Colliers Moving Times 4Q 2014

HONG KONG EDITION

DECEMBER 2014

Hong Kong Commercial Real Estate at Your Fingertips

HONG KONG

WIN

KO

WL OO

UPS

N

en Where are w ow?

G

G

IN W nS

dow

Mainland Corporates Remain the Primary Drivers The best of the best

Market outlook

A comprehensive portfolio showcasing premier office leasing opportunities across Hong Kong

Investment yields are expected to edge up

Further tightening in secondary stock

Further tightening in secondary stock

36

PRIMARY DRIVER

FINDING SPACE BUYERS SHIFT

C OV E R S TORY Hong Kong Island 5 7

Sole Agency Appointments Special Listings Hot Listings

10

Recent Leasing Transactions

16

Kowloon Sole Agent Hot Listings Sole & Joint Sole Agency Appointments Hot Listings Recent Leasing Transactions

18 22 25 26 35

KEY TO PROPERTY ICONS Seaview

Mountain View

Garden View

Close to MTR Station

Raised Floor

Fitted-out

Parking

24-hour Air-conditioning

Close to Public Transport

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). Š2014. All rights reserved.

CENTRAL ADMIRALTY SHEUNG WAN WAN CHAI CAUSEWAY BAY ISLAND EAST

Hong Kong Island

SOUTHSIDE

38 WONG CHUK HANG ROAD | HONG KONG

Unveiling a new office icon A brand new Grade A development situated within minutes via the soon to be completed South Island Line to the Admiralty Railway Interchange.

For leasing enquiries, call us NOW SOLE AGENT Colliers International Agency Limited

Suite 5701, Central Plaza, 18 Harbour Road, Wanchai Hong Kong (Company Licence No. C-006069)

www.colliers.com

852 2822 0701 offices.hongkong@colliers.com

WAN CHAI

HONG KONG ISL AND

Sole Agent

3 Lockhart Road > > > > > > >

Approx. area: 1,080 - 4,604 sq ft gross Landlord’s provisions: Full ceiling systems Newly renovated premises with sea view Column-free design floorplate Close proximity to hotels Close to public transportation Availability: Immediate

WAN CHAI

Typical floor plan (For identification purpose only)

Billy Ng (S-285378)

Sam Gourlay (S-480270)

852 2822 0558 | 852 9145 8148 billy.ng@colliers.com

852 2822 0618 | 852 9100 0307 sam.gourlay@colliers.com

Sole Agent

Hopewell Centre 183 Queen’s Road East > > > >

Surrender space Approx. area: 3,232 sq ft lettable Mountain and city views Fully fitted. Open plan with 2 meeting rooms and 4 manager rooms > Furniture: Negotiable > Competitive rental package > Availability: Negotiable

Ryan Tong (S-322048) 852 2822 0613 | 852 9229 6000 ryan.tong@colliers.com Page 6 | Colliers International | Moving Times

Special Listing

Rare Whole Floor Office Premises for Lease King’s Road > > > > >

> > > >

Approx. area: 17,000 sq ft lettable Panoramic harbour view Fully fitted with high quality fixtures Full sea view Dedicated reception area, 5 conference rooms, 7 manager offices, over 120 workstations, wet pantry and breakout area Raised floor system In-house car parking Competitive rental package Availability: January 2015

QUARRY BAY

HONG KONG ISL AND

Philip Leung (S-468410)

Special Listing

Fully Fitted Law Firm Premises in Core Central Queen’s Road Central

CENTRAL

852 2822 0672 | 852 6117 6065 philip.leung@colliers.com

> Surrender space > High zone > Approx. area: from 8,000 up to whole floor 12,500 sq ft net > Approx. 100% efficiency > Long rent free period will be subsidised > 24-hour zoned central air-conditioning > Direct Central MTR Station access > Connected to the Central walkway network > Availability: To be confirmed

David Wood (S-308367) 852 2822 0694 | 852 9862 1573 david.wood@colliers.com Colliers International | Moving Times | Page 7

CENTRAL

HONG KONG ISL AND

Special Listing

Grade A Office Premises in Core Central Queen’s Road Central > > > > > > >

Approx. area: From 3,452 to 11,224 sq ft lettable High zone Full sea view Fully fitted Raised floor system Competitive rental package Availability: 1Q / 2Q 2015

Office Services - Hong Kong 852 2822 0668 offices.hongkong@colliers.com

QUARRY BAY

Company Licence No: C-006069

Special Listing

Grade A Office Premises for Lease King’s Road > > > > > >

Approx. area: 11,201 sq ft lettable Fully fitted with high quality fixtures Raised floor system In-house car parking Competitive rental package Availability: Negotiable

Billy Ng (S-285378)

Philip Leung (S-468410)

852 2822 0558 | 852 9145 8148 billy.ng@colliers.com

852 2822 0672 | 852 6117 6065 philip.leung@colliers.com

Page 8 | Colliers International | Moving Times

Special Listing

Garden View Office Premises in Core Central Queen’s Road Central

CENTRAL

HONG KONG ISL AND

> Approx. area: 3,630 sq ft lettable > Law firm fit-out > Fully fitted with meeting room, manager room, copying room and wet pantry > Raised floor > Competitive rental package > Availability: 1Q 2015

Office Services - Hong Kong 852 2822 0668 offices.hongkong@colliers.com

Special Listing

Rare Sizeable Premises for Lease in Island East King’s Road > > > > > >

Approx. area: From 10,000 to 50,000 sq ft gross Mid to high zone Open and sea views In-house car parking Competitive rental package Availability: Negotiable

ISLAND EAST

Company Licence No: C-006069

Office Services - Hong Kong 852 2822 0668 offices.hongkong@colliers.com Company Licence No: C-006069

Colliers International | Moving Times | Page 9

CENTRAL / ADMIRALTY

HONG KONG ISL AND

Hot Listings Bank of China Tower 1 Garden Road

AIA Central

1 Connaught Road Central Approx. Area (sq ft) 2,481 - 24,442 (L)

Approx. Area (sq ft) 13,553 - 27,106 (L)

Estimated Effective Rent (HKD psf) $80 - $85

Estimated Effective Rent (HKD psf) $120 - $130

Cheung Kong Center 2 Queen’s Road Central

China Building

29 Queen’s Road Central

Approx. Area (sq ft) 2,950 - 6,653 (L)

Approx. Area (sq ft) 3,421 - 9,439 (G)

Estimated Effective Rent (HKD psf) $120 - $130

Estimated Effective Rent (HKD psf) $65 - $70

Citibank Plaza - Citibank Tower 3 Garden Road

Citibank Plaza - ICBC Tower 3 Garden Road

Approx. Area (sq ft) 1,009 - 34,272 (L)

Approx. Area (sq ft) 954 - 33,507 (L)

Estimated Effective Rent (HKD psf) $65 - $75

Estimated Effective Rent (HKD psf) $65 - $75

CITIC Tower

Entertainment Building 30 Queen’s Road Central

1 Tim Mei Avenue

Approx. Area (sq ft) 3,253 - 18,080 (L)

Approx. Area (sq ft) 2,464 - 4,943 (L)

Estimated Effective Rent (HKD psf) $50 - $60

Estimated Effective Rent (HKD psf) $70 - $75

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Hong Kong

852 2822 0668 offices.hongkong@colliers.com

Page 10 | Colliers International | Moving Times

Hot Listings Hutchison House

Lippo Centre

10 Harcourt Road

89 Queensway Approx. Area (sq ft) 650 - 33,903 (G)

Approx. Area (sq ft) 829 - 5,168 (G)

Estimated Effective Rent (HKD psf) $50 - $65

Estimated Effective Rent (HKD psf) $45 - $62

CENTRAL / ADMIRALTY

HONG KONG ISL AND

Nan Fung Tower

Man Yee Building

60-68 Des Voeux Road Central

84-86 Connaught Road Central

Approx. Area (sq ft) 1,429 - 11,482 (L)

Approx. Area (sq ft) 979 - 8,940 (G)

Estimated Effective Rent (HKD psf) $72 - $75

Estimated Effective Rent (HKD psf) $48 - $53

Nexxus Building

Printing House

77 Des Voeux Road Central

6 Duddell Street Approx. Area (sq ft) 2,724 - 9,971 (L)

Approx. Area (sq ft) 592 - 5,344 (G)

Estimated Effective Rent (HKD psf) $60 - $70

Estimated Effective Rent (HKD psf) $60 - $65

Two International Finance Centre

Prosperity Tower

8 Finance Street

39 Queen’s Road Central Approx. Area (sq ft) 2,379 - 5,442 (G)

Approx. Area (sq ft) 1,569 - 21,637 (L)

Estimated Effective Rent (HKD psf) $65 - $70

Estimated Effective Rent (HKD psf)

$125 - $130

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Hong Kong

852 2822 0668 offices.hongkong@colliers.com

Colliers International | Moving Times | Page 11

SHEUNG WAN

HONG KONG ISL AND

Hot Listings FWD Financial Centre 308 Des Voeux Road Central

Golden Centre

188 Queen’s Road Central

Approx. Area (sq ft) 890 - 24,048 (G)

Approx. Area (sq ft) 1,816 (G)

Estimated Effective Rent (HKD psf) $35 - $36

Grand Millennium Plaza, COSCO Tower 183 Queen’s Road Central

Estimated Effective Rent (HKD psf) $35

One8One Queen’s Road Central 181 Queen’s Road Central

Approx. Area (sq ft) 1,080 - 11,000 (G)

Approx. Area (sq ft) 2,225 - 15,451 (G)

Estimated Effective Rent (HKD psf) $42 - $58

Estimated Effective Rent (HKD psf) $33 - $43

Shun Tak Centre

200 Connaught Road Central

The Center

99 Queen’s Road Central

Approx. Area (sq ft) 1,191 - 19,663 (G)

Approx. Area (sq ft) 1,625 - 25,050 (G)

Estimated Effective Rent (HKD psf) $42 - $55

Estimated Effective Rent (HKD psf) $55 - $73

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Hong Kong

852 2822 0668 offices.hongkong@colliers.com

Page 12 | Colliers International | Moving Times

Hot Listings 248 Queen’s Road East

Allied Kajima Building

Approx. Area (sq ft) 1,970 - 4,304 (G)

Approx. Area (sq ft) 2,470 - 13,752 (G)

Estimated Effective Rent (HKD psf) $33 - $38

Estimated Effective Rent (HKD psf) $36 - $38

Central Plaza

China Resources Building

Approx. Area (sq ft) 903 - 18,907 (L)

Approx. Area (sq ft) 2,496 - 15,471 (L)

Estimated Effective Rent (HKD psf)

$52 - $68

Estimated Effective Rent (HKD psf) $45 - $60

Dah Sing Financial Centre

Harbour Centre

Approx. Area (sq ft) 1,880 - 8,500 (L)

Approx. Area (sq ft) 1,098 - 6,575 (L)

Estimated Effective Rent (HKD psf) $55 - $58

Estimated Effective Rent (HKD psf) $47 - $65

Harcourt House

Hopewell Centre

Approx. Area (sq ft) 1,973 - 3,539 (G)

Approx. Area (sq ft) 1,304 - 7,853 (L)

Estimated Effective Rent (HKD psf) $34 - $40

Estimated Effective Rent (HKD psf) $47 - $55

Shui On Centre

Sun Hung Kai Centre

Approx. Area (sq ft) 879 - 11,501 (G)

Approx. Area (sq ft) 1,034 - 4,898 (L)

Estimated Effective Rent (HKD psf) $40 - $52

Estimated Effective Rent (HKD psf)

248 Queen’s Road East

18 Harbour Road

138 Gloucester Road

WAN CHAI

HONG KONG ISL AND

26 Harbour Road

108 Gloucester Road

39 Gloucester Road

6-8 Harbour Road

25 Harbour Road

183 Queen’s Road East

30 Harbour Road

$55 - $60

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Hong Kong

852 2822 0668 offices.hongkong@colliers.com

Colliers International | Moving Times | Page 13

CAUSEWAY BAY

HONG KONG ISL AND

Hot Listings Causeway Bay Plaza 1 489 Hennessy Road

Sino Plaza

255-257 Gloucester Road

Approx. Area (sq ft) 1,096 - 2,678 (G)

Approx. Area (sq ft) 2,595 - 4,101 (G)

Estimated Effective Rent (HKD psf) $36 - $38

Estimated Effective Rent (HKD psf) $40 - $45

Soundwill Plaza

The Lee Gardens

38 Russell Street

33 Hysan Avenue Approx. Area (sq ft) 1,590 - 7,156 (G)

Approx. Area (sq ft) 15,000 up (L)

Estimated Effective Rent (HKD psf) $43 - $47

Estimated Effective Rent (HKD psf) $45 - $63

Times Square

Top Glory Tower

1 Matheson Street

262 Gloucester Road Approx. Area (sq ft) 1,569 - 39,118 (G)

Approx. Area (sq ft) 1,666 - 6,092 (G)

Estimated Effective Rent (HKD psf) $47 - $55

Estimated Effective Rent (HKD psf) $40 - $46

Windsor House, ACE Tower 311 Gloucester Road

World Trade Centre 280 Gloucester Road

Approx. Area (sq ft) 856 - 19,897 (G)

Approx. Area (sq ft) 1,390 - 12,770 (G)

Estimated Effective Rent (HKD psf) $35 - $40

Estimated Effective Rent (HKD psf) $48 - $52

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Hong Kong

852 2822 0668 offices.hongkong@colliers.com

Page 14 | Colliers International | Moving Times

Hot Listings @Convoy

88 Hing Fat Street

169 Electric Road

88 Hing Fat Street Approx. Area (sq ft) 4,021 - 31,419 (G)

Approx. Area (sq ft) 1,400 - 4,200 (G)

Estimated Effective Rent (HKD psf) $33 - $36

Estimated Effective Rent (HKD psf) $27 - $28

148 Electric Road

ISLAND EAST

HONG KONG ISL AND

633 King’s Road

148 Electric Road

633 King’s Road Approx. Area (sq ft) 1,678 - 8,205 (G)

Approx. Area (sq ft) 7,260 - 10,045 (G)

Estimated Effective Rent (HKD psf) $26 - $27

Estimated Effective Rent (HKD psf) $30 - $38

AIA Tower

Citicorp Centre

183 Electric Road

18 Whitfield Road Approx. Area (sq ft) 1,135 - 11,967 (L)

Approx. Area (sq ft) 2,750 - 4,729 (G)

Estimated Effective Rent (HKD psf) $36 - $42

Estimated Effective Rent (HKD psf) $29 - $33

Prosperity Millennia Plaza 663 King’s Road

Best Building in Island East Island East

Approx. Area (sq ft) 660 - 8,314 (G)

Approx. Area (sq ft) 3,699 - 85,228 (L)

Estimated Effective Rent (HKD psf) $28 - $30

Estimated Effective Rent (HKD psf) $50 - $65

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Hong Kong

852 2822 0668 offices.hongkong@colliers.com

Colliers International | Moving Times | Page 15

HONG KONG ISL AND

Recent Leasing Transactions Building

Approx. Area (sq ft)

Deal Type

Business Nature of Tenant

Monthly Face Rent (HKD psf)

SHEUNG WAN / CENTRAL / ADMIRALTY 33 Des Voeux Road Central

3,400 (G)

New Lease

Medical & Health

$73.00

Admiralty Centre Tower 1

1,700 (G)

New Lease

Transportation & Logistics

$40.00

Central Tower

7,900 (L)

New Lease

Banking & Finance

$83.00

Citibank Plaza, ICBC Tower

1,700 (L)

New Lease

Banking & Finance

$76.00

Far East Finance Centre

1,300 (G)

Renewal

Trading

$48.00

Golden Centre

5,400 (G)

New Lease

Banking & Finance

$36.50

Grand Millennium Plaza, COSCO Tower

1,300 (G)

New Lease

Banking & Finance

$50.00

Grand Millennium Plaza, COSCO Tower

16,400 (G)

Renewal

Natural Resources

$55.00

Grand Millennium Plaza, COSCO Tower

1,200 (G)

New Lease

Real Estate

$47.00

Henley Building

2,700 (L)

New Lease

Banking & Finance

$66.00

Infinitus Plaza

3,400 (G)

New Lease

Banking & Finance

$41.50

LHT Tower

2,600 (L)

New Lease

Banking & Finance

$80.00

Lippo Centre - Tower 1

2,400 (G)

New Lease

Trading

$48.00

Lippo Centre - Tower 2

2,900 (G)

New Lease

Management Consulting

$50.00

Nine Queen's Road Central

5,500 (G)

New Lease

Food & Beverages

$48.00

Nine Queen's Road Central

2,800 (G)

Renewal

Legal

$67.52

One IFC

42,900 (L)

Restructure

Banking & Finance

$130.00

The Center

8,400 (G)

New Lease

I.T.

$60.17

The Center

1,600 (G)

New Lease

Banking & Finance

$58.46

The Centrium

4,200 (G)

New Lease

Consulate General

$45.00

Three Pacific Place

31,300 (L)

New Lease

Banking & Finance

$90.00

Two IFC

9,700 (L)

New Lease

Trading

$162.50

248 Queen's Road East

2,500 (G)

New Lease

Transportation & Logistics

$35.00

248 Queen's Road East

2,400 (G)

New Lease

Banking & Finance

$36.50

WA N C H A I / CAUSEWAY BAY

3 Lockhart Road

4,600 (G)

New Lease

Real Estate

$34.00

3 Lockhart Road

800 (G)

New Lease

Management Consulting

$31.00

3 Lockhart Road

1,500 (G)

New Lease

Accounting

$33.00

Causeway Bay Plaza 1

5,700 (G)

Renewal

Real Estate

$36.00

Central Plaza

10,100 (L)

Renewal

Media

$59.00

Central Plaza

6,600 (L)

Renewal

Banking & Finance

$52.50

Harcourt House

2,700 (L)

New Lease

Management Consulting

$37.00

One Hysan Avenue

3,500 (L)

New Lease

Beauty / Hair / Fitness

$42.00

Ruttonjee Centre, Ruttonjee House

2,100 (G)

Renewal

Banking & Finance

$51.00

Sun Hung Kai Centre

21,700 (L)

Renewal

Medical & Health

$51.50

88 Hing Fat Street

4,200 (G)

New Lease

Metal / Steel

$29.00

AIA Tower

7,000 (G)

New Lease

Transportation & Logistics

$44.50

Prosperity Millennia Plaza

8,300 (G)

New Lease

Transportation & Logistics

$29.10

9,800 (G)

New Lease

Government / Organization

$23.27

I S L A N D E A ST

WO N G C H U K HAN G Global Trade Square

(G) = Gross

(L) = Lettable

(N) = Net

Page 16 | Colliers International | Moving Times

KWAI CHUNG KWUN TONG HUNG HOM MONG KOK SAN PO KONG TSIM SHA TSUI TSUEN WAN

Kowloon

KWUN TONG

KOWLOO N

Sole Agent

Page 18 | Colliers International | Moving Times

KOWLOO N

The Rays

71 Hung To Road > Approx. area: 7,285 - 10.500 sq ft gross > Target completion in Q1 2015 > One of the newest office building in Kowloon East and part of government’s CBD2 initiative > 7 minutes walking distance to Kwun Tong MTR Station

Low Zone Plan (For identification purpose only)

High Zone Plan (For identification purpose only)

Rommel Lau (S-478252)

Ella Lai (S-342139)

852 2822 0765 rommel.lau@colliers.com

852 2822 0758 ella.lai@colliers.com Colliers International | Moving Times | Page 19

Hot Listing

One Harbour Square 181 Hoi Bun Road

COMMON AREAS* H.R.

C.D

LIFT 9

LIFT SHAFT

LIFT 7

LIFT SHAFT

AHU ROOM ACCESSIBLE UNISEX TOILET

P.D

UP

ELV. & E.M.R.

P.D

C.D

LIFT 2

DN.

LIFT LOBBY P.D

P.D

F. LAV.

LIFT SHAFT

P.D

M. LAV.

P.D

UP

LIFT SHAFT

P.D

ELV. & E.M.R.

EXC. LAV. DN.

LIFT 8

LIFT LOBBY

PANTRY

LIFT 10

H.R.

P.D

HOI BUN ROAD

KWUN TONG

KOWLOO N

LIFT 1 P.D

Floor plan (For identification purpose only)

> > > >

Brand new office building Typical floor area: 17,726 - 18,972 sq ft gross Raised floor system with 5 kPa floor loading Mid to high zone units enjoy magnificent views of Victoria Harbour and the Cruise Terminal > High efficiency column-free design > Whole floor units are available, allowing occupiers to fully utlise the corridor spaces > Benefitting from the CBD2 and the Kai Tak Development Project with improved infrastructure and transportation network

Fiona Ngan (E-197789)

Patrick Mak (E-187858)

852 2822 0751 fiona.ngan@colliers.com

852 2822 0752 patrick.mak@colliers.com

Page 20 | Colliers International | Moving Times

Hot Listing

Langham Place 8 Argyle Street > > > >

Approx. area: 17,398 sq ft gross Located in the heat of Mong Kok District On top of a large shopping mall and next to a hotel Good tenancy mix in the building portfolio

MONG KOK KOWLOON BAY

KOWLOO N

Floor plan (For identification purpose only)

Patrick Mak (E-187858)

Hot Listing

Iconic office Building in West Kowloon > > > > > > > > >

Approx. area: 22,115 sq ft gross Sea view Low zone Direct lobby entrance Single occupier floor Fully fitted or bare shell Very competitive rental package Above Airport Express Station Availability: Immediate

WEST KOWLOON KOWLOON BAY

852 2822 0752 patrick.mak@colliers.com

Sam Gourlay (S-480270) 852 2822 0618 | 852 9100 0307 sam.gourlay@colliers.com Colliers International | Moving Times | Page 21

KWAI CHUNG

KOWLOO N

Hot Listing

KC 100

100 Kwai Cheong Road

> > > > > >

Approx. area: 24,000 sq ft gross Target completion in Q1 2015 High standard office building Supported by many F&B 7 minutes walking distance to Kwai Hing MTR Station Green building design

Floor plan (For identification purpose only)

Fiona Ngan (E-197789)

Ella Lai (S-342139)

852 2822 0751 fiona.ngan@colliers.com

852 2822 0758 ella.lai@colliers.com

Page 22 | Colliers International | Moving Times

KOWLOO N

KWAI CHUNG KOWLOON BAY

Hot Listing

The Octagon 6 Sha Tsui Road

The above images shown represent an artist’s impression of the development concerned only, they are not photographs taken on-site. They are not drawn to scale and/or may have been edited and processed with computerised imaging techniques. The above images regarding the environment, views, and interior designs of the development concerned do not represent the actual environment, views and final interior designs. The developer also advises relevant persons to conduct an on-site visit for a better understanding of the development site, its surrounding environment and the public facilities nearby.

> > > >

Grade A office tower with approx. 400,000 sq ft gross Completed in Oct 2014 State-of-the-art specifications Practical floor plate of approx. 15,000 sq ft gross with 2,850 mm clear headroom and 150 mm raised floor > Elegant lobby with all-weather drop-off and the Sky Garden > Generous parking facilities and shuttle services to MTR station provided > An en-bloc ownership by a renowned developer K. Wah Group

Murphy Chung (E-216220)

Ivan Wong (E-241525)

852 2822 0755 murphy.chung@colliers.com

852 2822 0756 ivan.wong@colliers.com

Floor plan (For identification purpose only)

Colliers International | Moving Times | Page 23

KOWLOON BAY

KOWLOO N

Hot Listing

One Kowloon 1 Wang Yuen Street > > > >

Approx. area: 23,000 sq ft gross Grade A office specification Excellent tenancy mix within the portfolio Next to large shopping mall “MegaBox�

KWUN TONG

Floor plan (For identification purpose only)

Fiona Ngan (E-197789)

Steve Ng (E-188091)

852 2822 0751 fiona.ngan@colliers.com

852 2822 0753 steve.ng@colliers.com

Hot Listing

KOHO

108 Wai Yip Street > Approx. area: 16,151 - 24,545 sq ft gross > Revitalized office building > 7 minutes walking distance to Kwun Tong MTR Station

Floor plan (For identification purpose only)

Floor plan (For identification purpose only)

Patrick Mak (E-187858)

Steve Ng (E-188091)

852 2822 0752 patrick.mak@colliers.com

852 2822 0753 steve.ng@colliers.com

Page 24 | Colliers International | Moving Times

Jonathan Chan (S-467510) 852 2822 0762 jonathan.chan@colliers.com

Sole Agent

Hongkong Offshore Centre 28 Austin Avenue > > > >

Approx. area: 850 sq ft gross Serviced office One tenant per floor Supported with on demand meeting rooms

TSIM SHA TSUI KOWLOON BAY

KOWLOO N

Floor plan (For identification purpose only)

Simon Yu (S-414452)

Jonathan Liu (E-328848)

852 2822 0759 simon.yu@colliers.com

852 2822 0760 jonathan.liu@colliers.com

Miramar Tower 1-23 Kimberley Road > > > >

Approx. area: 6,600 sq ft gross Fully fitted with typical office furniture Overlooking Kowloon Park On top of a large shopping mall and next to a hotel

Floor plan (For identification purpose only)

Simon Yu (S-414452)

Jonathan Liu (E-328848)

852 2822 0759 simon.yu@colliers.com

852 2822 0760 jonathan.liu@colliers.com Colliers International | Moving Times | Page 25

KWUN TONG

KWUN TONG

KOWLOO N

Joint Sole Agent

Nanyang Plaza 57 Hung To Road > > > >

Approx. area: 1,700 - 5,100 sq ft gross High quality industrial / office building 7 minutes walking distance to Kwun Tong MTR Station Supported by many F&B and banking facilities nearby

Jonathan Chan (S-467510)

Jerry Tam (S-235750)

852 2822 0762 jonathan.chan@colliers.com

852 2822 0763 jerry.tam@colliers.com

Hot Listing

Capella HTR 47 Hung To Road > > > >

Approx. area: 3,300 - 7,000 sq ft gross Column free design, efficient layout 8 minutes walking distance to Kwun Tong MTR Station Newly renovated public areas

Floor plan (For identification purpose only)

Fiona Ngan (E-197789)

Wang Cheung (E-242098)

852 2822 0751 fiona.ngan@colliers.com

852 2822 0757 wang.cheung@colliers.com

Page 26 | Colliers International | Moving Times

Kowloon Commerce Centre Tower 2 51 Kwai Cheong Road

> Approx. area: 13,000 - 52,600 sq ft gross > The first green office building in Hong Kong registered under LEED certification > Covered bridge directly linked to the platform of Kwai Hing MTR Station > Good tenancy mix in the building portfolio > Large typical floor plate

Otto Hui (S-467500)

Rose Tam

852 2822 0761 otto.hui@colliers.com

852 2822 0764 rose.tam@colliers.com

Hot Listing

AXA Tower / AIA Kowloon Tower 100 How Ming Street > > > > >

Approx. area: 4,000 - 27,000 sq ft gross Modern Grade A office specifications 6 minutes walking distance to Kwun Tong MTR Station Nice seaview Both bare shell and fitted out units are available in this building

Steve Ng (E-188091)

Ivan Wong (E-241525)

852 2822 0753 steve.ng@colliers.com

852 2822 0756 ivan.wong@colliers.com

KWUN TONG KOWLOON BAY

Hot Listing

KWAI CHUNG KOWLOON BAY

KOWLOO N

Colliers International | Moving Times | Page 27

KOWLOON BAY

Hot Listing

Manhattan Place 23 Wang Tai Road > > > > >

Approx. area: 12,500 - 16,850 sq ft gross Panoramic seaview Next to the large shopping mall “MegaBox” Grade A office building in Kowloon Bay Good tenancy mix in its portfolio

Ivan Wong (E-241525)

Wang Cheung (E-242098)

852 2822 0756 ivan.wong@colliers.com

852 2822 0757 wang.cheung@colliers.com

YHC Tower 1 Sheung Yuet Road > > > >

Approx. area: 1,305 - 12,528 sq ft gross Brand new Grade A office in Kowloon Bay Panoramic seaview Next to the shopping mall ”MegaBox” & ”E-Max”

Ivan Wong (E-241525)

Jonathan Chan (S-467510)

852 2822 0756 ivan.wong@colliers.com

852 2822 0762 jonathan.chan@colliers.com

Page 28 | Colliers International | Moving Times

Hot Listing

8 Observatory Road > > > >

Approx. area: 5,425 - 13,565 sq ft gross Only new supply in TST market in 2015 Joint development by Lai Sun & Henderson 5 minutes away from MTR station

TSIM SHA TSUI KOWLOON BAY

KOWLOO N

Patrick Mak (E-187858)

Winson Lam (E-167195)

852 2822 0752 patrick.mak@colliers.com

852 2822 0754 winson.lam@colliers.com

Hot Listing

Prosperity Place 6 Shing Yip Street > > > >

Approx. area: 700 - 10,000 sq ft gross Recently renovated lift lobbies Porfolio Landlord 3 minutes away from MTR Station

KWUN TONG KOWLOON BAY

Floor plan (For identification purpose only)

Floor plan (For identification purpose only)

Jerry Tam (S-235750)

Jonathan Chan (S-467510)

852 2822 0763 jerry.tam@colliers.com

852 2822 0762 jonathan.chan@colliers.com

Colliers International | Moving Times | Page 29

KOWLOON EAST

KOWLOO N

Hot Listings Listing 9 Chong Yip Street

9 Chong Yip Street, Kwun Tong

APEC Plaza

49 Hoi Yuen Road, Kwun Tong

Approx. Area (sq ft) 1,400 - 1,900

Approx. Area (sq ft) 800 - 1,900

Estimated Effective Rent (HKD psf) $19 - $21

Estimated Effective Rent (HKD psf) $15 - $16

Kin Sang Commercial Centre 49 King Yip Street, Kwun Tong

Lu Plaza

2 Wing Yip Street, Kwun Tong

Approx. Area (sq ft) 800 - 6,300

Approx. Area (sq ft) 1,800 - 23,000

Estimated Effective Rent (HKD psf) $20 - $24

Estimated Effective Rent (HKD psf) $16- $18

Manulife Financial Centre 223-231 Wai Yip Street, Kwun Tong

Millennium City 1

388 Kwun Tong Road, Kwun Tong

Approx. Area (sq ft) 1,700 - 10,500

Approx. Area (sq ft) 800 - 21,500

Estimated Effective Rent (HKD psf) $26 - $29

Estimated Effective Rent (HKD psf) $28 - $32

Millennium City 2

378 Kwun Tong Road, Kwun Tong

Millennium City 5

418 Kwun Tong Road, Kwun Tong

Approx. Area (sq ft) 1,000 - 4,000

Approx. Area (sq ft) 3,300 - 18,000

Estimated Effective Rent (HKD psf) $26 - $27

Estimated Effective Rent (HKD psf) $33 - $36

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Kowloon

852 2822 0722 offices.kowloon@colliers.com

Page 30 | Colliers International | Moving Times

Hot Listings Rykadan Capital Tower

The Mark

Approx. Area (sq ft) 20,000 - 27,000

Approx. Area (sq ft) 1,594 - 12,195

Approx. Area (sq ft) 3,563

Estimated Effective Rent (HKD psf) $20 - $22

Estimated Effective Rent (HKD psf) $21 - 23

Estimated Effective Rent (HKD psf) $18 - $20

Wong Tze Building

South Asia Commercial Centre

Enterprise Square 1

Approx. Area (sq ft) 1,900 - 7,200

Approx. Area (sq ft) 1,000 - 10,300

Approx. Area (sq ft) 3,000 - 28,000

Estimated Effective Rent (HKD psf) $18 - $20

Estimated Effective Rent (HKD psf) Subject to offer

Estimated Effective Rent (HKD psf) $19.5 - $20

Enterprise Square 3

Exchange Tower

Skyline Tower

Approx. Area (sq ft) 2,200 - 16,100

Approx. Area (sq ft) 600 - 26,700

Approx. Area (sq ft) 1,200 - 17,200

Estimated Effective Rent (HKD psf) $25 - $30

Estimated Effective Rent (HKD psf) $27 - $30

Estimated Effective Rent (HKD psf) $22 - $25

Pioneer Place

213 Wai Yip Street, Kwun Tong

71 Hoi Yuen Road, Kwun Tong

135 Hoi Bun Road, Kwun Tong

164 Wai Yip Street, Kwun Tong

KOWLOON EAST

KOWLOO N

9 Sheung Yuet Road, Kowloon Bay

64 Tsun Yip Street, Kwun Tong

39 Wang Chiu Road, Kowloon Bay

33 Wang Chiu Road, Kowloon Bay

39 Wang Kwong Road, Kowloon Bay

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Kowloon

852 2822 0722 offices.kowloon@colliers.com

Colliers International | Moving Times | Page 31

TSIM SHA TSUI

KOWLOO N

Hot Listings 10 Knutsford Terrace

China Hong Kong City

Chinachem Golden Plaza

33 Canton Road

77 Mody Road

Approx. Area (sq ft) 687 - 4,145

Approx. Area (sq ft) 1,000 - 8,000

Approx. Area (sq ft) 1,300 - 20,000

Estimated Effective Rent (HKD psf) $26 - $28

Estimated Effective Rent (HKD psf) $28 - $31

Estimated Effective Rent (HKD psf) $28 - $29

South Sea Centre

Miramar Tower

The Gateway Tower 1

Approx. Area (sq ft) 2,600 - 12,000

Approx. Area (sq ft) 900 - 14,000

Approx. Area (sq ft) 1,100 - 15,900

Estimated Effective Rent (HKD psf) $29 - $32

Estimated Effective Rent (HKD psf) $40 - $45

Estimated Effective Rent (HKD psf) $38 - $48

The Gateway Tower 2

The Gateway Tower 6

Ocean Centre

9 Canton Road

5 Canton Road

Approx. Area (sq ft) 1,000 - 18,000

Approx. Area (sq ft) 1,400 - 25,000

Approx. Area (sq ft) 600 - 16,000

Estimated Effective Rent (HKD psf) $38 - $48

Estimated Effective Rent (HKD psf) $48 - $57

Estimated Effective Rent (HKD psf) $36 - $42

10 Knutsford Terrace

75 Mody Road

25 Canton

1-23 Kimberley Road

25 Canton Road

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Kowloon

852 2822 0722 offices.kowloon@colliers.com

Page 32 | Colliers International | Moving Times

Hot Listings Trade Square

Billion Plaza II

Cheung Sha Wan Plaza

Approx. Area (sq ft) 1,800 - 43,000

Approx. Area (sq ft) 348 - 11,600

Approx. Area (sq ft) 1,100 - 12,500

Estimated Effective Rent (HKD psf) $21- $23

Estimated Effective Rent (HKD psf) $23 - $25

Estimated Effective Rent (HKD psf) $18 - $20

Laford Centre

Saxon Tower

ATL Logistic Centre

Approx. Area (sq ft) 570 - 8,700

Approx. Area (sq ft) 550 - 8,000

Approx. Area (sq ft) 5,800 - 15,300

Estimated Effective Rent (HKD psf) $16 - $18

Estimated Effective Rent (HKD psf) $21 - $24

Estimated Effective Rent (HKD psf) $12 - $13

Ever Gain Plaza

Manhattan Centre

Metroplaza Tower 1

Approx. Area (sq ft) 1,700 - 10,800

Approx. Area (sq ft) 8,900 - 15,800

Approx. Area (sq ft) 1,400 - 15,300

Estimated Effective Rent (HKD psf) $16 - $18

Estimated Effective Rent (HKD psf) $15 - $16

Estimated Effective Rent (HKD psf) $29 - $30

681 Cheung Sha Wan Road, Cheung Sha Wan

838 Lai Chi Kok Road, Cheung Sha Wan

8 Cheung Yue Street, Cheung Sha Wan

7 Cheung Shun Street, Cheung Sha Wan

88 Container Port Road, Kwai Chung

8 Kwai Cheong Road, Kwai Chung

833 Cheung Sha Wan Road, Cheung Sha Wan

KOWLOON WEST

KOWLOO N

Container Terminal 3, Kwai Chung

223 Hing Fong Road, Kwai Chung

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Kowloon

852 2822 0722 offices.kowloon@colliers.com

Colliers International | Moving Times | Page 33

OTHERS

KOWLOO N

Hot Listings The Metropolis Tower

10 Metropolis Drive, Hung Hom

The Harbourfront Towers 18-22 Tak Fung Street, Hung Hom

Approx. Area (sq ft) 1,200 - 11,000

Approx. Area (sq ft) 2,000 - 20,000

Estimated Effective Rent (HKD psf) $33 - $37

Estimated Effective Rent (HKD psf) $27 - $32

Park-In Commercial Centre 56 Dundas Street, Mong Kok

Skyway House

3 Sham Mong Road, Tai Kok Tsui

Approx. Area (sq ft) 400 - 10,300

Approx. Area (sq ft) 500 - 11,500

Estimated Effective Rent (HKD psf) $26 - $28

Estimated Effective Rent (HKD psf) $18 - $19

Delta House

Grand Central Plaza

3 On Yiu Street, Sha Tin

138 Sha Tin Rural Committee Road, Sha Tin Approx. Area (sq ft) 700 - 16,800

Approx. Area (sq ft) 1,200 - 7,600

Estimated Effective Rent (HKD psf) $18

Estimated Effective Rent (HKD psf) $30 - $32

HK Science Park Phase III Pak Shek Kok, New Territories

Landmark North

39 Lung Sum Avenue, Sheung Shui

Approx. Area (sq ft) 33,610

Approx. Area (sq ft) 700 - 8,200

Estimated Effective Rent (HKD psf) $17 - $18

Estimated Effective Rent (HKD psf) $23 - $25

Estimated effective rent (HK$ per sq ft) is calculated by deducting incentives for a 36-month term from the face rental and is NOT the landlord’s quoted figure.

(G) = Gross

(L) = Lettable

(N) = Net

Office Services - Kowloon

852 2822 0722 offices.kowloon@colliers.com

Page 34 | Colliers International | Moving Times

KOWLOO N

Recent Leasing Transactions Building

Approx. Area (sq ft)

Deal Type

Business Nature of Tenant

Monthly Effective Rent (HKD psf)

The Gateway Tower 6

11,346 (G)

New Letting

Others

$46.50

Tsimshatsui Centre

1,042 (G)

New Letting

Others

$38.00

The Gateway Prudential Tower

2,459 (G)

New Letting

Others

$41.00

Miramar Tower

2,232 (G)

New Letting

Others

$48.00

Energy Plaza

12,427 (G)

New Letting

Others

$26.00

AIA Kowloon Tower

46,503 (G)

New Letting

Others

$26.00

Kin Sang Commercial Centre

4,459 (G)

New Letting

Shipping / Logistics

$19.30

Lu Plaza

9,960 (G)

Renewal

Consumer Products

$19.30

Millennium City 1 SC Tower

40,617 (G)

New Letting

Sourcing

$24.00

Octa Tower

35,500 (G)

New Letting

Construction / Engineering

$18.00

909 Cheung Sha Wan Road

12,699 (G)

New Letting

Others

$22.00

Kowloon Commerce Centre Tower A

23,561 (G)

Renewal

Consumer Products

$29.20

Manhattan Centre

6,655 (G)

New Letting

Others

$14.50

Trade Square

2,960 (G)

New Letting

Others

$20.00

Cheung Sha Wan Plaza 2

5,605 (G)

Renewal

Shipping / Logistics

$21.00

11,564 (G)

Renewal

Others

$29.50

Grand Century Place Tower 1

6,683 (G)

New Letting

IT & T

$34.50

Langham Place

17,398 (G)

New Letting

Consumer Products

$38.00

Skyway House

7,918 (G)

Renewal

Others

$14.50

TSIM SHA TSUI

KOWLOON EAST

KOWLOON WEST

HUNG HOM The Harbourfront Tower 2 MONG KOK

(G) = Gross

(L) = Lettable

(N) = Net

Colliers International | Moving Times | Page 35

COLLIERS INTERNATIONAL | MARKE T OVERVIEW

Further tightening in secondary stock Despite lackluster demand from global occupiers against a general backdrop of cost-cutting, overall Grade A net absorption increased by 352,000 sq ft quarter-on-quarter (QoQ) during 3Q 2014. In fact, all major sub-markets recorded positive net take-up, especially in the sub-markets of Central/Admiralty and Kowloon East with a positive net-take up of 104,800 sq ft QoQ and 131,400 sq ft QoQ respectively.

Grade A Office Net Take-up 1,500,000

500,000

0

-500,000

1Q 2007 2Q 2007 3Q 2007 4Q 2007 1Q 2008 2Q 2008 3Q 2008 4Q 2008 1Q 2009 2Q 2009 3Q 2009 4Q 2009 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014

Net Floor Area (sq ft)

1,000,000

Colliers View In Central, demand was mainly underpinned by new leasing enquiries from mainland financial firms while Kowloon East continued to benefit from increased demand as tenants look for cost saving alternatives. The Hong Kong overall vacancy rate recorded a record low of 4% in August 2014 which supports relatively stable leasing rates for the rest of the year.

-1,000,000

Source: Colliers

Colliers View

Finding space remains a challenge Looking rental rates, overall Grade A office rents stabilised during 3Q 2014 with all districts experiencing flat to mild rental growth of 2% QoQ. The main factor behind the flat rental market is that most tenants are expected to remain in situ upon lease expiry. Low vacancy rates, and the lack of new supply continue to make relocating a challenge for occupiers. Overall, our research suggests that Grade A office rentals will remain flat, seeing a nominal growth of 0.6% in 2014 and a further 2.7% in 2015.

Page 36 | Colliers International | Moving Times

With the ongoing tight supply situation, tenants are opting to renew leases rather than relocate, focusing more on maximising efficiencies in terms of costs and space planning.

Looking forward, Central rents are expected to remain firm, with relocation costs rising and office space of 10,000 sq ft or above increasingly difficult to find. Aside from that, most sub-markets on Hong Kong Island may see a 4-5% growth amid low vacancy rates and a shortage of new supply in the pipeline. In contrast, landlords in Kowloon East continued to face intense competition for tenants as lower grade offices and industrial revitalisation buildings have become alternatives for cost-conscious tenants, causing downward pressure on office rents.

COLLIERS INTERNATIONAL | MARKE T OVERVIEW

Mainland corporates remain the primary driver Leasing activity in Central continues to be dominated by mainland financial institutions with space requirements ranging from 10,000 to 100,000 sq ft as they establish trading and settlement facilities ahead of the launch of the ShanghaiHong Kong Stock Connect. With trading volumes gathering momentum, new enquiries have also started to come in from second-tier financial institutions.

Colliers View

Hong Kong Grade A Rents in Central

Jan-15

Jan-13

Jan-14

Jan-11

Jan-12

Jan-07

-100%

Jan-10

0%

-50%

Jan-09

25%

0% Jan-08

50%

50% Jan-05

75%

100%

Jan-06

100%

150%

Jan-03

125%

200%

Jan-04

150%

250%

Jan-01

175%

Jan-02

350% 300%

-25% -50%

Central Office Rent (% YoY)

Stock Market Turnover (% YoY) - (6-month lead)

Central Office Rent (% change year-on-year)

400%

200%

Jan-00

Hong Kong Stock Market Monthly Volume (% change year-on-year)

(vs Stock market turnover)

Source: Colliers;Hong Kong Stock Exchange

With vacancy rates in Central tightening from 5% at the start of the year to around 4% at August 2014, landlords are not facing high pressure to retain tenants. Based on our correlation analysis between the Hong Kong stock market volume turnover and Central office rents, Colliers believe that a rising average daily trading turnover from HK$62.2 billion in the first half of the year to HK$75.1 billion in September 2014, aided by the upcoming Hong Kong-Shanghai Stock Connect, office rents in Central have stabilised and will likely sustain, with a slight positive growth of 5% on a year-onyear basis. The correlation analysis is based on the basic fact that financial services tenants occupy the majority of Grade A office stock in Central.

Buyers shift from investors to owner-occupiers Transaction activity remained slow on a year-on-year basis with the government’s restrictive measures still in place. Nevertheless, a notable transaction recorded during the quarter was the acquisition of Fook Lee Commercial Centre at 33 Lockhart Road in Wan Chai by Asia Standard International Group for HK$1.11 billion or HK$13,785 per sq ft (on gross floor area). We have observed an increasing number of tenants opting to purchase their own premises. For example, in the strata-title sales market, the new office building W50 was launched for sale in Wong Chuk Hang with all premises sold in the range of HK$11,300 – HK$22,700 per sq ft (on gross floor area). In 3Q 2014, the total value of office sales transactions above HK$30 million reached HK$5.5 billion, which is 13% below its long-term average level of HK$6.4 billion per quarter (2004-2013).

Colliers View

Hong Kong Office Investment Sales Transactions 15 10

Historical Average: HK$6.4 billion

5

Note: Investment sales transactions with lump sums of HK$30 million or above

1Q 2014

3Q 2014

1Q 2013

3Q 2013

3Q 2012

3Q 2011

1Q 2012

1Q 2011

3Q 2010

1Q 2010

3Q 2009

1Q 2009

3Q 2008

1Q 2008

1Q 2007

3Q 2007

1Q 2006

3Q 2006

3Q 2005

1Q 2005

1Q 2004

0 3Q 2004

Total Turnover (HK$ billion)

20

With large occupiers seeking to consolidate their operations under one roof and looking at alternative corporate real estate strategies, there is a growing enthusiasm amongst owner occupiers to purchase rather than lease and relocate every few years. This is driven by the lack of large, contiguous space available for lease and the increasing fit-out and relocation costs. Looking forward, investment yields are expected to edge up slightly by 5 basis points and likely continue to hover around 3% in the coming quarters considering that the US may start to raise Fed Funds rate in 2015 and the slow pace of rental growth.

Colliers International | Moving Times | Page 37

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Office Services - Hong Kong 5701 Central Plaza, 18 Harbour Road Wanchai Hong Kong Tel: 852 2822 0668 Fax: 852 2869 4082 Email: offices.hongkong@colliers.com

www.colliers.com

Office Services - Kowloon Unit 6, 16/F BEA Tower, Millennium City 5 418 Kwun Tong Road, Kwun Tong Kowloon Tel: 852 2822 0722 Fax: 852 2117 3311 Email: offices.kowloon@colliers.com