The auction house’s lease for the two-storey space in Chater House starts in the fourth quarter of 2023, with the gallery due to open the following year

The space will be used to host auctions and exhibitions and will also include a coffee bar similar to the one at its New York headquarters

Sotheby’s, one of the world’s largest international auction houses, is expanding its footprint in Hong Kong.

The New York-headquartered firm is leasing some 24,000 square feet of space in the retail podium of a prime office building in Central, which it plans to use for hosting auctions, exhibitions and a new concept cafe.

The expansion shows the auction house’s strategy to “bolster future growth in the region” as it plans to “anchor its position at the forefront of Hong Kong’s art and cultural landscape”, said Nathan Drahi, managing director for Asia at Sotheby’s.

The establishment of world-class museums such as the Hong Kong Palace Museum and M+, as well as the return of global art fairs, mark a new chapter in the city’s art scene, he added.

Sotheby’s “long-term” lease in Chater House will begin in the fourth quarter of 2023 as the two-storey space is currently occupied by fashion label Giorgio Armani, according to landlord Hongkong Land. Sotheby’s gallery is due to open in 2024.

“Our vision is to open a maison in the very heart of the city, at street level with multiple access points so that it enables greater access to the public all year round,” Drahi said, adding that Chater House’s location fits the requirement.

Sotheby’s Hong Kong gallery is currently located on the 5th floor of Swire Properties’ One Pacific Place in Admiralty. The 15,000 sq ft space is used for exhibitions, auctions, international lectures and cultural events.

Sotheby’s will be the first auction house in Hong Kong to move from an office level space into a retail podium. The space will be used to hold auctions and private sales and will also build on Sotheby’s concept cafe. The auction house recently opened a coffee bar at its New York headquarters with Italian restaurant group Sant Ambroeus, and also has a restaurant in London.

The new location at Chater House will also include Sotheby’s Buy Now – a platform for instant purchases, and there will be a permanent museum of collectibles, which will be accessible to the public, like its galleries in New York and London.

Hongkong Land and Sotheby’s did not disclose details such as rent.

“We have been promoting art and culture throughout our portfolio for several decades and this strategic move by Sotheby’s underscores our Central portfolio’s reputation as the premier lifestyle and luxury destination right in the heart of Central,” said Robert Wong, CEO of Hongkong Land.

The announcement comes as the Hong Kong government lifted all travel restrictions for arrivals who test negative from Wednesday, removing a key source of frustration for travellers who are subjected to curbs during their first three days of stay. The government also scrapped its amber health code, allowing visitors to enter restaurants and other premises previously off limits.

Looking ahead, Hongkong Land said that its strong office and retail portfolio will prove “attractive to international businesses looking to base themselves in the city”.

“Retail and commercial tenants are looking for more than just a landlord these days,” said Neil Anderson, director and head of office, commercial property at Hongkong Land. “We believe our diverse range of amenities and value-added services are increasingly important for tenants as they look to retain and attract the best talent and customers.”

The gradual dissipation of the pandemic in the second half of this year has given tenants the confidence to look for space in various districts, with strong demand particularly from food and drinks operators, according to a property agency.

“The retail market will undergo a more visible recovery when inbound visits for leisure purposes return and the China-Hong Kong border reopens,” an agent said.

The agent expects rents of prime shopping centres to climb up to 5 per cent.

(South China Morning Post)

For more information of Office for Lease at Pacific Place please visit: Office for Lease at Pacific Place

For more information of Grade A Office for Lease in Admiralty please visit: Grade A Office for Lease in Admiralty

For more information of Office for Lease at Chater House please visit: Office for Lease at Chater House

For more information of Grade A Office for Lease in Central please visit: Grade A Office for Lease in Central

Goldin tower 'goes for $6b'

Goldin Financial's (0530) office tower in Kowloon Bay is being purchased by a fund for HK$6 billion and negotiators are set to wrap up the deal, according to reports.

The 28-storey Goldin Financial Global Centre will be sold at HK$6,500 per sq ft, a slump of 60 percent from the transaction price two years ago, local reports said.

A fund led by PAG and Temasek's Mapletree Investments is among the buyers.

PAG bought a 19-storey office tower in Ngau Tau Kok in 2019 for nearly HK$9 billion from Mapletree and in 2021 leased four floors of it to Manulife Hong Kong.

Mapletree had won the bid for an industrial site in Fan Ling in 2021 for over HK$813 million, beating local major developers including K Wah International (0173), Sino Land (0083) and CK Asset (1113).

Goldin's headquarters should have been sold to HG Property Investment HK for HK$6.7 billion in September, but the buyer was told in November that the transaction was terminated and its deposit of HK$250 million had been forfeited. It then filed a petition with the High Court, asking the court to order the seller to enforce the sale agreement.

The building of tycoon Pan Sutong's firm was seized by creditors in September 2020, as the developer struggled to make payments on its outstanding debt. It was bought by businessman Fong Tim for HK$14.3 billion the same month, but the deal failed to materialize.

Goldin bought the site for about HK$3.43 billion in 2011 and completed the headquarters in 2016.

Besides the office tower, the residential project Grand Homm in Ho Man Tin, partly owned by Sutong, Goldin's former chairman, terminated sales of 32 flats in November 15 after it was seized by PwC.

Moreover, the powers of the directors and officers of Goldin Financial have ceased and were transferred to the joint provisional liquidators last month, according to a filing.

(The Standard)

For more information of Office for Lease at Goldin Financial Global Centre please visit: Office for Lease at Goldin Financial Global Centre

For more information of Grade A Office for Lease in Kowloon Bay please visit:  Grade A Office for Lease in Kowloon Bay

蘇富比預租遮打大廈商場近2.4萬呎 開設旗艦藝廊 明年第4季租約生效

中環遮打大廈零售樓面於疫市下錄大手租賃，國際著名拍賣行蘇富比，承租該廈近2.4萬方呎樓面，屬近年來罕見大手租賃，開設旗艦藝廊，擴充香港業務，租賃將於明年第4季生效，業界指市值呎租介乎100至200元。

置地公司宣布，蘇富比 (Sothebys) 於置地遮打 (LANDMARK CHATER) 開設旗艦藝廊，面積近2.4萬方呎，此次合作屬於長期租約，明年第4季生效，將於2024年開幕，蘇富比在此經營業務，包括拍賣、私人洽購、Buy Now (即時收藏平台) 及餐飲等，是全港首家於零售商場設展覽場地的拍賣行，新址媲美該行在紐約及倫敦的展覽空間，同時，使用置地旗下租戶專屬空間Concentric舉辦現場拍賣。

置地黃友忠：零售生活新體驗

置地公司行政總裁黃友忠表示，集團與蘇富比共同在中環核心區，打造向公眾開放的拍賣及展覽空間，帶來新零售及生活體驗。

蘇富比亞洲區董事總經理洛嘉熙 (Nathan Drahi) 表示，全新空間展示包羅萬象生活方式，呼應蘇富比近300年的悠久文化和傳統：「打造一個觸手可及、引人入勝並一應俱全的地標，為廣大藏家獻上世上最非凡的珍寶及體驗。」

蘇富比洛嘉熙：呼應公司文化

置地遮打作為置地廣場 (LANDMARK) 4幢地標建築之一，行人天橋連接其他大廈，置地廣場共擁有14顆米芝蓮星餐廳 (其中1顆為米芝蓮綠星)。銀行、資產管理和金融服務在置地旗下中環物業佔逾40%。

市值呎租逾100元

有代理表示，置地遮打零售樓面檔次高，最適合富豪客戶雲集的拍賣行，料該零售樓面包括小部分地鋪，甚至不包括地鋪，市值呎租100至200元，月租逾240萬。該宗是過去3年來，面積最大的零售樓面租賃，較迪生創建去年5月以每月300萬承租旺角銀行中心廣場 (橫跨西洋菜南街及彌敦道) 一籃子零售樓面 (約1.7萬方呎) 還要大，對鋪市帶來正面影響。

該代理又說，過去大樓面租賃包括Harvey Nichols於2005年承租置地旗下的置地廣場-公爵大廈，涉6萬方呎；Forever 21於2011年承租銅鑼灣京華中心多層巨鋪（月租1380萬），涉及樓面約5.1萬方呎。

(星島日報)

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