Site sales dominate the headlines in today’s Hong Kong real estate roundup, with Swire Properties agreeing to pay billions of Hong Kong dollars to win a series of sites in Wanchai, where the top developer plans to build a residential-led tower. In other news, Sino Land has picked up CLP Group’s prized redevelopment site in the heart of Kowloon, while a residential parcel in the Kwun Tong area of Kowloon is up for grabs by public tender. Also in the news lineup is a bargain-bin co-working lease at Cyberport and a stata-titled office sale. Read on for more details.
Swire Properties has won a set of three sites in Wanchai for HK$2 billion ($256 million), consisting of the Po Wah Building at 46 to 56 Queen’s Road East, the buildings at 2 to 12 Anton Street and the site at 5 to 11 Landale Street.
The properties were auctioned under the Land (Compulsory Sale for Redevelopment) Ordinance and Swire plans to redevelop the site into a residential-led tower. The Po Wah Building is an ageing 14-storey structure, while the buildings at Anton and Landale street are both six floors tall. The sites cover an area of 12,800 square feet with a maximum gross floor area of 133,000 square feet. Read more>>
Sino Land Company Limited announced on Friday that it has won the tender for CLP Group’s Argyle Street redevelopment project in Kowloon. Sino Land and CLP (China Light and Power) will team up to develop the site, which the government has earmarked for a three-block, 25-storey residential property spanning 610,000 square feet. The project is reported to be valued at over HK$10 billion ($1.3 billion). Read More>>
The eighth floor of Enterprise Square Three, covering an area of 15,900 square feet, together with four parking spaces is now on sale for approximately HK$207 million ($25.6 million).
Located at 39 Wang Chiu Road in Kowloon Bay, the grade A commercial tower was developed by Kerry Properties. The 175 metre tall building is adjacent to Kai Tak Development’s transport network. Read more>>
A Kwun Tong site in the 2017-18 Land Sale Programme will be disposed of by public tender, the Lands Department announced on Friday.
The Lot No. 1068 in Survey District No. 3 off Anderson Road, with gross floor area between 14,456 and 24,093 square metres, has a site area of about 5,354 square metres and is designated for private residential purposes. Read more>>
HKR International announced that it would lease the 20,000 square foot office area of CDW Building in Tsueng Wan to Cyberport Management Company Limited at one-third of the market rate.
In response to HKSAR’s Space Sharing Scheme for Youth policy, the office space will be set up as a co-working space for start-ups. Read more>>
The SAR government has today released its blueprint to build Hong Kong into a world-class smart city.
The development plans in the next five years, mapped out in the Smart City Blueprint for Hong Kong, aim to enhance the effectiveness of city management and improve people’s quality of life as well as the city’s attractiveness and sustainability by making use of innovation and technology, an official statement said. Read more>>