HK - Commercial Properties & REITs

Re: HK - Commercial Properties & REITs

Postby winston » Thu Sep 15, 2016 8:51 pm

Two thirds of Grade-A offices sold in Hong Kong over past six months snapped up by mainland buyers

Knight Frank says mainland firms paid US$2.9 billion on sites between January and June, 64 per cent of the total office sales transactions value in the city

Over the past decade mainland firms have acquired around US$6.4 billion worth of office properties in Hong Kong

The property consultants now predict the buying spree by mainland firms will accelerate in view of the closer integration between Hong Kong and China, expectations of further renminbi depreciation against the US dollar, and the broadening of cross-border investment channels.


Source: SCMP

http://www.scmp.com/property/hong-kong- ... r-past-six
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Re: HK - Commercial Properties & REITs

Postby winston » Fri Sep 23, 2016 1:41 pm

<Research Report>Daiwa: Landlords Top Picks SWIREPROPERTIES, HYSAN DEV

Daiwa, in its report, said it did not believe that the office sector is at its cyclical peak and would correct soon.

On the contrary, the broker said the sector has entered a new stage.

The office landlords stocks have so far lagged the overall sector; but Daiwa believed that this would change soon, and reiterated the Positive rating.

Top picks are SWIREPROPERTIES (01972.HK), HYSAN DEV (00014.HK) (target prices: $32.3, $46.6, both at Buy) and Hongkong Land.

The broker said the potential sale of the Murray Road site in Central can be a catalyst, and the broker will focus on how CK PROPERTY (01113.HK) is interested to the site, as well as the sale price.

Source: AAStocks Financial News
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Re: HK - Commercial Properties & REITs

Postby winston » Fri Sep 23, 2016 1:52 pm

Sep 14, 2016

<Research Report>Deutsche Expects Challenges in HK Grade A Office Mkt; More Bullish on Property Developers

Deutsche Bank, in its report, said there will be more challenges ahead for the Grade-A office market, as the new supply is expected to exceed average annual take-up throughout 2017-19.

The vacancy rate is expected to rise to over 5% by 2017 and further to over 8% by 2020 (double the current level).

We expect Central Grade-A office rents to soften by 5% in 2H16 (implying 0% for FY16) and decline further by 10% per annum in 2017 to 2019 (30% decline for the full-cycle).

The broker believed investors should get away from landlords with more office, such as HYSAN DEV (00014.HK), LINK REIT (00823.HK) and Hongkong Land, and preferred more on developers, especially those with steady dividend payout or scope for dividend to increase, such as CK PROPERTY (01113.HK), HANG LUNG PPT (00101.HK) and NEW WORLD DEV (00017.HK).

Source: AAStocks Financial News
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Re: HK - Commercial Properties & REITs

Postby winston » Tue Sep 27, 2016 7:58 pm

Hong Kong office property landlords race to sell as mainland buyers push up prices

The yuan’s slide is fuelling Chinese investors’ appetite for commercial space in Hong Kong

Source: SCMP

http://www.scmp.com/property/hong-kong- ... l-mainland
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Re: HK - Commercial Properties & REITs

Postby behappyalways » Wed Nov 02, 2016 3:03 pm

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Re: HK - Commercial Properties & REITs

Postby winston » Thu Nov 17, 2016 6:59 am

Burberry to pay $4.5m rent after discount

by Dominique Nguy

UK luxury brand Burberry has reportedly extended its rental contract on a three-storey store in Tsim Sha Tsui"s Silvercord mall, clinching a 30 percent cut in monthly rent to HK$4.5 million.

The store occupies a total floor area of about 10,140 square feet and the rent before the extension was HK$6.5 million.

The rent per square feet was HK$444 and the rental period has been extended until February 28, 2017.

Source: The Standard

http://www.thestandard.com.hk/section-n ... ?id=176432
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Re: HK - Commercial Properties & REITs

Postby winston » Wed Nov 30, 2016 7:00 am

Multinationals exit Central to slash rents

by Dominique Nguy

More large multinational companies are opting for less costly office space in Hong Kong, a report by global real estate service firm CBRE said yesterday.

"More multinational companies are moving offices out of Central to emerging office hubs such as Kowloon East with the intention to save cost," said Marcos Chan Kam-ping, head of research at CBRE for Hong Kong, Southern China and Taiwan.

The report found that moving offices from Central to Kowloon East would register a rental discount of HK$88.2 per square feet per month, while moving from Central to Wong Chuk Hang would register a rental discount of HK$92.5.

Chan expects this trend of decentralization to continue in the future. The report showed total occupied grade A office space went up about 4 million square feet, from 67.6 million sq ft to 71.6 million sq ft during March 2013 to March 2016.

Compared to the 4.1 million sq ft growth in total occupied space during the period, about 1.2 million sq ft net gain in occupancy were made by mainland companies. The same period saw occupancy by US and European firms contract by 199,000 sq ft.

As of the end of March 2016, about 10 percent of Hong Kong"s occupied grade A office was taken up by mainland companies, which comprises of about 7.2 million sq ft," said Chan. She said mainland banking and finance firms accounted for the majority of the increase.

Supported by the extension of bilateral financial sector policies between Hong Kong and mainland, such as Shenzhen and Shanghai stock connect with Hong Kong, Chan expects the expansion of mainland firms is set to continue in the coming years.

The report forecast there will be about 1.8 million square feet of new demand for local grade A office space from mainland banking and finance sector companies over the next few years. It also expects an estimated 300,000 sq ft of expansion demand from mainland evelopers

Meanwhile, the report pointed out that rent for grade A offices rose by an average of 10 percent from March 2013 to March 2016.

Source: The Standard
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Re: HK - Commercial Properties & REITs

Postby winston » Fri Feb 03, 2017 7:33 am

Retail sector woes persist

by Koey Yip

Retail shops in different parts of Tsim Sha Tsui have remained vacant for up to two years, amid their owners' difficulties in finding tenants due mainly to prolonged poor sentiment in the sector, retail analysts said yesterday.

Reductions in asking rent have done little to lure tenants, with a significant number of shops still unoccupied, they said.

Among the hardest hit areas in Tsim Sha Tsui, a traditional tourist district, is the Park Lane Shopper's Boulevard as tourist arrivals from the mainland continue to fall.

There are about 30 retail premises between Haiphong Road and Kimberley Road and seven shops or about 23 percent of the total are unoccupied.

Three adjoining shops, with a combined area of about 2,000 square feet, have been on offer for rent for a long time.

Analysts said their owners have slashed their asking rent by 22 to 46 percent to HK$380,000 to HK$1 million per month, but they still found difficulties finding takers.

In apparent exasperation, the owner of two adjoining shops decided to rent out the units separately after cutting the rent by 22 percent.

Both shops had been vacant for two years.

The Canton Road area is also suffering from the extended sluggishness of the retail sector in the district.

A 1,000-sq-ft shop has been vacant for a year, forcing its owner to slash rent by 60 percent to HK$600,000 a month.

That rent is now the cheapest along Canton Road, but no tenant has shown any interest.

A 2,500-sq-ft shop used to be occupied by jewelry retailer Chow Tai Fook (1929), but it gave up the premises late last year.

The shop owner has reduced asking rent to HK$2.4 million a month, just about half what Chow Tai Fook used to pay.

Source: The Standard
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Re: HK - Commercial Properties & REITs

Postby winston » Wed Feb 15, 2017 7:06 am

Office Rental

On the office market front, Cushman & Wakefield Hong Kong managing director John Siu expects rents for grade- A office in Central to rise 3 to 6 percent this year.

He said Chinese companies will continue to look for office spaces in Central for expansion.

However, a report by global real estate services firm Colliers International forecast rents for grade-A office space in Kowloon East will go down 7.5-8 percent this year.

Daniel Shih, Colliers International Hong Kong director of research and advisory, said there will be a supply of two million square feet of new office spaces in Kowloon East this year.

Source: The Standard
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Re: HK - Commercial Properties & REITs

Postby winston » Wed Feb 15, 2017 7:06 am

Office Rental

On the office market front, Cushman & Wakefield Hong Kong managing director John Siu expects rents for grade- A office in Central to rise 3 to 6 percent this year.

He said Chinese companies will continue to look for office spaces in Central for expansion.

However, a report by global real estate services firm Colliers International forecast rents for grade-A office space in Kowloon East will go down 7.5-8 percent this year.

Daniel Shih, Colliers International Hong Kong director of research and advisory, said there will be a supply of two million square feet of new office spaces in Kowloon East this year.

Source: The Standard
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