Colliers Hong Kong | Office Insider | Oct/Nov 2019 kong/2019_ima… · – Hong Kong’s CBD and financial hub, increased seven times within the same period. However, Hong Kong’s

Office InsiderHONG KONG COMMERCIAL REAL ESTATE AT YOUR FINGERTIPSOCTOBER - NOVEMBER 2019

FEATURE STORY

THE BEGINNINGOF A DOWN CYCLE

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2019. All rights reserved.

FIONA NGANHead of Office ServicesTel +852 2822 [email protected] No: E-197789

CONTACT US EDITORIAL BOARD KATE HEALY-SMITHDirector Marketing & Client [email protected]

FRANCISCO SKOVMANDSenior Content Manager Marketing & Client [email protected]

JACQUELINE MUISenior Creative Designer Marketing & Client [email protected]

VALERIE TSOBusiness Acceleration ManagerOffice [email protected]

Office Insider is a bi-monthly magazine featuring the latest in the office property market. Everything from new trends, to popular monthly listings, and Colliers’ most recent projects and news.

P16 Meet Winson Lam from our japanese desk

P19 Transaction insights

P20 Landlord projects

P25 Featured properties

Content

P03 The beginning of a down cycle

P10 Short-term uncertainties and long-term opportunities

P13 Differentiating a building: Designing a property brand

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Feature Story

Page 3 | Colliers International | Office Insider | October - November 2019

2019 has been an interesting and different year for

Hong Kong. During the first half of the year, Hong Kong’s

economy experienced a slowdown due to the US-China

trade war – which has weighed on both global trade

and the economy; and now, the city is entering its sixth

month of social unrest after the failed introduction of the

extradition bill, which has had a strong impact on both

the city’s market sentiment and business environment.

The beginning

of a down cycleby Fiona Ngan

Head of Office Services, Hong Kong SAR

and Zac Tang Manager, Research, Hong Kong SAR

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Hong Kong Real GDP Growth vs. Business Outlook for High-valued Sectors

Hong Kong Grade A Office Rental and Vacancy Trend

It comes as no surprise that the office leasing market has begun to lose its momentum. Highlighted in the Q3 2019 Quarterly Business Tendency Survey, conducted by the Hong Kong Census and Statistics Department, respondents expect the outlook for the city’s business situation to be as bad as during the Global Financial Crisis in 2009. Additionally, a warning of the impending down cycle in the office market was made clear by a vacancy rate of 5.7% in August 2019 – the highest since Q1 2010 which also surpassed the 5% vacancy level point, and something that has rarely been seen since 2011.

Feature Story

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Central / Admiralty Grade A Office Rental Trend

A brief history of down cyclesHong Kong’s Grade A office market has been thriving as overall rents tripled and increased from 2003 to 2019; and rents specific to Central – Hong Kong’s CBD and financial hub, increased seven times within the same period. However, Hong Kong’s market has experienced three major down cycles – the dotcom bubble followed by the SARS outbreak, the Global Financial Crisis, and the Euro Debt Crisis; and throughout, Central has always taken the brunt of the impact. The area is more sensitive to external changes given its high population of multinational firms.

The SARS OutbreakDuring 2001 to 2003, Hong Kong’s market faced similar pressures to today, in the form of external factors with the dotcom bubble and internal factors with the outbreak of SARS. While many suggest this could be a possible indication to what the downcycle could look like – lengthy and with a slow recovery, we believe the market conditions were somewhat different to todays. For example, the iconic IFC towers did not make an impact until their completion in 2003 and the market was not as mature as it is today. The fundamentals during the SARS outbreak may be very different from today and not as indicative.

Instead, we need to look at the two more recent down cycles – the Global Financial Crisis and the Euro Debt Crisis, to help us understand the impact of the current uncertainties in the market and the short-term rental changes in 2020.

dotcom bubble

& SARS

GFC Euro Debt Crisis

Page 6 | Colliers International | Office Insider | October - November 2019Page 6 | Colliers International | Office Insider | October - November 2019

Feature Story


The Global Financial Crisis and the Euro Debt CrisisThe financial industry was not the only victim of the Global Financial Crisis. Hong Kong’s economy took a hit and entered a technical recession from Q4 2008 to Q3 2009. During which unemployment rates surged to above 5% – the highest since 2005, reflecting a significant downsize of companies and a high office vacancy rate of 8.3%. With rental drops across all major office districts, a massive rental decline of 21.2% YOY was recorded in 2009.

In contrast, Hong Kong’s GDP growth stayed positive during the Euro Debt Crisis of 2012, amid almost full employment. As such, office demand remained stable and the office vacancy rate did not increase. The Central/Admiralty districts, home to several financial companies, was the only office market directly affected by the crisis with a decline in rents of 15.1%. Rents in other major submarkets remained positive amid the healthy economy and labour market.

Grade A Office Rental Change in 2009 and 2012

YOY Change GBA 2012

Central / Admiralty -24.5% -15.1%

Wan Chai / Causeway Bay -22.6% 1.1%

Island East -15.8% 4.5%

Sheung Wan -17% -0.5%

Tsim Sha Tsui -11% 10.2%

Kowloon East -1% 11.8%

Kowloon West 6.1% 12%

Overall -21.2% -5.6%


What happens next? A 2020 rental forecastHong Kong’s economy entered a technical recession in Q3 2019, which is likely to persist in H1 2020, according to Oxford Economics. However, the unemployment rate is predicted to increase from the current 2.9% to 3.2% by the end of 2020, representing a tight labour market. That said, we are facing a combined and different market situation - a more mature office market compared to that of 2001-2003, a healthier economy compared to the one in 2009, and a slowdown in various industries compared to only the financial industry being affected during 2012.

A more mature market and a healthier economic outlook indicate a less volatile market. However, a rental decline would not only happen in Central, but across Hong Kong’s business districts due to the structural shift in industries such as trading and logistics, as well as retail and tourism.

As of now, we are forecasting the rents for Central/Admiralty to decline 13.1% in 2020, a more moderate fall compared to the declines of 24.5% in 2009 and

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Feature Story


15.1% in 2012. One of the reasons is because of the market maturity as multinational companies have become increasingly cost-conscious. This suggests a lower market volatility and an extended rental cycle. However, a weak rebound is expected after the decline as many PRC firms, a main driver for CBD rents, are already present in the market and have adopted a more rational real estate strategy than before.

We expect Island East to remain relatively resilient as rental levels are still discounted from the CBD and CBD fringe areas, while decentralisation trends should continue amid a cautious business outlook. Meanwhile, low vacancy rates and no new Grade A office supply until 2022 are likely to support a more positive outlook in the area. In Kowloon, office demand and rents are expected to stay under pressure due to the downsize of trading and retail companies, as well as several multinationals who have moved their headquarters or back offices into the area.

We would be pleased to see the market recover after the expected decline in 2020, however, global and local uncertainties remain… uncertain.

For a more in-depth discussion around current market trends and the rent forecast for 2020, please contact Fiona Ngan at [email protected].

YOY Change 2020F Net Effective Rent

Central / Admiralty -13.1% 115.1

Wan Chai / Causeway Bay -3.3% 74.9

Island East 0.7% 59.2

Sheung Wan -1.8% 82.9

Tsim Sha Tsui -9.3% 57.2

Kowloon East -4.4% 35.3

Kowloon West 0.3% 35.8

Overall -8.3% 70.3

Grade A Office Rental Forecast for 2020

Hong Kong’s commercial market is evolving on the back

of local and regional factors, such as the US-China trade

war, the ongoing local demonstrations, changes in the

co-working sector, and declining rents. Now, with a shift in

business sentiment and capital expenditure (CAPEX) being

tightly scrutinized, tenants and businesses are taking a

more cautious approach.

Short-term uncertainties

and long-term opportunities

by Chris Currie Executive Director of Office Services, Hong Kong


Opinion Piece


A shift towards Enterprise SolutionsThe flexible workspace sector is one of particular interest, as the offerings between the co-working and traditional service operators merge to provide a service that includes full design-build, leasing, and space management through an enterprise solution. Portfolio landlords are also starting to offer a similar type of design-build and lease solution.

Flexible workspace options are widely known in the market – making headlines in the past two years for their rapid expansion into the Hong Kong market and subsequent oversupply. As part of the enterprise solution many of these operators are now evolving their models to offer full bespoke packages, which can follow the occupiers’ brand guidelines and deliver an owned office rather than a space branded under the operators’ name. More and more, additional flexibility is being offered across all locations and buildings managed by a flexible workspace operator.

From some of the more traditional landlords we are seeing a more flexible approach to negotiations. Items such as CAPEX, which haven’t been heard in Hong Kong’s market for over five years, are now being selectively offered from some landlords as well as other incentives such as longer licence and rent-free periods, as well as other non-financial terms.

Effective rents across CentralOn the financial side, Grade A rents are now declining and our forecast of -3.8% for Grade A Central look accurate. For 2020, Colliers is forecasting rents for Central to drop 13.1% and for the overall market to decline by 8.3%.

This is a great opportunity for occupiers – music to their ears, as they have had to endure high rents over the last 36 months. However, markets tend to be cyclical in nature, and past trends tend to reflect future trends. Over the last 15 years, in every year when there has been a double-digit drop in rents, there is a bounce back in the following year. A prominent example was in 2008-2009 when rents dropped by 45% and by 2010 rebounded by 48%.

Colliers are therefore forecasting the bottom of the market to be reached in the next 6-9 months.

On top of the decline in rents, 2020 will have limited new supply which could in fact restrict the downward pressure on rents. Second hand stock, especially in the co-working sector are the clouds on the horizon, which could push vacancy up to levels not seen since 2009.

The short-term uncertainty and long-term opportunityDespite the current business sentiment, the fundamentals for Hong Kong are still strong - low unemployment, low vacancy, and limited new supply, and these short-term uncertainties should be seen as nothing more than long-term opportunities. The window of opportunity is currently open for tenants to secure increasingly favourable and more accommodating terms from both the traditional and flexible sectors through their enterprise solutions.

If you would like to know more about the current market, explore some of the long-term opportunities, or even to discuss how to secure better terms, feel free to get in touch with Chris Currie at [email protected]


Properties, no matter what type of building – office blocks,

skyscrapers, malls, houses and residential complexes,

and even warehouses, tend to differentiate themselves

because of their tangible attributes. For obvious reasons,

the physicality of a property is usually top-of-mind for

people – a building’s appearance and design, its location,

surroundings and amenities, as well as its facilities and

systems are what people first see. However, a building’s

intangible features like its identity, personality, and values

– everything that goes into its brand, also plays a key role

as points of differentiation and a way to increase the value

of the property – the brand premium.

Differentiating a building:

Designing a property brand

by Francisco Skovmand Senior Content Manager, Marketing & Communications

Opinion Piece


Building a great brandA great brand can give a building more value – creating greater alignment with the tenants and users, it can help a building be more distinctive – elevating the offering and experiences, and make a property be more credible – increasing awareness and word of mouth. And that’s what we want, we want people to tell their own stories around a brand.

However, brands need to be well thought out. They need a purpose, they should stand for something; they should have a vision and a mission, its ultimate ambition and an idea of how they will achieve that vision. A brand should also have values, a set of beliefs that provide guidance and fuel its personality. All these apply to any brand (for a building), but it is hard to clearly define these without first having a thorough understanding of what a product (building) aspires to be and deliver on – its unique selling points. It is also sometimes hard to get one’s head around all the different definitions of a brand.

But there are easy starting points to create a brand. Thinking about the fundamental principles – the values, the emotional attributes – the personality, and the rational attributes – the performance, are good starting points.

The brand valuesThese are the fundamental principles that define the brand experience, think of them as the key themes to your brand story. What is it about your building that you want it to be known for? Community, wellness, creativity, efficiency? These help communicate what your brand delivers, but also what it stands for.

The personalityThe emotional aspects that define the brand delivery e.g. tone of voice, style, attitude, etc. If your brand was a person, what characteristics would they have? Is it traditional, prestigious, high and mighty, or innovative, funky, and relaxed? These characteristics build a basis to connect with audiences – a more personal/human connection.

A building’s brand should be a representation of what a property stands for as a destination. It should be built on a solid understanding of the product, its service, its key offerings, and a grasp of what are its audience’s intended needs – what the occupiers and users want from the property. Buildings, just like products, companies, and people, have different brands tied to them; a name, symbols, and certain characteristics that encapsulate and highlight its unique selling points, to not only help the building stand out, but to easier communicate its benefits.

Despite the importance of a brand, we still on occasion get asked – ‘how do we create a brand for a building?’


If you would like to know more about the branding process or the work we have delivered on brand and marketing strategy, please reach out to me at [email protected]

The performanceThe rational aspects that define how the brand operates. From a property perspective, this could be the elements of value in a property – all the things that make a property what it is. These can include obvious items like location, accessibility, design, and facilities, to some of the more ‘hidden’ features like wellness, management, specifications, and sustainability. Below we go a little deeper into some of these.

Design, its appearance and design features. What influenced the design, what trends were included, and how do these add to the experience. What are the functional elements of the design and what are the aesthetic elements? How do these deliver on the building’s promise?

Location, its location and neighbourhood. A building located in Central or Admiralty could stand for prestige and power, but down the road in Sheung Wan it could be creativity and funkiness. How do we leverage the building’s location to add to the brand story?

Facilities, its provisions and amenities. What features does the building have that deliver on sustainability, convenience, wellness, productivity, happiness, etc.? What are some of the key elements that create a great destination?

Tenant mix, its occupiers and users. What kind of tenant is the building trying to attract? Different brands can attract tenants if they align with the occupiers’ own brand. A financial company might respond better to a more distinguished brand, while an architecture firm would prefer a more artsy brand.

Management, its owner and manager. Who is managing the building? And what is their reputation in the market. Buildings can leverage or play on already established brands, for example properties owned by Swire tend to speak for themselves in terms of quality and services.

No matter what, a brand should be built on the delivery of a great product and a proposition that places the users’ experience at its heart. In a building, it is being able to look at the elements of value as the distinctive attributes of a building, as benefits or a property’s competitive advantages that translate to positive impact on both staff and business.

The importance of brandI want to emphasize… A well-designed brand can be a powerful platform to communicate a building’s unique selling points, key benefits, and promises; and in today’s world, where things travel fast, a brand’s awareness and popularity can spread quickly. But it is important to think of the following things: How does a brand set itself apart? Who is its target audience? What exactly is the brand offering? What is it promising? And why should people buy into or believe in the brand?

The other thing is, if your brand is well defined – it knows its values, personality, and performance, and it can answer the above questions, the brand will be able to support and guide the marketing strategy that follows. The numerous outputs that should reflect and communicate a building’s overall proposition. And again, at the end of the day, what you really want from your brand is that people share memorable stories about the great experiences they have when spending time in your building.

Opinion Piece



What are your current views on the market? W: Based on the market changes from June onwards, due to the US-China trade war and the ongoing demonstrations, many tenants have changed their real estate strategies and planning – many have adopted a wait-and-see approach before they take any steps forward. However, we are seeing some clients continue to plan their office moves due to expiry terms closing in, but, many are considering downsizing their spaces in order to save costs, including moving from Grade A buildings to Grade B or revitalized properties.

" I began my career in the real estate

industry in Hong Kong, and I now

have more than 20 years of experience.

I primarily work in Hong Kong’s office

markets advising and helping clients

with their office leasing requirements.

However, throughout my career

I haven’t just solely worked in leasing,

I have a wide spectrum of real estate

experience, which includes buying

and selling properties in the office

sector, as well as in the residential,

retail, and industrial sectors. "

Winson Lam works in the office services team and is embedded in the Kowloon market. However, because of his fluency in Japanese he has been able to target a niche set of clients – Japanese companies looking to enter the Hong Kong market or looking to relocate their current Hong Kong office. Winson shares with us some of his experiences working with Japanese clients, and some of his views on the current market.

Meet Winson Lam from our Japanese Desk

W: I wouldn’t say we have a dedicated Japanese desk, but we do have plenty of Japanese clients and a few brokers that speak fluent Japanese – including myself. Because of this, over the years I have been able to build a strong client base of companies from Japan.

There are plenty of Japanese companies in Hong Kong, and many do prefer to have someone who can speak fluent Japanese at their side. The reason being is that senior management for these companies, both in Hong Kong and in Japan, tend to want to know and be involved in project specifics. Thus, its beneficial for them to have someone who has a good grasp of both Japanese and the Hong Kong office market.

Similar to Chinese culture, Japanese place a great deal of value on relationships. Once trust is established, a relationship can last for a very long time. Hence, speaking Japanese can help create strong bonds with clients. However, Japanese corporates tend to change senior management every three years, so the relationship building exercise becomes a recurrent exercise. Due to this, it is important to build relationships with other senior staff members, which tend to be local staff. This makes it easier for me to work with Japanese companies.

On this note, it is also important to be able to keep up with Japanese business customs. Being courteous, keeping time, and reporting details are essential to building a strong relationship with a client. For example, a Japanese toy company was planning to open their Hong Kong office at a time when rents were quickly escalating, which made it difficult to calculate the costs and prepare a move-in plan. By keeping with their customs, understanding their needs and concerns, doing the relevant research on the overall economic market and office submarkets, and carrying out the analysis of different options available, either to buy or lease, I managed to consolidate several office suggestions for them.

What are your experiences in the ‘Japanese Desk’?


Broker's Interview


What do Japanese companies usually expect when searching for an office?

W: When Japanese clients look to set up an office in Hong Kong, they usually target Grade A offices that start from 1,000 sq ft gross. In terms of the property type and district location, it varies depending on industry and budget, but Japanese clients usually like to be close to other Japanese firms and they like new buildings. Banking and Finance occupiers like Mizuho Bank, MUFG Bank, and Nomura are in Central, Admiralty and Tsim Sha Tsui – for both the prestige and closeness to their clients; Retail, FMCG companies, and Conglomerates like Aeon, Fujifilm, Hitachi, and Toshiba tend to look for offices on the Kowloon side; while Shipping and Logistics companies like MOL, Nippon Express, Kamigumi, and Yusen are in Kowloon West and Kowloon East.

Leasing practices in Japan and Hong Kong are quite different regarding terms, handover conditions, deposit amounts, etc. So we usually need to spend some time educating new arrivals on Hong Kong practices so they can revert back to their headquarters – compared to other nationalities, Japanese occupiers tend to take quite a long time before a decision is made.

Do you have any words of advice? W: In my time as a broker, the most important thing I’ve learned, be it in Cantonese, Japanese, or English, is that good service matters. The ability to provide high-quality services to customers is key to building close relationships and trust with our clients; and by speaking in their own language, one can improve on the service experience, making the interactions more memorable. If one can do that, chances are that when a customer needs your service or opinion, even if 10 years pass, they are likely to seek you out.

If you would like to know more about the Kowloon or Hong Kong office markets, or if you are looking for a new space, don’t hesitate to reach out to Winson Lam at [email protected]

TRANSACTION INSIGHTS

The Hong Kong Bankers Club

Dah Sing Bank's Relocation


Transcation Insights

After 38 years in their current location at the top of Gloucester Tower in The Landmark, The Hong Kong Bankers Club will move to a new location. In 2020 the Club will relocate to it’s new home in the podium of Nexxus Building at 77 Des Voeux Road Central. The need to stay within Central was paramount for the Club, and the opening of a new bridge connecting Nexxus with IFC ensures that members retain the connectivity they currently enjoy.

As a transaction, locating a new premise proved particularly challenging due to the Club’s need for town gas. Central to the Club’s offering is their signature Chinese restaurant, The Dragon. The requirement added an extra complication to negotiations but none-the-less, after 2.5 years and exploring 17 different options the Club is extremely pleased with it’s new home, and has found an extremely accommodating landlord and partner in the form of EMC Assets Management Ltd.

Thomas Partridge Senior Manager of Office Services,

Hong Kong

Since June 2019, Hong Kong’s occupier market has had a more cautious sentiment and approach. Tenants, particularly those on the Hong Kong Island, are rethinking their real estate strategies and relocation opportunities. Still, a large office leasing transaction has been recorded in August 2019 – Dah Sing Bank’s relocation to Sunlight Tower.

By October 2020, the bank will occupy more than 76,000 sq ft of office space in Wan Chai, occupying the 17, 21-23, and 25-28 floors through a direct deal between the owner and tenant. Dah Sing Bank is currently at the Everbright Centre on 108 Gloucester Road in Wan Chai, which was previously named Dah Sing Financial Centre till the building’s acquisition from the China Everbright Group in 2016.

The owner of Sunlight Tower, Henderson’s Sunlight REIT is willing to offer naming rights to Dah Sing Bank given the size of the lease. Dah Sing Bank will also enjoy a rent that is 30% lower, at around HKD 50 of unit rent. The existing tenant, Anglo-Eastern Ship Management, will relocate to Kingston International Centre in Kowloon Bay in Q3 2020, saving approximately 25% on rent – at around HKD 40 to 30 per sq ft.

Laurens Chan Senior Director of Office Services,

Hong Kong

Harbour East has everything to inspire confidence in its occupiers and drive the emergence of Fortress Hill as a cosmopolitan business district.

Harbour East is a brand-new Grade A commercial building, just a three-min walk from the Fortress Hill MTR. It has been designed with smart features as well as wellness principles, and is surrounded by an abundance of trendy and traditionalamenities. Developed by Henderson Land Group, the landlord’s third commercial building in the area, Harbour East solidifies the developer’s vision of the area’s repositioning as a modern up-and-coming business district.


Landlord ProjectLandlord Project

Fortress Hill is nestled between Causeway Bay and North Point, and is strategically positioned as the interlink between the CBD, Quarry Bay and Kowloon East via the Central - Wanchai Bypass.

The district features a remarkable intersection between Hong Kong’s history and tradition. A wave of gentrification has brought several new interesting developments into the area together with a variety of fashionable hotels and F&B options, as well as local vendors and businesses. Oi! at 12 Oil Street, for example, saw the transformation of a historical building into a popular art hub and community centre.

Unlike some of the other emerging decentralized business districts, such as Wong Chuk Hang or Kowloon East, Fortress Hill is a non-industrial area with less congestion allowing for a more pedestrian friendly community.

The interlink

between CBDs

Harbour East was designed around green initiatives, it will boast certifications from LEED Platinum and BEAM Plus Platinum, and has been awarded the prestigious China ‘Three-Star’ green building award. The building features climate-responsive architecture, openable windows, and electric blinds to help reduce energy consumption. It has efficient floorplates with a minimal column design for optimal levels of natural light; and air filtration to improve air quality and create a healthier working environment. On the second floor there is a landscaped podium garden, which brings an element of nature within the building. It is a rare comfort and place for collaboration or relaxation in the middle of a bustling district.

The building is the first of its kind to feature a truly energizing design, aimed towards creating a highly efficient and productive workspace for its occupiers. The presence of advanced green and smart technologies and health initiatives is a new standard for both the building and the forward-thinking landlord.

Smart quality and wellness

Henderson Land Group is the portfolio landlord for Harbour East. Some of Henderson’s landmark projects include the IFC complex and Manulife Finance Centre. They also own AIA Tower, the tallest and most iconic office building in Fortress Hill, opposite Harbour East. Henderson Land Group’s unparallel reputation in Hong Kong’s real estate market can provide peace of mind with the quality of the development and management as well as the number of reputable multinational tenants in their portfolio.

A pioneering management

team

If you are interested in Harbour East and would like to know more about the property as well as the district, or if you would like to arrange a viewing, please contact Eugene Yip ([email protected]), Leasing Executive for Office Services.



69 JERVOIS STREET

Landlord Project

Central

Completion Year

1999

Building Use

Office

Total Gross Area

Approx. 102,000 sq ft (G)

Typical Floor Area

Approx. 3,976 sq ft (G)

No. of Floors

32 floors

Nearest MTR

3 minutes by walk

Disclaimer: Floor Plan measurements are approximate and are for illustrative purposes only. While we do not doubt the floor plans accuracy, we make no guarantee, warranty or representation as to the accuracy and completeness of the floor plan. You or your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction as to the suitability of the property for your space requirement

Property ID: 120300241712

FLOOR PLAN

MAIN FEATURES

1 3 minute walk to Sheung Wan MTR Station

2 10-15 minute walk to Core Central Business District

3 5 minute walk to Hong Kong - Macau Ferry Terminal

Can be subdivided

SHEUNG WAN

Des Voeux Road

Wing Lok StreetCentral

Wanchai Bypass

69 JERVOIS STREET

WING ONCENTRE

INFINITUS PLAZA

NAN FUNGTOWER

THE CENTER

COSCO TOWER

Featured Properties

> Approx. Area: 8,364 sq ft (G) or 3,493 sq ft (G) > Availability: Immediate



Fully fitted

52 Hung To RoadKwun Tong

SOLE AGENT

DRAWING NO.

DRAWING TITLE

LAYOUT PLAN

LP - 01

This drawing is for information only to beused by the contractors as a generalarrangement of interior conditions it hasbeen made from available information.However, measurements are to be cerifiedon project site.

This drawing is the property of Mega-InDesign Ltd. and is not to be reproduced orcopied in whole or in part it is only to be usedfor the project and site specifically identifiedherein and is not to be used on any otherproject. It is to be returned upon request.

CLIENT

DATE

SCALENOTES

PROJECT NO.

DRAWN

CHECKED

APPROVED

VERSION

A

1:125

Storage & Network Room

Room of Sales & Admin

�eeting Rm�

StorageRoom

�ommon Area

�ressingRoomStudio A

��ome Setting�

Studio ��hoto Shooting Area�

�� Wall

�a�e ��igh �hair�

267594703600

2900

Threater Gaming Recoding Studio

4000

1200

1200

ArtDept.

Editorial Dept. W

orks

hop

Kicthen

行政秘書

800m

m (

W)

高櫃

x

4 o

24-hour Air-conditioning

24hr 7-min walk to Kwun Tong MTR station

The CentreCentral

> Approx. area: 8,453 sq ft (G) > Can potentially become 12,237 sq ft (G) > Grand entrance lobby> Raised Floor System> High Floors> Mountain and partial sea view> Availability: Immediate

SOLE AGENT

Close to Public Transport Parking

Seaview

Raised Floor

Close to MTR StationFully fitted Mountain View


> Approx. area 2,050 to 17,606 sq ft (G) > Grade A office in Kwun Tong Road> Whole floor fitted opportunity> Near apm shopping centre, Ngau Tau Kok

and Kwun Tong MTR stations


Millennium City 6392 Kwun Tong Road

HOT STOCK

Raised Floor

Close to Public Transport ParkingClose to MTR

Station

Open View

LOW ZONE

Seaview

F&B


TOWER 1

TOWER 2

Grand Century PlaceMongkok

> Size: Approx. 1,100 – 26,000 sq ft (G)

> Availability: Immediate

> Centre of Mong Kok Commercial Hub

> A top of MOKO Shopping Mall and connected to Royal Plaza Hotel

> The location offering a wide range of brand-name retail shops, restaurants and entertainment

> Direct access to Mongkok East MTR station and short walking distance to Mongkok and Prince Edward MTR stations

HOT STOCK

Property ID: Tower 1 - 120300083856 & Tower 2 - 120300083859

Featured Properties

Close to Public Transport

Mountain View

Close to MTR Station

Garden View /Open View



> Building name: Lee Garden Two> Approx. area: 31,443 sq ft (L) (2 consecutive floors)> Availability: Q4 2020> 5 minutes’ walk from Causeway Bay MTR station > Fully fitted> Open view> Parking> 24-hour air-conditioning > Ideal location for headquarter


Lee Garden TwoCauseway Bay

HOT STOCK

Close to Public Transport ParkingClose to MTR

Station

Open View

Featured Properties

Fully fitted 24-hour Air-conditioning

24hr


www.colliers.com/hongkong

Office Services - KowloonUnit 2309, 23/F BEA Tower, Millennium City 5 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong SARTel: 852 2822 0722Fax: 852 2828 9899Email: [email protected]

Office Services - Hong Kong5701 Central Plaza, 18 Harbour RoadWanchai, Hong Kong SARTel: 852 2822 0668Fax: 852 2107 6060Email: [email protected]

Colliers International Agency LimitedCompany Licence No: C-006069

Documents

Colliers Hong Kong | Office Insider | Oct/Nov 2019 kong/2019_ima… · – Hong Kong’s CBD and financial hub, increased seven times within the same period. However, Hong Kong’s