CBRE Brokers HK$892M Sale of Former Wan Chai Nightclub and More Agency Wins  Mingtiandi Broker Battle

The former site of a notorious nightclub in Wan Chai is once again a hub of broker activity this week with CBRE picking up a win with the HK$892 million sale of the space on Jaffe Road.

Also in Hong Kong, Savills reportedly assisted with the HK$386 million sale of a Ginza-style building in Kowloon East, while on the mainland, Cushman and Wakefield bagged a sale of a 66,434 square metre office tower.

Savills’ Hong Kong team is marketing for redevelopment a mansion in the city’s poshest residential district that is expected to fetch up to HK$6 billion, and BlackHills has been appointed as the lead leasing agent for the tallest building in Qianhai.

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.

Hong Kong

CBRE is understood to have assisted Taiwanese private investor Miguell Chang Yen Shee with the HK$892 million sale of the Tonnochy Ballroom on Wan Chai’s Jaffe Road. Arch Capital Management has reportedly acquired the building, paying just over HK$29,700 per square foot for the 30,000 square foot retail building. Read more>>

Savills is reported to have brokered the sale on behalf of SOCAM Development of a Ginza-style commercial building at 93 Wai Yip Street in Kowloon East. Vincent Lo’s company sold the 27,727 square feet (2,575 square metres) property for HK$386.68 million, 12 percent above the asking price, after acquiring it for HK$303.5 million in December last year. Read more>>

Savills is marketing a property on the Peak owned by the family of tin-mining tycoon Loke Yew. The property at 30, 34, 36 and 38 Magazine Gap Road, which comes with permission to redevelop up to a maximum of 48,776 square feet, is predicted to sell for up to HK$6 billion ($770 million), according to market sources. Read more>>

Cushman and Wakefield has been appointed as the exclusive agent to broker the sale of the twenty-second floor of Wyndham Place Central, an office building at 44 Wyndham Street in the core financial hub of the city. Currently vacant, the 3,480 square foot premises has an asking price of HK$108 million, or HK$31,000 per square foot. Read more>>

Cushman and Wakefield has been appointed by a group of individual private owners of units  in the Sing Teck Factory Building on 44 Wong Chuk Hang Road in Hong Kong. The units, which together total roughly an 80 percent stake in the industrial building, have a combined estimated market value of HK$220 million, with potential for redevelopment into 240,000 square feet of new space. Read more>>

Mainland China

Cushman and Wakefield brokered the sale for Sino-Ocean Capital of Chengdu Huamin Hanzun International Building (成都华敏翰尊国际大厦), an office tower in Chengdu with a gross floor area of 66,434 square metres. The investment arm of Sino-Ocean Group sold the building to an undisclosed private buyer, with both buyer and seller represented by the property agent. Allbright law firm is also understood to have advised on the transaction.

Colliers has assisted China Vanke in leasing more than 60 percent of the developer’s Binhai Cloud Centre in Shenzhen. The building in Shenzhen’s Futian district has 54,000 square metres of leasable office space. Read more>>

Property consulting firm BlackHills’ Shenzhen team has been appointed by Shimao Group as lead leasing agent for the Qianhai Shimao Tower, a 300 metre tall grade A office located in Qianhai. The Gensler-designed building, which has received LEED gold pre-certification, is set to be completed by the end of the year. Read more>>

CBRE secured LEED EB Platinum Certification for the Shanghai International Shipping Finance Centre on behalf of China Ocean Shipping Company. Located in Pudong’s Lujiazui financial district, the 50-storey commercial building has a gross floor area of 124,814 square metres. Read more>>

Cushman and Wakefield signed a joint venture agreement with Lize Holdings and Jintang Tianrun Group to provide property management, consulting, planning and training in Beijing’s Lize Financial Business District, an emerging area with a planned total land use of 8.09 kilometres. The Jintang Xilian Building will be the joint venture’s first project. Read more>>

Singapore

Savills brokered the collective sale of six townhouses on Mattar Road for S$8.5 million ($6.2 million), or approximately S$776 per square foot. The combined freehold site of 7,842 square feet includes a set of four existing walk-up apartments of around 2,100 square feet each. Read more>>

Knight Frank has been appointed to broker the en bloc sale of a row of four freehold conservation shop houses in Geylang that were damaged by fire in March. Zoned for commercial use, the 5,113 square feet construction site can be redeveloped into a maximum gross floor area of 15,339 square feet, and have an asking price of S$14 million. Read more>>

Knight Frank has been appointed to broker the sale of a bungalow at 80 Belmont Road, near the Holland Village enclave and the Singapore Botanic Gardens. The two-storey freehold property, which has a gross floor area of 15,714 square feet, has an asking price of S$42 million, or S$1,557 per square foot. Read more>>

CBRE has been appointed to broker the sale of six adjacent three-storey freehold conservation shophouses on Joo Chiat Road in the heart in the East Coast area. The shophouses, to be sold as a bundle, come with permission to redevelop up to a maximum allowable gross floor area of 22,200 square feet. Read more>>