Read more>>
JLL Hong Kong has been appointed by Henderson Land Development to broker the compulsory sale by auction of the remaining 20 percent of the tenement buildings not already held by the developer at 1-21C Whampoa Street and 80-86 Baker Street in Hung Hom. The five buildings are being offered at a reserve price of HK$2.137 billion, with the potential to be developed up to a net leasable area of 177,525 square feet. Read more>>
Landscope Christie’s has been appointed as sole agent to market for sale a luxury four-bedroom townhouse at 10 Mount Butler Drive in the exclusive Jardine’s Lookout area at an asking price of HK$115 million. The 1,908 square foot property, which market sources indicate was previously occupied by a senior executive at Swire, has an asking price of HK$115 million, or roughly HK$60,273 per square foot.
Landscope Christie’s has been appointed as joint sole agent to sell a luxury townhouse in the exclusive Bay Villas complex in Shouson Hill. The 3,608 square foot property has an asking price of HK$338 million, or the equivalent of HK$93,681, after previously being on the market at HK$350 million.
CBRE has facilitated the leasing of the 36th floor of the 220-metre tall Zhongrong Jasper Tower in Shanghai’s Lujiazui financial district to an undisclosed financial organisation. The tenant is leasing the 1,961 square metre office in the building at 8 Middle Yincheng Road for an undisclosed amount. Read more>>
Savills has been appointed by Zhuhai Huafa Group as the exclusive leasing agent for the state-owned enterprise’s 51,483 square metre Huafa Weilaihui office building in Wuhan’s Hanyang district. Read more>>
Savills has been appointed by King Wai Group as leasing agent for the King Wai City Oasis, a mixed-use project in Shanghai’s Baoshan district that has 112,000 square metres of retail space, a 19,000 square metre hotel, and 14,000 square metres of office space. Read more>>
Savills advised Hilton Worldwide on the sale of the Hilton Odawara Resort & Spa to a joint venture between Mori Trust and Mori Trust Hotel REIT. The 50:50 JV paid $119 million for the upscale 163-room hotel that Hilton had acquired in 2015 for $7.5 million after managing it under the Hilton brand on behalf of the city of Odawara since 2004. Read more>>
JLL is advising on the sale of the Grand Hyatt in Seoul to PAG for KRW 500 billion ($410 million), according to market sources. The investment management firm led by Weijian Shan is said to be carrying out due diligence on the 615-room hotel, with a sale expected to be agreed in October. Read more>>