A trio of investment transactions in Hong Kong leads the way in Mingtiandi’s latest list of brokerage wins with Savills brokering the sale of a 32-storey office tower in Sheung Wan for HK$1.9 billion, while Cushman and Wakefield negotiated the disposal of an industrial building in Cheung Sha Wan for HK$1.4 billion as well as managing a tender of three luxury houses at Wheelock’s Savannah project for a combined HK$188.7 million.
Hong Kong was also the scene of two big leasing transactions with Colliers securing a deal to re-house the Bankers’ Club in 20,000 square feet in Central, and Savills brokering the lease of 70,000 square feet in Kowloon Bay’s Kingston International Centre.
Meanwhile on the mainland, there were leasing agency wins for Colliers at Kexing Science Park in China’s Silicon Valley, as well as an appointment for JLL on Shanghai’s East Bund.
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.
Savills is understood to have represented the owners of Hong Kong’s Kingboard group in selling 69 Jervois Street, a 32-storey office tower in the city’s Sheung Wan area to Arch Capital for HK$1.9 billion. The private equity fund manager concluded the purchase of the 102,177 square foot asset during April. Read more>>
Cushman and Wakefield brokered the sale of an industrial building in Cheung Sha Wan on behalf of Hang Lung Properties, with Laws Property Group buying the 11-storey building for HK$1.4 billion. The property at 822 Lai Chi Kok Road, which has a total floor area of 94,151 square feet and a site area of 14,190 square feet, can be redeveloped for industrial, retail and commercial use up to 146,000 square feet of gross floor area. Read more>>
Cushman & Wakefield’s Maggie Chu led the successful sale by public tender of a trio of luxury houses at Wheelock’s Savannah project in Hong Kong’s Tseung Kwan O area for a combined HK$188.7 million, according to sources at the property consultancy. C&W represented Wheelock in the sale, achieving an average price of HK$31,640 per square foot of saleable area for the suburban homes.
Mingtiandi has learned that Savills has brokered the lease of two and a half floors of the 22-storey Kingston International Centre to an unnamed shipping company said to be paying HK$2.45 million ($310,000) per month, or the equivalent of HK$35 per square foot per month for the 70,000 square feet (6,503 square metres) of office space. The 2018-vintage tower, located at 19 Wang Chiu Road in Kowloon Bay and developed by Swire Properties, sits at the junction of Wang Chiu Road and Lam Lee Street, a ten minute walk from Kowloon Bay metro station.
Colliers has brokered the leasing of 20,000 square feet of the Nexxus Building in Central to the Bankers’ Club, as reported previously in Mingtiandi. The financier social group will up sticks in the third quarter of 2019 after 38 years in Hongkong Land’s Gloucester Tower, with the club’s new rent at 41 Connaught Road costing HK$2 million per month, or HK$100 per square foot. Read more>>
Knight Frank has been appointed as the sole agent for the sale of an 11-storey industrial building in the Kwai Chung area of the New Territories that falls under the government’s revitalisation of industrial buildings scheme. The class C property, at 17-21 Kwai Sau Road, has a site area of approximately 5,700 square feet, and is ten minutes’ walk from Kwai Hing MTR Station. Read more>>
Knight Frank and Cushman and Wakefield were appointed as joint sole agents for the sale of 21-27 Ashley Road in Tsim Sha Tsui. The property, which is five minutes’ walk from Tsim Sha Tsui metro station, has a site area of 8,107 square feet and is approved for redevelopment as a commercial building with a maximum gross floor area of 97,284 square feet. Read more>>
Cushman and Wakefield has been appointed to broker the sale of two adjacent 1970s tenement buildings in Tai Kok Tsui for an estimated price of HK$360 million. The buildings at 1-3 Tang Fat House and 69-71 Tong Mi Road currently have retail shops on the lower floor with homes above. Combined the properties have a site area of 4,400 square feet, and can be redeveloped up to a gross floor area of 39,600 square feet. Read more>>
JLL has been appointed to broker the sale of five floors in the Sandoz Centre industrial building in Tsuen Wan with an estimated price tag of HK$370 million, or HK$4,800 per square foot. The fifth to tenth floors of the building at 178-182 Texaco Road have a combined floor area of 77,100 square feet. Read more>>
CBRE has been appointed as the exclusive agent to broker the sale of a unit on the eleventh floor of the East Ocean Centre commercial building at 98 Granville Road in Tsim Sha Tsui. The property agent is marketing the 5,570 square foot unit at HK$108 million, or HK$ 19,390 per square foot. Read more>>
CBRE has been appointed to broker the sale of the seventh and eighth floors of the Ever Gain industrial building at 28 On Muk Street in Sha Tin in the New Territories, together with a cargo bay and four covered parking spaces. The agency has put an asking price of HK$505 million, or around HK$5,302 per square foot, for the two floors which measure a combined 95,242 square feet of floor area. Read more>>
Colliers has been appointed by Genzon Investment Group as the leasing agent for the second phase of the Kexing Science Park in Shenzhen’s Nanshan Science and Technology Park business zone. The 43-storey office tower was completed in 2018 and each floor of the 200 metre tall tower provides 3,137 square metres of leasable space. Read more>>
CBRE has been appointed by Shimao Property Holdings as the leasing agent for the office space in the developer’s Global Financial Centre in Changsha, the capital of Hunan province. The landlord rep team will now be tasked with marketing the office element of the 227,000 square metre, 343-metre-tall project. Read more>>
Colliers has been appointed to provide exclusive leasing services and asset management for Trinity Place in Shanghai’s Putuo district on behalf of BlackRock. Purchased by the US investment firm for $199 million in 2017, the 27-storey tower at 868 Changshou Road near the intersection with Wuning Road was known as the China CTS Tower before its renovation four years ago, and now boasts WeWork and Samsung as tenants. Read more>>
JLL has been appointed as the sole agent for the Shanjin Poly Financial Plaza developed by Shandong Gold Group and Poly Developments and Holdings. The 110,000 square metre complex in Shanghai’s East Bund, due to be completed by the end of 2019, comprises four commercial buildings designed by US architects SOM and design firm SWA at the junction of Yangshupu Road and Jiangpu Road. Read more>>
CBRE has been appointed as the exclusive leasing agent for The Exchange Beijing at 118b Jianguo Road, a 21 storey office tower with a leasable floor area of 37,600 square metres located at the crossroads of Jianguomenwai Avenue and the East Third Ring Road. Current tenants include Samsung (China) Investment, Tahoe Group, and American Standard. Read more>>
CBRE and Savills have been appointed as joint leasing agents for the 64,000 square metre Tower A of Singapore-based CapitaLand’s Raffles City Chongqing, a 1.12 million square metre development with a total investment of RMB24 billion ($3.47 billion). Each floor of the 40 storey LEED-certified office building has a leasable area of between 1,400 and 1,800 square metres. Read more>>
Savills brokered the lease in May of a 10 storey commercial building in Hanoi to IWG’s Spaces. The 3,000 square metre Belvedere Building at 28A Tran Hung Dao has been rebranded by the flexible workspace provider as Spaces Belvedere to provide 2,500 square metres of office space as well as meeting rooms and event spaces. 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.