Home / Tag Archives: CRL

Tag Archives: CRL

Sterling Financial launches New Providence Opportunity Fund, A Real Estate Investment Fund, and Announces Its First Real Estate Acquisition

-- "The New Providence Opportunity Fund, Ltd. presents an excellent opportunity to investors to capitalize on decades of property experience of its Sponsor and it drives significant synergies with the existing fixed income mortgage funds managed by Sterling Financial Group, Inc."

NASSAU, The Bahamas, Aug. 22, 2014 /PRNewswire/ -- Nassau, The Bahamas based Sterling Financial Group ("Sterling"), announces the launch of the New Providence Opportunity Fund, Ltd. (the "Fund"). The Fund is a closed-end equity investment fund consisting of high net worth and institutional investors, which targets diverse real estate investment and development opportunities in the United States, Canada and the Caribbean.

The Fund seeks to benefit from Sterling's access to fundamentally sound real estate investments including development opportunities that were financially challenged by the Recession. The Fund will be active in markets where Sterling has both extensive real estate experience and existing platforms. Leveraging its relationships with developers, real estate private equity firms, private family investors, entrepreneurs and financial institutions, the Sponsor will identify opportunities, and upon acquisition, provide value-add initiatives to maximize total returns.

"We are pleased to bring New Providence Opportunity Fund to the market," said Steve Tiller, President and COO of Sterling "We believe that the combination of our extensive real estate investment, development and management capability and a highly efficient funding structure, is a recipe for success for many investors in today's market," Tiller continued. David Kosoy, Sterling's Chairman and CEO added, "we are pleased to add this fund to our other real estate offerings available, and I believe it is a great complement to our platform."

Simultaneously with the first closing of the Fund, Sterling is also announcing the acquisition and further development of Ocean Terrace, an existing ocean front condominium project located in the West end of New Providence island. The acquisition includes additional green-field acreage for future development.

"Ocean Terrace is now under new ownership and we are revitalizing a project that has been idle for some time. It is a true sign of strong improvements currently experienced in the Nassau real estate market and especially in the highly sought after western district. The project is an excellent addition to the notable projects that Sterling is involved in and it is a terrific complement to our portfolio", added Tiller.

The Sterling platform focuses on providing access to alternative market opportunities without compromising the North American standard for risk management, operational efficiency and regulatory requirements. Sterling leverages a management team with interdisciplinary real estate experience, a strong internal infrastructure and partnerships with leading service providers in order to capitalize on unique real estate investments and structures.

Kosoy further noted, "We have seen an increased demand from investors for quality real estate projects and funds that would diversify their exposure to traditional investments as well as providing attractive returns. We are pleased that we can offer a proven strategy on a tried and tested platform to a wider base of offshore and onshore investors through a product that has a potential to significantly enhance and diversify their portfolios."

Sterling Financial Group, Inc., a fully integrated and diversified real estate investment, development, management and services company that has an established track record of successes in the real estate industry. Over the past 40 years, Sterling and its principals have acquired over 5.5 million square feet of commercial real estate at a combined purchase price of over $2 billion. Prior to founding Sterling, the principals had previously been part of the controlling group of a publicly traded real estate company, which acquired and managed a portfolio of more than 20 million square feet of real estate across North America. Sterling is headquartered in Nassau, Bahamas.
www.sterlingbahamas.com

NPOF Launch Press Release
For further information please contact:

Sterling Financial Group
T: +1-242-677-1900
E: cwalker@SterlingBahamas.com

Sharell Carroll
SageEden Media Group
T: +1-242-356-0646
info@sharellcarroll.com

Notes for Editors

ABOUT STERLING FINANCIAL GROUP INC.
Sterling Financial Group is a Nassau, Bahamas based, financial services business founded in 2006. The company is privately owned and is regulated by the Securities Exchange Commission under the Financial Service and Corporate Providers Act.

The series of real estate and mortgage funds managed by Sterling invest and profit from a portfolio of privately held real estate investments and mortgage loans. The business is administered by David Kosoy and Steve Tiller and other respected real estate professionals who collectively have significant experience in the real estate and mortgage lending markets. The principals of Sterling have a track record over the past 40 years of successfully and consistently generating profits in the real estate investments and mortgage lending sectors in Canada, the Bahamas, the U.S. and the U.K.

Read More »

APAC Hospitality Investments in 2013 Highest in 5 Years

1H 2014 continues to see healthy level

HONG KONG, Aug. 21, 2014 /PRNewswire/ -- Cushman & Wakefield, Global Real Estate Consultancy, in their latest report on the hotel markets across 17 gateway cities and prime destinations in Asia and Australia, reported that hospitality investment market in the Asia Pacific reached a record high transaction volume of US$12.83 billion in 2013, the highest in the last 5 years and over 30% higher than 2012.

There had been a substantial weight of capital invested in the core markets with mainland China accounting for US$2.636 billion or 20.5% of the total investment volume, Singapore the second largest market at US$2.634 billion, followed by Japan at US$2.610 billion and Australia at US$2.271 billion. Hotel investments were also more widespread across the region in 2013, where emerging and non-core markets like Cambodia, Macau, Maldives saw some assets changing hands.

Akshay Kulkarni, Regional Director of Cushman & Wakefield's Hospitality Services for South Asia and Southeast Asia said: "Hospitality investment volume in 2013 more than doubled since 2008 and can be attributed to the excess liquidity, the low borrowing costs and the region's favourable tourism growth and outlook."

The cities included in the report are Singapore, Hong Kong, Tokyo, Bali, Seoul, Mumbai, National Capital Region (India), Bangkok, Shanghai, Jakarta, Kuala Lumpur, Beijing, Ho Chi Minh City, Sydney, Melbourne, Perth and Brisbane. 

In the first half of 2014, total investment volume of hospitality assets reached US$5.203 billion, which is 9.5% higher compared to the same period last year. While the core markets of Japan, Singapore, mainland China and Australia are still the most traded ones and constitute about 68.8% of the investment volume, other emerging markets such as Philippines, Malaysia, Sri Lanka and Indonesia have experienced higher investment quantum compared to the same period last year.  For 2014, Cushman & Wakefield expects the hospitality investment market to moderate, and likely to close at US$9.0 to US$10.5 billion.

Table 1 : Asia Pacific Hospitality Investment Volume in US$ (million)

Countries/regions

2013

2012

2013 H1

2014 H1

Australia

2,271.06

2,699.10

592.42

654.27

Cambodia

6.40

-

-

8.71

Mainland China

2,636.26

1,558.60

787.56

1,678.62

Hong Kong

1,155.03

1,022.10

400.53

246.77

India

141.28

89.70

89.37

84.31

Indonesia

14.00

31.61

-

55.91

Japan

2,609.65

2,337.51

1,234.71

881.74

Korea

40.12

241.39

31.47

91.53

Macau

419.05

-

-

115.97

Malaysia

137.29

123.15

57.41

309.18

Philippines

35.85

96.34

35.85

204.16

Singapore

2,634.34

742.80

974.08

364.65

Sri Lanka

42.33

8.67

7.73

30.24

Taiwan

55.80

288.38

40.03

6.82

Thailand

205.11

350.67

176.22

166.76

Vietnam

246,04

184.28

246.04

44.66

Others (incl. Maldives)

181.94*

-

77.34

249.57

Total

12,831.55

9,774.29

4,750.76

5,202.58

Source: RCA Analytics, Cushman & Wakefield Hospitality

In 1H 2014, some notable transactions include the 5-star Park Hyatt in Melbourne sold by the GIC Pte Ltd to Hongkong-based Fu Wah Group for US$120.5 million (or US$502,000 / key), Hilton Hua Hin Hotel sold to Thai-listed Saha-Union PLC for US$98.9 million (or US$334,000 / key) and Sutera Harbour Resort at Kota Kinabalu grsold to SGX-listed GSH Corporation for US$275.7 million (or US$288,000 / key).

Kulkarni added, "We expect the balance of 2014 to equal or come close last year's level in terms of transactional activity. Japan has already seen significant investment volume and will undoubtedly improve further and lead the pack, due to strong corporate demand and greater investor optimism arising from Abe's economic reforms. Lower hotel transaction volume is expected for Singapore this year compared to last year, at least in the organized institutional side. However with the change in norms on the shop houses those that have approved hotel licenses will see high guest demand.

Mainland China in the first half of this year has seen investments of over US$1.5 billion. This obviously shows significant confidence in the markets and their potential, and also indicative of the fact that assets may be trading at below par and there is an eventual upside. However given the current trading performances in the key Chinese markets and also the relative slowdown of the economy the forecast in terms of investments is that these volumes will taper.

Some of those that gain would be India as it will see a significant rise due to the change in approach to debt service and banking norms forcing asset restructuring companies to offload some of their stocks. This in addition with the positive way in terms of the political climate provides India with a significant opportunity to attract a significant share of the regional investments."

"Thailand, Indonesia, and to some extent, Philippines, Sri Lanka could see more exciting times ahead with some major transactions to be closed. Emerging countries such as Myanmar and Cambodia have seen some renewed interest and could become viable investment destinations."

There were a few hotel portfolio transactions in 1H 2014, especially in Japan. Anabuki Kosan acquired 9 three-star and budget Comfort Hotels for US$58.4 million from Taisei Yuraku Real Estate Company, while Hoshino REIT acquired 21 Chisun Inn hotels from Lone Star for US$136.9 million. India-based DLF Global Hospitality had sold its Amanresort chain of 27 luxury hotels to Adrian Zecha and Peak Hotels for US$358 million

Cushman & Wakefield studied the hotel investment transactions in the past 18 months, covering gateway cities in Asia Pacific. The most expensive hotel investment market in terms of value per key in US$ is Hong Kong. The Chinese territory saw the Mercer by Kosmopolitan transacted at US$1.36 million. Singapore is ranked second at US$1.24 million, having seen the sale of the 305-room Westin Marina Bay to Daisho Group at US$369 million last December.  Third on the list is Tokyo at US$846,000 arising from the Yaesu Fujiya Hotel which would be redeveloped into an office building.

Kulkarni added, "Hotel assets in Singapore and Hong Kong have high selling price per room due to the high earnings multiples and the potential for capital appreciation ahead. Buyer competition for prime institutional quality assets in these two cities remain intense, and there is a shortage of such assets for sale. For Singapore market, it would be ideal to hold if your assets are of prime quality as there is some room for additional asset appreciation. In Hong Kong, smaller sized assets are highly sought after, and can be repositioned with higher upside in rates and value."

To see the full version of this release, click here: http://photos.prnasia.com/prnk/20140821/8521404706-a

About Cushman & Wakefield
Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 250 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge. In Greater China, Cushman & Wakefield maintains seven market-leading offices in Beijing, Shanghai, Chengdu, Guangzhou, Shenzhen, Hong Kong and Taipei. More information is available at www.cushmanwakefield.com.

Read More »

New World Facilities Management First Honored as “Family-Friendly Employer”

HONG KONG, Aug. 7, 2014 /PRNewswire/ -- New World Facilities Management Company Limited (NWFM) which manages and operates Youth Square is commended for the first time as the "Family-Friendly Employer" under the 2013/14 Family-Friendly Employers Award Scheme organized by the Family Council, in recognition of its outstanding achievement in implementing family-friendly employment policies and practices that enable employees to manage their time to undertake their family commitments and balance family life in the past year. 

As a non-profit making company, NWFM regards staff as the most valuable asset. During the past year, NWFM proactively instituted diversified family-friendly policies and practices including paternity leave, compassionate leave and early release on festive days to enable staff to manage their time to take care of their family needs. NWFM also cares about the wellness of staff and offers a variety of activities for them including family engagement events, festive meals, community events and interest groups, etc. to achieve a balance between work and life.

Established in 2011, the Family-Friendly Employers Award Scheme is launched by The Family Council. It aims at recognizing companies or organizations who attach importance to the family-friendly spirit, encouraging them to continue to put in place measures to raise employers' awareness of the importance of family core values, and fostering a pro-family culture and environment. With reference to criteria including family-friendly employment policies and practices, benefits to the company and employees, as well as commitment shown by the management, the Assessment Panel honors those companies or organizations fulfilling the family-friendly requirements of the Award Scheme.

New World Facilities Management Company Limited

New World Facilities Management Company Limited is a non-profit making company and a wholly-owned subsidiary of New World Development Company Limited (Stock Code: 17.HK). Embracing the mission of youth development and supporting youth to contribute to society, we strive to develop Youth Square as the platform for youth to exchange knowledge and experience and to develop and discover their potential.

For more information on New World Facilities Management Company Limited, please visit www.nwfm.com.hk.

Youth Square

Youth Square is a project commissioned by the Home Affairs Bureau of HKSAR Government, and aims to be the hub of diversified youth development activities for youth to develop their potential. Youth Square has a 643-seat Y Theatre, Y Studio, multi-function areas and Y Loft with 148 guest rooms. Youth Square is located in Chai Wan and is managed and operated by New World Facilities Management Company Limited on a non-profit making basis.

For more information on Youth Square, please visit www.youthsquare.hk.

 

 

 

Read More »

Sluggish Demand Leads to Higher Vacancy and a Slight Drop in Both Office and Retail Rents

HONG KONG, July 22, 2014 /PRNewswire/ --

  • Office leasing activities remained sluggish in the first half of 2014, leading to a 1.8% drop in overall grade A office rent.
  • Landlords will continue to show flexibility in their efforts to attract and retain tenants. As a result, rents are likely to drop by an additional 1% to 2% in the second half of 2014. Greater Central rents will be stable.
  • The retail sector continued to face headwinds with retail sales growth slowing markedly. Moderating sales performance and more cautious sentiment impeded retailers' expansion in the first half of 2014.
  • Prime street shop rents eased by an average of 2.0% over the past six months; rents are likely to be stable or decrease slightly in 2H 2014. Local consumption is intact and the outlook remains generally positive.

Cushman & Wakefield, the world's largest privately owned real estate services firm, today released a mid-year update on the Hong Kong office and retail leasing markets and the outlook for the second half of 2014.

Office leasing demand stays soft causing overall grade A office rent to ease slightly

Office leasing demand remained sluggish in the first half of 2014, whereas Grade A office net absorption totaled a modest 123,000 sq ft and only crossed into positive territory due to take-up in Kowloon East, primarily within new stratified buildings completed since late 2013. By submarket, leasing activities continued to gain momentum in Greater Central, as evidenced by positive net absorption of 120,500 sq ft, but remained subdued in other locations. Greater Central continued to see leasing demand being supported by mainland Chinese financials and tenants with smaller-sized requirements. For example, China Securities International recently expanded by a floor of 13,000 sq ft in Two Exchange Square earlier this year, while China United Credit Finance took a whole floor of 22,000 sq ft in Two Pacific Place. Foreign financials situated in the district are still tending to downsize (RBS in AIA Central) or relocate for cost savings (Wells Fargo moving from AIA Central to Three Pacific Place), but there were several instances of space upgrades (Banco Santander and Wellington Global Investment. moving from One Exchange Square to Two IFC; UOB consolidating from Landmark and Cosco Tower to Citibank Plaza). Tenants on 3-year leases expiring this year are facing market rents which are, on average, 20% lower than those under their current lease.

Wan Chai/Causeway Bay, Hong Kong East and Tsim Sha Tsui all recorded slight negative absorption of between 50,000 to 60,000 sq ft over the past six months due to higher availability and tempered demand as more occupiers have shelved their expansions or seek to consolidate their office space. These trends are becoming more prevalent in fringe-core and non-core office districts, where office rents are still at or near peak-levels. After dipping slightly to 5.0% in 1Q 2014, office availability rate climbed back to 5.4% in 2Q 2014. Both Wan Chai/Causeway Bay and Tsim Sha Tsui's availability rates climbed to approximately 5.0% by mid-year, while availability in Hong Kong East, still the lowest at 3.2%, climbed to its highest level in two years due to some large tenants, such as Time Warner, Nokia, and Western Union releasing space into the market. In Tsim Sha Tsui, Deutsche Bank and Morgan Stanley in ICC consolidated operations which caused the district to experience the largest upswing in availability in recent months. Greater Central availability, which has stood at roughly 7.0% since 2Q 2012, remains the highest by district.

Overall grade A office rents dropped by 1.8% in the first half of 2014, led by a 5.5% drop in rents in Kowloon East. Kowloon East landlords are facing added pressure from new strata units put up for lease and also several new industrial revitalization projects to be completed this year whose low pre-commitment rates are indicative of slower overall demand. Rents inched upward by 0.7% in the first half in Wan Chai/Causeway Bay, but dropped mildly in other districts. Greater Central rents continued to hover around HK$96-97 per sq ft, on average. Gary Fok, Executive Director, Commercial - Hong Kong, said, "We anticipate that the Greater Central leasing market will continue to exhibit a stabilizing trend owing to a gradual improvement in demand. Availability will slightly ease and rents will remain stable over the next six months. Outside of Greater Central, demand has been sluggish with few tenants willing to expand or absorb relocation costs. Landlords will continue to show flexibility in their efforts to attract and retain tenants, most notably in Kowloon East where availability is higher. As a result, rents will drop by an additional 1% to 2%, but not more than this because availability is still at a healthy level, and there is a lack of new supply especially in core and fringe-core locations."  

Sales slowdown urging caution, leading to slower brand expansion and a drop in rents

The retail sector continued to face headwinds associated with slower tourism growth and changes in visitor profile and spending in the first half of 2014. These factors, as well as a high base for comparison last year, caused the slowdown of retail sales to deepen. Total retail sales decreased by 0.2% year-on-year from January to May. The slight drop was led by the downturn in sales of watches and jewelry, which dropped by 14.3% after robust sales in mid-2013. Apparel and department stores sales and restaurant receipts all grew stably owing to intact local consumption.

Moderating sales performance and more cautious sentiment impeded retailers' expansion in the first half of 2014. Luxury brands have stayed conservative, while watch and jewellery retailers notably cut back on new stores. Several leading local retailers announced lower sales during recent holidays and are also taking more cautious approaches. Despite the hurdles, Hong Kong has not lost a step as a leading retail destination in Asia, and, therefore, in its ability to attract new brands and support expansion of existing ones. As evidenced by recent activity, including Topshop's and Esprit's planned expansions and the entrance of J.Crew, renowned international brands are showing a long-term commitment to the market, which is also seeing a shift toward a more diverse offering of middle to high-end brands.

Vacancies in main streets have remained low, but have risen in 2nd and 3rd tier streets over the past six months. Prime street shop rents eased slightly in the first half of 2014, having dropped by an average of 2.0%. During the first half of 2014, average rental increment on renewals and new leases stood at approximately 40%, which is down from 60% to 70% growth during the same period last year. In the second half of 2014, we expect that prime shop rents will be relatively stable, potentially falling by 2% to 3%, while more secondary locations will see a slightly steeper adjustment of 5% to 8% due to higher vacancy and slower demand. Michele Woo, Executive Director, Retail - Hong Kong, said, "Luxury brands have turned more cautious as sales growth has slowed amid the shift toward more affordable luxury and mid-priced goods. Their slower expansion has opened some doors for more mid-tier brands, but they also operate under tighter margins, therefore, their real estate affordability is comparatively lower and this will have an impact on rents. Nonetheless, the outlook for the sector is still positive. The local consumer base remains strong and tourism is still growing at a high rate. Hong Kong will maintain its position as the premier shopping destination in Asia and this will continue to bring new brands to the city."

APPENDICES

I.     GRADE A OFFICE LEASING TRANSACTIONS

Date

Tenant

Building

District

Area (sq ft)

Reason for Lease

Existing Address

2Q

United Overseas Bank

Citibank Plaza

Greater Central

33,500 (L)

Relocation & Consolidation

COSCO Tower & Landmark

2Q

China UCF Group

Two Pacific Place

Greater Central

22,100 (L)

Relocation & Expansion

Hutchison House

2Q

Nissan

Hopewell Centre

Wan Chai/ Causeway Bay

46,000 (L)

Relocation & Expansion

Citibank Tower

2Q

Wells Fargo

Three Pacific Place

Wan Chai/ Causeway Bay

32,000 (L)

Relocation

AIA Central

2Q

Societe Generale

Three Pacific Place

Wan Chai/ Causeway Bay

16,300 (L)

Expansion

Three Pacific Place

2Q

FWD

Devon House

Hong Kong East

27,000 (L)

Expansion

Devon House

2Q

Compass Office

Silvercord Tower 2

Tsim Sha Tsui

11,500 (G)

Expansion

N/A

2Q

E. Sun Commercial Bank

The Gateway Tower 6

Tsim Sha Tsui

7,400 (G)

Expansion

The Gateway Tower 6

2Q

National Investment Fund

Octa Tower

Kowloon East

23,800 (G)

Expansion

Great Eagle Centre

2Q

Sainsbury's Asia

Millennium City 1

Kowloon East

21,400 (G)

Relocation

The Gateway Tower 1

1Q

Wellington Global Investment

Two IFC

Greater Central

23,000 (L)

Relocation

One Exchange Square

1Q

Banco Santander, S.A.

Two IFC

Greater Central

18,400 (L)

Relocation

One Exchange Square

1Q

HK Sanatorium & Hospital

One Pacific Place

Greater Central

39,000 (L)

New Set Up

N/A

1Q

Principle Insurance

Hopewell Centre

Wan Chai/ Causeway Bay

16,400 (L)

Expansion

Hopewell Centre

1Q

Facebook

One Island East

Hong Kong East

11,000 (L)

New Set Up

N/A

1Q

Medisun Co.

Octa Tower

Kowloon East

46,200 (G)

Expansion

Great Eagle Centre

1Q

Compass Office

Langham Place Office Tower

Kowloon West

17,400 (G)

Expansion

N/A

1Q

Sun Life Financial

Two Harbourfront

Kowloon Others

22,000 (G)

Expansion

Two Harbourfront

II.  MAJOR OFFICE SUPPLY

Completion

Project Name

District

Developer

NFA (sq ft)

Single Owner / Strata-Title

2014

33 Des Voeux Road Central

Greater Central

Bank of East Asia

53,500

Single Owner

Billion Plaza II

Kowloon West

Billion

166,200

Strata-Title

Pioneer Place (revitalized ind bldg)

Kowloon East

Pioneer Global

184,300

Single Owner

KOHO (revitalized ind bldg)

Kowloon East

Pamfleet

157,500

Single Owner

KC100 (revitalized ind bldg)

Kowloon West

Campell Group

157,500

Single Owner

Octagon

Kowloon West

K Wah

296,700

Single Owner




Sub-total:

1,015,700


2015

50 Wong Chuk Hang Road

Hong Kong South

SHK

68,000

Strata-Title

41 Heung Yip Road

Hong Kong South

Cheung Kong

186,800

Single Owner

2-12 Observatory Road

Tsim Sha Tsui

Lai Sun & Henderson

139,700

Single Owner

10 Shing Yip Street 

Kowloon East

Billion

198,300

Strata-Title

15-17 Chong Yip Street

Kowloon East

Billion

201,500

Strata-Title

52-56 Tsun Yip Street 

Kowloon East

Billion

297,700

Strata-Title

Manulife Tower (One Bay East - West Tower)

Kowloon East

Wheelock

409,600

Self-Use

Citibank Tower (One Bay East - East Tower)

Kowloon East

Wheelock

409,600

Self-Use

33 Tseuk Luk Street

Kowloon East

SHK

196,000

Strata-Title




Sub-total:

2,107,200


2016

Joyce Centre

Hong Kong South

Kwong Hing Investment

130,800

Single Owner

34 Wong Chuk Hang Road

Hong Kong South

K Wah

132,800

Single Owner

22 Des Voeux Road

Greater Central

Chinachem

65,400

Single Owner

10-12 Queen's Road Central

Greater Central

SH Comm. Bank

106,200

Single Owner

Wing On Central Building

Greater Central

Chinachem

72,100

Single Owner

8 Cannon Street

Wan Chai/Causeway Bay

Phoenix

142,600

Single Owner

14-30 King Wah Road

Hong Kong East

Henderson

230,800

Single Owner

Goldin Financial Global Centre

Kowloon East

Goldin

681,900

Single Owner

2 Ng Fong Street

Kowloon East

Billion

251,200

Strata-Title

Hung Luen Rd. & Kin Wan St. (Two Towers)    

Kowloon Others

Wheelock

477,600

Strata-Title

On Kwan Street & On Muk Street 

Kowloon Others

Billion

281,600

Strata-Title




Sub-total:

2,573,000


2017

4 Yip Fat Street & 8 Heung Yip Road

Hong Kong South

SHK

117,600

Strata-Title

Asian House Redevelopment

Wan Chai/Causeway Bay

Chinachem

236,000

Single Owner

Somerset House Redevelopment

Hong Kong East

Swire

928,200

Single Owner

New World Centre Redevelopment

Tsim Sha Tsui

New World

637,100

Single Owner

Sheung Yuet Road & Wang Tai Road

Kowloon East

Pacific Investment

233,100

Single Owner

Wang Chiu Road & Lam Lee Street

Kowloon East

Swire

499,300

Single Owner

180 Wai Yip Street

Kowloon East

SHK & Wong's

383,400

Strata-Title

On Yiu & On Kwan Street 

Kowloon Others

Billion

344,300

Strata-Title




Sub-total:

3,379,000


2018

Sunning Plaza Redevelopment

Wan Chai/Causeway Bay

Hysan

317,200

Single Owner

15 Middle Road Carpark Redevelopment

Tsim Sha Tsui

TBC

254,800

Single Owner

Wharf T&T Square Redevelopment

Kowloon East

Wheelock

447,000

Strata-Title

Hang Yip St. ,Yan Yip St. & Kwun Tong Rd.

Kowloon East

Mapletree

528,200

Single Owner

CSW Post Office Redevelopment

Kowloon West

First Group

135,500

Single Owner




Sub-total:

1,682,700





Grand Total:

10,757,600








*Note: The expected timeline is subject to changes

III.   MAIN STREETS RETAIL LEASING TRANSACTIONS

Date

Tenant

Location

District

Area (sq ft)

Retailer Type

2Q

Currency Exchange

Cannon Street

Causeway Bay

50

Currency Exchange

2Q

Prince Jewellery & Watch

Kai Chiu Road

Causeway Bay

400

Watch & Jewellery

2Q

Esprit

Leighton Road

Causeway Bay

7,000

Fashion

2Q

Pandora

Queen's Road Central

Central

2,400

Accessories

2Q

Esprit

Queen's Road Central

Central

17,900

Fashion

2Q

Chow Tai Fook

Haiphong Road

Tsim Sha Tsui

1,600

Watch & Jewellery

2Q

Sulwahsoo

Canton Road

Tsim Sha Tsui

700

Cosmetics

2Q

Chain Pharmacy

Park Lane

Tsim Sha Tsui

700

FMCG

2Q

Swatch

Sai Yeung Choi Street South

Mongkok

300

Watch

2Q

City Chain

Sai Yeung Choi Street South

Mongkok

1,400

Watch

1Q

Standard Chartered Bank

Russell Street

Causeway Bay

5,700

Banking

1Q

Tsui Wah

Lockhart Road

Causeway Bay

8,000

Catering

1Q

Samsung

Des Voeux Road Central

Central

6,000

Electronics

1Q

Marks & Spencer Food

Hollywood Road

Central

4,600

Grocery

1Q

Luk Fook

Canton Road

Tsim Sha Tsui

1,900

Watch & Jewellery

1Q

ISA

Carnarvon Road

Tsim Sha Tsui

10,800

Fashion

1Q

Innisfree

Granville Road

Tsim Sha Tsui

1,000

Cosmetics

1Q

Chow Tai Fook

Sai Yeung Choi Street South

Mongkok

4,800

Watch & Jewellery

1Q

Chain Pharmacy

Soy Street

Mongkok

900

FMCG

Read More »