Heshey Excelsior Hotel has become a new catalyst
Causeway Bay as the core of Hysan (00014) to improve the number of visitors to Hong Kong, the retail market to pick up, and local consumer desire to turn for the better, as of the end of March, its property occupancy rate of about 98%, the first quarter tenants turnover over the same period last year Or 0.6%, of which the first quarter of jewelery business turnover recorded net growth, consistent with the trend of retail data in Hong Kong.
The Greek share price has been rising since the beginning of this year, hit a 52-week high on Friday. Credit Suisse will be listed as the industry preferred and pointed out that the retail fundamentals improved in April, the month is better than expected, retail sales stable, help support the stock price, while limiting the risk of retail rental downside. In addition, the management showed that this year’s retail rental income stabilized, I believe that the overall business impact is not.
The current business is mainly for shops, office buildings and residential, accounting for 55.7%, 36.7% and 7.8% respectively. At the end of last year, Hiroshi Hiroshima (00480) invested in two residential areas in Tai Po, Will achieve diversification of business and investment.
With the existing floor area of 4 million feet, DBS Bank reported that Lee Garden Phase III will be completed in the fourth quarter of this year, will add an area of 500,000 feet, with the tenants continue to move into the expected rental income will be One after another. Earlier, Hysan also spent $ 75 million to buy the property and land of Lancang Road 9 to expand its property network in Causeway Bay.
Expected potential buyers
Wenhua Oriental is reviewing Causeway Bay Excelsior Hotel strategy deployment and intends to sell the project. Bank of America Merrill Lynch is expected to become a potential bid for buyers, and that Causeway Bay Excelsior hotel land can be re-developed into a 26-storey commercial buildings, with a Greek office space for about 70 yuan, Excelsior hotel land The property value of up to 20 billion yuan, more than their own land premium at least 30% premium. Once Xi Shen successful bid, is expected to stimulate the stock price challenge 40.3 yuan high.
Bloomberg General Brokers predicted that Hitch 2017 and 2018 PB were 0.58 and 0.57 times. Big line, the largest and the highest 47.7 yuan, it is recommended to buy at the current price, the target price of 41.8 yuan, fell below 36.1 yuan stop loss.