Langham Place office to find buyers crown chan: take advantage of high sets will not sell part
Champion Industry (2778) announced earlier intended to sell Langham Place office, Group Chief Executive Officer and Investment Director Wang Jiaqi said that the current project is arranged in the mainland roadshow, explain the choice of sale is hope to “take advantage of cash”, but the core assets of Langham Square shopping malls and Central Garden Road projects are “not for sale”. Ming Pao reporter Chen Weishen

Benefit from the increase in office property rents, the net profit of the Group increased by 7% to RMB1.664 billion. The distributable income increased by 7.5% to RMB758 million, with 11.73 cents per medium, The

Champion mid-term property income increased by 7%

Mr Wong said he had commissioned the first Pacific Davis, which was responsible for the sale of the Langham Place office in Mong Kok, and is currently making roadshots in the Mainland. If the implementation of the sale of the project, she made clear that the funds will not be used for unit repurchase.

During the period, the net proceeds from the Garden Road No. 3 and the Langham Place office in Mong Kok were $ 536 million and $ 163 million respectively, representing an increase of 7.5% and 13% respectively over the previous year. However, the property income of the Langham Place Mall The amount of only 364 million yuan, an increase of only 3.9%. Compared to Garden Road No. 3, there were only a few leases in the Langham Place office, but the net income of the property increased significantly, while the rents were at a record high of 39.98 yuan per sq ft.

Garden Road on the 3rd floor, such as the sale price of 100 billion

Mr Wong said the sale of the Langham Place office would eventually be approved by the board of directors and focused on the interests of the unit holders. She also explained that Guan Jun so consider the sale of Langham Place office, is to take into account the recent good results in the sale, so explore the seller in good time, and after a number of points in time to buy new projects, purely in the cycle of high sell Buy it.

Relative to the Central Garden Road on the 3rd, if the reference to Murray Road land price, asking price at any time to billions of dollars so that no buyers into the market, Lang Hao Square shopping malls and chairman Luo Jiarui and former high-level Li Ching-ming, Only this one, not willing to sell, so the final sales Langhao Square office.

There is no intention to repurchase shares

If the crown sold Lang Hao Square office cash, Wang Jiaqi clear that will not be used for repurchase, because the price is only 35% of the crown Junjie, not enough for the fund industry trading. In the future, if the Crown can find a better project than the Langham Place office, it will give priority to the purchase of Hong Kong property. It is not limited to the whole purchase, self-development or joint venture with the person. She stressed that the crown did not intend to trade malls or other properties. Despite the collapse of a lawsuit between members of the Roche family in recent months, she said, the company’s business as usual.