Java Holdings holds 780 million to purchase 59% of Warwick Building

The investment climate of the property is quiet, but the commercial buildings in the Central Building are still in demand

Java Holdings (00251) has just spent 780 million yuan to purchase more than half of the ownership of Warwick Building in Central, which is a rare office sale in the second half of this year.

Java Holdings bought 58.83% of the undivided title of Warwick Building, 50 Wellington Street, Central, with a total construction area of ​​approximately 34,243 square feet and a price of approximately 22,778 yuan. At present, the annual rental income of the property is about 18.6 million yuan and the return is about 2.4%.

The original owner was an old family

Since the goods were held in 1963, in 1998, the owner of the neighbouring building was rebuilt into a 24-storey office building called Warwick Building.

Yuan Zhiguang, managing director and head of investment department of Savills Hong Kong, said that despite the quiet trading of office buildings, the commercial buildings in the core area of ​​Central have always had less supply, so they quickly won buyers after three months of release.

In addition, Fufeng Capital, a real estate fund founded by Sasha International (00178) Chairman Guo Shaoming’s young son Guo Haoquan and others, spent RMB 330 million to purchase 4 floors of the 2nd, 5th, 6th and 7th floors of Wangshi Building, No. 33 Hongtu Road, Kwun Tong. Each floor is about 7,000 to 8,000 square meters, and together with some of the owners of the building, the company will hold 90% of the ownership of the building. The remaining titles are also being negotiated, which is expected to unify the development of the title.

The project has a site area of ​​10,000 square meters and is planned to be redeveloped into a new industrial building

If it is approved by the Town Planning Board in the future, the maximum plot ratio of the property will be 14.4 times and the total floor area will be approximately 144,000 square feet.

Chen Zhuheng, executive director of Jones Lang LaSalle’s Capital Markets Department, said that it was entrusted by the owner to be the sole agent, and the sale of the No. 76 section of the Fanling Pingyu Village near Kongling Village, covering an area of ​​more than 142,000 square feet, with a market value of about 2.8. 100 million yuan, each land price is about 2,000 yuan.

CB Richard Ellis, Hong Kong Consultant and Trading Services Industry and Logistics Senior Director Li Shangwen said that the owner was appointed as the sole agent to sell the entire industrial building at 15 Anlemen Street, Fanling. The industrial building was completed in 1994 and is now used by the owners. For high-tech industry use.


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