活化工厦接44宗申请 逾6成获批

政府在2018年施政报告重啟活化工厦，容许业主向城规会申请放宽地积比进行重建，据发展局昨回应立法会议员查询时指，截至今年6月底，共接获44宗申请并有28宗获批，可提供约587.7万平方呎楼面。

政府重啟活化工厦计划，容许业主申请放宽非住用地积比率以进行重建，最多为2成，以重建1987年前落成的工业大厦。据政府表示，截至2020年6月30日，城规会共收到44宗申请(不包括已撤回的两宗个案)，其中获批的项目共有28个，不获批1个，另有15个正在处理中。

就已获批的28宗申请，18宗需要向地政总署申请土地契约修订，以落实重建，并已有11宗向地政总署申请。为加快重建，政府正就现行的补地价仲裁先导计划订立改善措施，并快将推出实行。

28宗获批项目 提供588万呎

政府表示，该28宗已获批的项目，有潜力提供约587.7万平方呎楼面，包括约276.6万呎商业楼面及311万呎工业楼面。据了解，现时活化工厦申请中，较多个案集中东九龙区，预计将成新供应重镇。

(经济日报)

港大两年斥10亿 购翰林峰商场

土地註册处资料显示，邻近香港大学的新盘翰林峰商场部分，再获香港大学以近4.6亿元购入，值得一提的是，两年前港大已经购入商场另外的部分，当时作价约5亿元。

资料显示，翰林峰商场A部分，以4.596亿元易手，面积19,533平方呎，呎价23,529元。

香港大学发言人表示，就2018年购入的部分，香港大学牙医学院正筹备专科培训诊所，预计今年下旬投入服务，详情稍后公布。至于新近商讨购入的部分，将用作港大学生设施，供同学使用。

(经济日报)

葵涌瑞康工厦全幢标售 估值逾5.6亿

受惠活化工厦政策，楼龄大，业权集中的工厦成为市场收购的焦点，而现正招标放售的葵涌瑞康工业大厦，涉及9成业权联合标售，估值约5.6亿元。

葵涌瑞康工业大厦，位处葵涌青山公路葵涌段547至549号，楼龄约49年，楼高12层，地盘面积约14,291平方呎，现有建筑面积约14.7万平方呎，为西九龙罕有的高潜力项目，而物业邻近住宅群及商贸区，加上受大湾区利好辐射，以及受惠活化工厦政策2.0前景看俏，项目现正招标，截标日期为2020年8月28日(正午12时)。

有代理指，瑞康工业大厦目前超过9成业权出售，亦可商议100%业权出售，此外，该厦现有地积比率为9.5倍，高度限制为105米，以现时非住宅地带工厦可申请全幢重建工业大厦，或补地价重建为商厦或酒店，容许放宽非住宅用地积比率上限为20%，故重建或活化工厦，较其他工厦享有较高的资本值增长。

涉及9成业权 重建活化皆宜

位置上，该厦距离港铁葵兴站约10分鐘路程，至西九龙高铁站及港铁中环站亦于20分鐘之内可抵，而项目同时邻近青山公路、昌荣路、葵涌道等主要干道，前往港珠澳大桥及机场等地亦只要20分鐘，有利跨境公司。而受惠于政府推出活化工厦政策2.0，瑞康工业大厦的发展潜力及弹性大增，项目可选择重建或全幢出售，价值亦相应提升，而在新政策下，预计市场对全幢物业大有兴致。

(经济日报)

Peak home sells at last

A foreclosed house on The Peak was sold for HK$171 million after being on the market for three years, with the price per square foot at HK$71,600. The offered price decreased 43 percent compared with seven years ago.

Meanwhile, the property agency index showed that rents for private homes stood at HK$33.90 per sq ft in June, the first rise after falling for 10 months, while land premiums in the second quarter amounted to HK$570 million.

L'aquatique in Tsing Lung Tau, built by mainland developer Metallurgical Corporation of China (1618), has recorded forfeited deposits from potential buyers of 23 units, accounting for 29 percent of its 80 transactions.

The occupation permit of L'aquatique has not been approved for a year due to slope work.

China Overseas Land and Investment (0688) has named its project at Kai Tak as One Victoria, which is expected to be completed in the first quarter of 2023 and offer 1,059 units.

A 362-square-foot unit at Tsuen King Garden, Tsuen Wan, changed hands for HK$5.55 million, or HK$15,331 per sq ft. The first-time buyer did not view the flat.

A real estate agency predicted that companies may delay decisions on real estate requirements, amid the net withdrawal in all major office markets, with Central leading the way with 500,000 sq ft less in the first half, as overall demand weakened.

The University of Hong Kong bought the rest of Novum West in Sai Ying Pun, developed by Henderson Land Development (0012), for HK$459 million last month, after it acquired part of the commercial project for HK$504 million in 2018. The property is said to be purchased for teaching and research purposes.

In other news, the one-month Hong Kong interbank offered rate dropped for a fourth consecutive day to 0.3297 percent, the lowest since October 28, 2016.

(The Standard)

Chinese firms seeking Hong Kong listings amid US hostility may help buoy flagging office rental market as space the size of Lippo Centre abandoned

Mainland firms embarking on secondary stock listings in the city amid rising tension between Beijing and Washington may absorb some of the pain as abandoned office space soars to 18-year high

In first half of 2020, tenants bailed on 1.3 million sq ft of office space – the size of Admiralty’s Lippo Centre – as they tried to cut costs to stay afloat

Companies are giving up their office space in Hong Kong at an almost unprecedented rate as the economy tanks in the wake of Covid-19, which piled further misery on top of the city’s year-long political crisis.

But observers say there is a glimmer of hope for the world’s most expensive office market: mainland Chinese firms setting up shop as they embark on secondary stock listings in Hong Kong amid rising tension between Beijing and Washington.

With the Trump administration pushing legislation that could lead to delistings of US-traded Chinese companies, some firms are gearing up for secondary stock offerings in the city to fend off the threat. Gaming company NetEase and JD.com, China’s second-largest e-commerce platform, have recently spearheaded the expected stampede by debuting in Hong Kong.

“Secondary listings of mainland firms on the Hong Kong stock exchange are expected to lead a pickup in leasing demand in the city,” property agent said. “Although it may not immediately result in these companies taking on large office spaces, the downstream business opportunities for ancillary finance and business services will support overall growth.”

Some mainland Chinese tech heavyweights, including the Post’s owner Alibaba and ByteDance, have recently committed to new leases of large swathes of premium office space in Hong Kong.

It may not be enough to counterbalance surging vacancy rates.

The amount of surrendered space – offices vacated by occupants before their lease expires – in Hong Kong is at an 18-year high as multinationals elect to downsize their footprint in the city.

In the first half of this year, tenants bailed on 1.3 million sq ft of office space – the size of Admiralty’s Lippo Centre or Kowloon East’s Landmark East – as they tried to cut costs to stay afloat. About three quarters of the abandoned space is on Hong Kong Island.

“Leasing demand will remain subdued in the second half of this year due to the weakened economy,” the agent said in an online “midyear property review” briefing.

The agency predicts Central office rent will fall by up to 30 per cent this year as the amount of vacant office space continues to rise.

The premium, or grade A, office market recorded a negative take-up of 1.42 million sq ft in the first six months, among the highest net withdrawals from the market ever recorded, according to the agency.

Rents in Central have dropped almost a quarter from their peak in April 2019 as companies relocate to cheaper districts.

“Corporate solvency has become an issue as more firms opt to downsize or close altogether in a business environment facing numerous challenges over the next six months,” another agent said.

The total amount of office transactions plummeted by 83 per cent in the first half, according to another agent.

“The global epidemic situation was severe, and many countries in Europe and the United States closed their borders to prevent the spread. The economy and pace of corporate expansion was greatly affected,” the agent said.

During the pandemic, many companies have asked their employees to work from home. Having realised some of its benefits, some have taken the opportunity to control costs, downsizing their offices by 5 to 20 per cent, another agent said.

That trend alone may push the vacancy rate of the office market higher than its current 8.1 per cent, she said.

Some smaller businesses, and those in purchasing and shipping, have had problems paying their rent, the agent said, pushing landlords to take legal action. Some have just walked away from their leases and abandoned the office space, the agent added, though that has not happened as much as it did during the Sars outbreak in 2003.

E-commerce giant Alibaba has committed to another storey – floor 27 – of Tower One in Times Square, covering about 17,000 sq ft for HK$1.03 million a month, or HK$60 per sq ft. That is about 10 per cent less than the space was previously leased for, according to property agency. Including the offices of the South China Morning Post, Alibaba has now rented 11.5 floors of Times Square, becoming its biggest tenant.

ByteDance, the owner of short video platform TikTok, has entered into a three-year lease for about 3,000 sq ft in the same building, according to property agency.

Guangzhou-based developer KWG Group Holdings recently rented 25,609 sq ft at The Center, Hong Kong’s priciest commercial tower, according to property agency.

Some major mainland financial institutions, such as CMB International Capital, China Minsheng Bank and Orient Finance Holdings, were also said to have signed up for additional office space in Central while their foreign counterparts consider downsizing, the consultancy added.

“Although the unemployment rate in finance, insurance, real estate and business services hit a 10-year peak, we see a resurgence in demand from [mainland] technology and finance companies and flexible space operators, which supports the office leasing market,” agent said.

Despite the entry of mainland firms, the outlook for Hong Kong’s office market remains cloudy, as withdrawals outpace new lettings.

“While we are seeing inspection activities gradually picking up, occupiers remain very cautious,” another agent said. “A majority of current leasing mandates are for cost-control or cost-saving purposes, whilst new and expansion needs remain very limited.”

(South China Morning Post)