Brookfield Buys Hong Kong Storage Space From Hanison for $27M After Acquiring RedBox
Brookfield
has agreed to acquire industrial assets in Hong Kong’s New Territories
from Hanison Construction for HK$211.3 million ($26.9 million),
following closely behind the Canadian asset management giant’s
under-the-radar purchase of local self-storage operator RedBox.
The
assets comprise workshops 1 to 23 on the fourth floor of Block A at
Shatin Industrial Centre and car parking spaces V49 and V55 on the
second floor of the building, Hanison said Tuesday in a filing with the
Hong Kong stock exchange.
Market
sources tell Mingtiandi that Brookfield plans to convert the Shatin
industrial units into a self-storage facility under the RedBox
portfolio, tapping a hot sector that has also seen a series of
conversion-led acquisitions by rival investor Blackstone. RedBox
executives declined to comment.
Toronto-based
Brookfield quietly bought RedBox Storage from InfraRed NF in a deal
that closed in March, sources said. InfraRed NF is a joint venture of
Hong Kong developer Nan Fung Group and British investment firm InfraRed
Capital Partners, which is exiting the real estate business to focus
strictly on infrastructure. Brookfield representatives also declined to
comment on the Shatin acquisition or on the takeover of RedBox.
Struggling for Sheds
Situated
at 5-7 Yuen Shun Circuit near the City One residential precinct, the
partly leased Shatin property generated an annual rental income of
HK$3,180,000 and HK$3,485,000 in the financial years ended 31 March 2021
and 31 March 2022, Hanison said. The developer, controlled by the Cha
family of Hong Kong Resorts International, expects to book a gain on the
disposal of HK$66.2 million.
Upon
completion of the transaction, Brookfield will take possession of the
34,525 square foot (3,207 square metre) industrial space, paying roughly
HK$6,120 ($780) per square foot for the conversion opportunity.
The
limited supply of industrial stock for sale in the market means that
investors buying into strata-titled floors can still enjoy a decent
return from the assets, a property agent said.
“The
mini-storage business seems to be quite active in the last year, and in
particular Blackstone and Storefriendly have been buying en-bloc
properties to convert into mini-storage,” the agent told Mingtiandi.
“This sector will continue to grow despite the fact that there are quite
a number of players and operators in the market which offer the similar
service and product, hence the growth should be slower depending on the
locations.”
Blackstone’s
trio of acquisitions in 2021 included the Elegance Printing Centre, a
Shau Kei Wan property picked up from the family of late “Shop King” Tang
Shing-bor for HK$500 million. That November deal followed the US
private equity giant’s HK$282.6 million September purchase of Yip’s
Chemical Building in the Fanling area and the HK$508 million April buy
of the New Media Tower in Kwun Tong, the latter property having already
opened as a Storefriendly location through a joint venture with the
local self-storage operator.
Self-Storage Heats Up
InfraRed
NF acquired a 90 percent stake in RedBox in 2018, on the heels of a
2017 investment of $28 million in China Mini Storage, a mainland-based
self-storage provider.
RedBox
was founded in 2014 by E3 Capital Partners, a property investment firm
led by Simon Tyrrell, and now owns and operates five self-storage
facilities in Shatin, Chai Wan, Yau Tong, Tuen Mun and Tsuen Wan,
spanning more than 400,000 square feet of space.
Tyrrell
stepped down as RedBox CEO in early 2021 to become a board member and
executive chairman, focusing on the company’s strategic initiatives. His
successor, Tim Alpe, previously served as chief operating officer of
the Ovolo boutique hotel group in Hong Kong and Indonesia.
The
New Territories contains the lion’s share of Hong Kong’s 690
self-storage locations with 39 percent, according to data compiled by
another property agency, followed by Hong Kong Island with 32 percent
and Kowloon with 29 percent. Of the total, 249 buildings are considered
old, with 88 percent of them having been built in 1987 or earlier,
presenting a potential flight-to-quality opportunity, the property
agency said.
(Mingtiandi)
東莞銀行傳80萬租中環3層巨舖
疫情持續令本港商舖空置率上升，租金大跌，傳統商業區中環亦有不少巨型舖位待租。市場消息指出，鄰近中環中心的中銀集團人壽保險大廈3層複式、總面積近1.4萬方呎的巨舖，獲一家中資銀行以每月80萬元承租，租金較高位下跌約29%。據知情人士透露，新租戶極有機會為去年才進軍本港市場的東莞銀行，擬開設首間零售銀行分行。
據了解，位於德輔道中134至136號中銀集團人壽保險大廈地庫、地下及1樓3層舖位，地庫建築面積約4639方呎，地下建築面積約4586方呎，1樓建築面積約4622方呎，總建築面積約13847方呎，原以每月120萬元放租約一年，至近期獲洽租，終以約80萬元租出，呎租約58元，成交租金較叫租低33.3%。
較舊約平三成 每呎58元
資料顯示，中銀集團人壽保險大廈全幢原由中銀保險持有，於2008年以8億元售予賭王四太梁安琪旗下尚嘉控股，該3層舖位一直租予中銀香港 (02388) 作為分行。舖位對上一份租約為2018至2021年，月租為112.5萬元，租約去年4月屆滿。
中銀香港去年未有續租，舖位過去一年曾短租予散貨場數月，相隔逾一年後才再以長租形式租出，最新租金較舊約下跌28.9%，每月少收32.5萬元。該舖2012年月租曾達96萬元，即最新租金較10年前還要低16萬元或16.7%。
知情人士表示，上述舖位的新租戶為銀行，以東莞銀行的呼聲最高。東莞銀行為大灣區內的城商行之一，去年3月獲金管局授予銀行牌照，並租用中環國際金融中心二期寫字樓單位設立香港分行，是該行目前唯一境外分行。東莞銀行近期再向金管局申請在港設子行的牌照 (本港註冊持牌銀行)，新公司命名「莞銀國際」，將染指本地零售銀行市場，估計新承租的舖位將用作首間零售銀行分行。
上址對面的德輔道中141號中保集團大廈地下B舖，建築面積約3805方呎，原由花旗銀行承租多年，惟本月租約期滿並已遷出，舖位現以每月60萬元放租，呎租約158元。花旗銀行的舊租金為66.4萬元，即最新叫租相對回落9.6%。
(信報)
更多中銀集團人壽保險大廈寫字樓出租樓盤資訊請參閱：中銀集團人壽保險大廈寫字樓出租
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美資基金4.5億入市 購粉嶺全幢工廈
基金再度吸納本港工廈，粉嶺業暢街全幢工廈，獲美資基金以4.5億元承接，呎價約4,435元，基金購入將作凍倉用途收租。
呎價約4435 將作凍倉
本年初，粉嶺業暢街6號新中國洗衣集團大廈全幢獲財團洽購，涉資約4.5億元。據了解，該項目近日正式易手。物業地盤面積約22,163平方呎，總面積約101,463平方呎，以4.5億元成交價計，呎價約4,435元，物業附設1部貨運升降機及2部客運升降機，另設11貨車位私家車位。項目於1990年落成，近年由業主自用。
原業主於1999年以3,868.8萬元購入，持貨23年轉手，獲利約4.11億元，物業升值約10.6倍。事實上，去年至今粉嶺已錄多宗全幢工廈成交。
據悉，買家為外資基金Heitman，該財團屬美資房地產基金，於澳洲、韓國等均設有辦事處。該基金去年成功集資，將投資逾百億元物業，而是次屬首度於香港入市。消息指，是次購入該工廈項目將轉作凍倉用途，作長綫收租。
投資市場稍轉好，而工廈成交明顯反彈，並多由外資基金承接，如日前興勝創建 (00896) 以逾2.11億元沽出沙田工業中心一籃子物業，新買家為加拿大基金Brookfield，將發展迷你倉。
(經濟日報)
