Savills Continues Brokerage Momentum with HK$640M Kowloon Deal  Mingtiandi Broker Battle

Savills tops Mingtiandi’s deal charts for the third time running, after reportedly linking up with First Group in the Hong Kong developer’s HK$640 million ($83 million) purchase of a commercial site in New Kowloon – right next door to a building the property consultancy helped the redevelopment specialist snap up just over two weeks ago.

In southern China, Cushman & Wakefield assisted Mapletree Investments in the en bloc sale of VivoCity Nanhai in Guangdong province to China Overseas Land and Investment. Up in the Chinese capital, the firm assisted a joint venture between Hony Capital and AEW in completing the RMB 3.67 billion ($520 million) acquisition of the Hopson International Building.

In Xi’an, CBRE helped China Poly sell a 60,000 square metre (645,835 square foot) commercial property to Xi’an-based Shaanxi Water Affairs Group.

With restrictions tightening in Singapore as a result of COVID-19, the city’s dealmaking was put on the back burner, but there were still appointments in the shophouse segment.

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

Hong Kong

According to Mingtiandi sources, Savills brokered First Group Holdings’ HK$640 million acquisition of the Belle Tower industrial building in New Kowloon. The Hong Kong redevelopment specialist purchased the commercial site at 916-922 Cheung Sha Wan Road from Belle Worldwide Limited, a subsidiary of China’s largest footwear and garments retailer.

Located adjacent to the Centennial Building, which First Group acquired just over two weeks ago for HK$790 million, the developer is expected to demolish the buildings and develop a new grade A office property on the site with a gross floor area of up 260,000 square feet (24,155 square metres). Savills is understood to have represented both the buyer and the seller.

Mainland China

According to local media accounts, Cushman & Wakefield assisted a joint venture between Beijing-based private equity investor Hony Capital and a fund managed by AEW in completing the acquisition of the Hopson International Building in Beijing – two years after the deal was first reported in Mingtiandi. The joint venture acquired the north building of the Beijing Oriental Culture and Art Center from a joint venture between Hong Kong-listed Hopson Development Holdings and BMI Funds for RMB 3.67 billion ($520 million). Read more>>

Mingtiandi understands that Cushman & Wakefield represented Singapore-based Mapletree Investments in the en bloc sale of VivoCity Nanhai in Guangdong province, with a subsidiary of China Overseas Land & Investment purchasing the 126,637 square metre shopping mall for an undisclosed amount. Read more>>

Mingtiandi understands that Cushman & Wakefield represented mainland developer Landsea Group in purchasing the Chengdu Kaidi Century Plaza commercial and residential project in the capital of Sichuan province from Chengdu Kaidi Real Estate for an undisclosed amount. The 32,089 square metre plot can be developed into as much as 215,400 square metres of built area, of which 160,000 square metres would be above ground. Read more>>

CBRE brokered the sale for an undisclosed sum of the Poly Centre commercial project in the Xi’an Economic & Technological Development Zone to Xi’an-based Shaanxi Water Affairs Group. The project covers a gross floor area of 60,000 square metres, with retail space occupying the first three storeys and office space spread across the fourth to 32nd storeys. Read more>>

Cushman & Wakefield has been appointed as the sole leasing agent by state-owned Beijing Energy Holding for a 31-storey commercial tower in China’s capital. Located at 16 Jianguomenwai Avenue on the east side of Chang’an Street in Beijing’s central business district, the CBD International Mansion has a gross floor area of 74,000 square metres with retail on the first three floors, topped by 25 storeys of office space. Read more>>

CBRE has been appointed by Galuminium Group as chief leasing agent for its 111,000 square metre headquarters building in Guangzhou’s Pazhou area. Located at the intersection of Pazhou Avenue and Haizhou Road, the 41-storey office tower, which will have floor plates of between 1,600 to 2,000 square metres, is due to be completed in October 2020. Read more>>

CBRE has also been appointed as chief leasing agent for Vanke’s 130,000 square metre office complex in Guangzhou, due to be completed by the end of 2020. Located at 1 Linjiang Avenue in Tianhe district, the complex comprises a 34-storey north tower and a 26-storey south tower. Read more >>

Singapore

JLL has been appointed to sell a freehold conservation building at the junction of Joo Chiat Road and Koon Seng Road at an asking price of S$34 million ($24 million). The property’s two-storey street front section, as well as a newer five-storey block located inside the courtyard, are zoned for commercial use. Based on the complex’ combined gross floor area of 20,895 square feet, the asking price equates to S$1,627 per square foot. Read more>>

Local property agent PropNex Realty has been appointed as sole marketing agent to sell a five-storey commercial shophouse at 32 Hongkong Street, at an asking price of S$9.8 million. Based on a gross floor area of 7,600 square feet, for the commercial property close to Clarke Quay MRT station, the asking price works out as S$1,290 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.

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