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New World Development sold three floors of Cheung Sha Wan building at near HK$1.2b

New World Development recorded yet another big-ticket transaction at its Grade A commercial building at 888 Lai Chi Kok Road in Cheung Sha Wan.

A financial institution, showing signs of robust interest, recently paid close to HK$1.2 billion for three floors of space for self-use, with an average price of about HK$17,500 per sq ft, setting a new record for per-square-foot price for the development.

A total of 70 percent of GFA sold at over HK$5.4 billion, paving way for West Kowloon's new core business district.

The newly sold floor space is on the higher-level floors, covering three full floors, each with an area ranging from 20,800 to 24,600 sq ft and a total floor area of nearly 68,000 sq ft.

888 Lai Chi Kok Road in Cheung Sha Wan is a 28-storey Grade A commercial building. It went on sale at the end of last year. The first batch of 30 units were all sold out within an hour.

So far, nearly 70 percent of the gross floor area of project has been sold, bringing in more than HK$5.4 billion, and establishing it as a highly sought-after development. Buyers include financial institutions, universities, medical practices and other professional services, as well as professional investors such as family offices.

The Cheung Sha Wan district has witnessed remarkable changes in recent years. Boasting complete transportation infrastructure and ancillary facilities, its convenient location and access include a half-hour drive to Hong Kong International Airport and the Shenzhen Bay Highway Bridge, promising great potential for transforming the area into a new core business district in West Kowloon.

As early as 2017, New World successively acquired three lots of commercial land in the district, with a total buildable floor area of approximately 1.9 million sq ft. The Grade A commercial building at 888 Lai Chi Kok Road has flexible spacing options and a standard full-floor building area of about 24,000 sq ft. It is expected to be completed in April 2022.

(The Standard)

For more information of Office for Sale at 888 Lai Chi Kok Road please visit: Office for Sale at 888 Lai Chi Kok Road

For more information of Grade A Office for Sale in Cheung Sha Wan please visit: Grade A Office for Sale in Cheung Sha Wan

 

New World submits proposal to demolish and rebuild part of The Pavilia Farm project hit by construction defects

Company is awaiting approval from the Buildings Department to demolish and rebuild towers one and eight of the third phase of the project in Tai Wai, says Adrian Cheng

New World posts a nearly 6 per cent increase in full-year underlying profit to HK$6.98 billion

New World Development has submitted a proposal to demolish and rebuild part of The Pavilia Farm project that has been marred by construction defects, a top executive said on Thursday after the developer posted a full-year underlying profit increase of nearly 6 per cent.

The Hong Kong-listed developer also said that it was striving to help the government solve the city’s housing shortage problems.

The company has submitted a proposal to the Buildings Department to demolish and rebuild towers one and eight of the third phase of the development of its bestselling project in Tai Wai, said Adrian Cheng Chi-kong, executive vice-chairman and chief executive.

“After approval of the formal time to start work, an independent third-party team will monitor the process of demolition and rebuild,” Cheng said.

In early July, New World sent shock waves through the industry after it said it would tear down and rebuild two of the seven tower blocks under construction at the project above Tai Wai MTR station in the New Territories. The company said that this would set back the delivery schedule of phase three by nine months to March 2024. It also came up with compensation options and subsidies for affected buyers.

As of June 30, a total of 3,028 units in the project were sold, realising nearly HK$37.4 billion (US$4.8 billion) in sales proceeds, according to a filing to the Hong Kong stock exchange.

So far, 48 buyers have cancelled deals, or about 5 per cent in phase 3 of the project, with the compensation totalling around HK$829 million, according to the Post’s calculations, based on data from the Register of Transactions.

Cheng disclosed that New World had submitted a plan for the Land ­Sharing Pilot Scheme to the government for preliminary review. The land sharing scheme will be used to enhance the development potential of private land currently constrained by inadequate ­infrastructure.

New World, which has donated four land parcels to four NGOs for building some 2,000 units of transitional housing, is discussing plans to donate two to three more parcels of land for the project, Cheng said.

Cheng also said that New World had not received any instruction from Beijing on alleviating the city’s housing problem. Earlier this month Reuters reported that Chinese officials had told Hong Kong’s powerful tycoons that they should help solve the city’s housing shortage.

New World’s contracted sales in Hong Kong amounted to about HK$42.4 billion, more than double its target of HK$20 billion for the financial year ended June.

New World’s full-year underlying profit, which excludes changes in the valuation of properties, rose 5.9 per cent from a year ago to HK$6.98 billion. Net profit rose 6.9 per cent to HK$1.17 billion.

New World proposed a final dividend of HK$1.5 per share, 1.4 per cent higher compared with last year.

Separately, New World said that it sold three floors of a grade A commercial building under construction at 888 Lai Chi Kok Road in Cheung Sha Wan to a financial institution for nearly HK$1.2 billion. The building is expected to be ready in April next year.

(South China Morning Post)

For more information of Office for Sale at 888 Lai Chi Kok Road please visit: Office for Sale at 888 Lai Chi Kok Road

For more information of Grade A Office for Sale in Cheung Sha Wan please visit: Grade A Office for Sale in Cheung Sha Wan

 

核心區甲廈頻錄市價承租

隨着本港經濟表現逐步回穩,帶動甲廈租賃交投向好,核心區甲廈頻錄市價承租,其中,金鐘海富中心以每方呎約40元租出,此外,尖沙嘴星光行亦以每方呎30元承租,均屬市價水平。

海富中心每呎約40元租

市場消息指出,金鐘海富中心二座低層08室,面積1328方呎,呎租約40.5元,月租約53784元,屬貼市價水平。據土地註冊處資料顯示,原業主於1993年以約2643萬購入,註冊董事為陳姓人士。

據代理行資料顯示,該甲廈近期承租為1期中層03A室,面積2210方呎,於上月以每方呎39元租出,月租約86910元。

尖沙嘴區內指標甲廈星光行亦錄承租個案,市場消息指出,該甲廈高層單位,面積約824方呎,以每方呎約30元租出,月租約2.5萬。

另一方面,商廈市場亦頻錄買賣個案,市場消息指出,銅鑼灣拔萃商業大廈中層C室,面積380方呎,以約468萬成交,呎價約12316元;此外,灣仔金豐商業大廈中層,面積約1330方呎,以約1049.3萬售出,呎價約7890元。

(星島日報)

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長沙灣甲廈三層12億成交 新世界沽售 呎價1.75萬創新高

疫情持續平穩,帶動甲廈交投轉活,市場再錄大手成交。由新世界發展長沙灣荔枝角道888號高層三層樓面以約12億易手,每呎造價約1.75萬,創該項目新高;消息指,買家為大型中資銀行,料購入作自用用途。

甲級商廈再錄大手成交,由新世界發展的荔枝角道888號高層三全層單位,每層樓面介乎2.08萬方呎至2.46萬方呎,合共總樓面約6.8萬方呎,作價約12億售出,平均呎價約1.75萬,創該項目呎價新高。

涉總樓面約6.8萬呎

據市場知情人士透露,上述樓面為該廈29至31樓,為最高三層樓面,屬優質單位,故以破頂價售出,買家為大型中資銀行。

大型中資銀行購入

據發展商指出,荔枝角道888號為1幢樓高28層甲級商廈,自去年底開售,首輪30個單位1小時內全數售罄。

項目至今已累售近七成樓面,套現逾54億;至於客源包括金融機構、高等院校、醫生或其他專業服務,亦有專業投資者。

項目每層約2.4萬呎

新世界早於2017年先後在區內投得3幅商業用地,總可建樓面面積約190萬平方呎。荔枝角道888號甲級商廈,間隔靈活,標準樓層全層建築面積約2.4萬方呎,預計2022年4月落成。

累售近七成樓面

另外,該項目早前成交,買家身分亦逐步曝光。

據土地註冊處資料顯示,18樓全層於上月初以逾3.3億售出,買家以公司名義Modern Elite (Hong Kong) Limited,註冊董事為朱達慈、馮子堯及莫國豪,為協興建築高層人士。

據資料顯示,新創建早前公布,以13.67億向母公司新世界購入荔枝角道888號樓花商廈、位於項目的18至21樓,總樓面96744方呎,呎價約1.41萬。

套現逾54

新創建當時表示,收購可以為集團提供一個較具吸引力資本增值的物業投資機會,而且租務優惠要約將於未來提供穩定的租金收入。

事實上,長沙灣區內近年商廈發展迅速,早前市場亦頻錄商廈重建申請,資料顯示,長沙灣利豐大廈申請重建為1幢樓高27層的商廈,涉及總樓面約28.77萬方呎。

至於,毗鄰的香港紗廠工業大廈一期及二期,連同萬利中心,則重建為兩幢商廈,涉及總樓面逾107萬方呎。

(星島日報)

更多荔枝角道888號寫字樓出售樓盤資訊請參閱:荔枝角道888號寫字樓出售

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外資基金斥逾11億購屯門工廈九成業權

受活化政策帶動,令工廈項目備受追捧,市場再錄大手成交。新加坡基金SilkRoad Property Partners以約11.6億購入屯門恒威工業中心約九成業權,包括地廠、多層全層樓面及一籃子車位。

涉逾180個車位

據土地註冊處顯示,屯門恒威工業中心C座大部分業權,包括地廠及多層全層樓面,在本月初以逾9.46億成交,買家以公司名義Belfast Investments Limited登記,註冊董事為JOHN NICHOLAS KEARNS及FOO CHOY MARK KHOO等,為新加坡基金SilkRoad Property Partners相關人士。

樓面約31萬呎

此外,該基金亦購入該工廈車位。據土地註冊處資料顯示,恒威工業中心一籃子車位於本月初以逾2.14億成交,買家以公司名義Belfast Investments Limited登記。據從事工廈買賣的代理指出,上述一籃子車位涉約187個,以易手價計,每個車位售價約114萬。

據代理指出,上述易手物業佔該廈約九成業權,涉及樓面約31.7萬方呎。

事實上,該外資基金早前於本港頻頻入市,資料顯示,粉嶺安全街10號至12號堅達中心,全幢樓高6層,總樓面97750方呎,於今年初以3.21億連租約售出,呎價約3284元,購入作經營物流業務。

(星島日報)

 

教協連沽旺角物業 全由百本醫護接貨涉2.3億

教協本月11日正式通過解散後,先後沽出旺角好望角大廈及中僑商業大廈,共3層物業,據土地註冊處顯示,中僑商業大廈的買家為合富國際有限公司,公司董事為雷燕萍 (LUI, YIN PING),為百本醫護 (2293) 高層。

資料顯示,百本醫議在本月初公布,以1.75億元向教協購入旺角好望角大廈8樓及9樓兩層樓面,作為主要業務辦公室、設立醫護人員考核中心等,連同中僑商業大廈,即先後斥資2.3億元購入旺角商廈共3層。

(明報)