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Hong Kong Office

17 Nov 2023

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SFC pays HKD5.4 billion to Swire Properties for 12 floors at One Island East

Swire Properties has reached an agreement to sell 12 floors of office space at One Island East to the Securities and Futures Commission (SFC) for a consideration of HKD5.4 billion. As part of its plan to cut rental costs by securing a permanent home, the market regulator decided to add three floors to the nine floors it currently occupies at One Island East, bringing the total occupied area to approximately 296,000 sq ft. According to adviser JLL, the deal represents the largest end-user office transaction in Hong Kong since 2019. The acquisition of the nine floors currently occupied by SFC would take effect in December 2023, while the deal for the other three floors would be completed by 2028.

Swire Properties is expected to record an underlying profit of approximately HKD4.362 billion from the sale. The Company considers One Island East as the Group’s core asset in the Taikoo Place portfolio and has no plans to dispose any additional core assets.

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AAStocks

17 Nov 2023

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am730

17 Nov 2023

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Bastille Post

17 Nov 2023

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Bloomberg

17 Nov 2023

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HK01

17 Nov 2023

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Hong Kong Economic Times

17 Nov 2023

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Hong Kong Economic Times

17 Nov 2023

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Now Finance

17 Nov 2023

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TVB News

17 Nov 2023

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Headline Daily

18 Nov 2023

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Hong Kong Economic Journal

18 Nov 2023

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Hong Kong Economic Times

18 Nov 2023

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Hong Kong Economic Times

18 Nov 2023

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Ming Pao Daily

18 Nov 2023

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Oriental Daily News

18 Nov 2023

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SCMP BIZ

18 Nov 2023

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Sing Pao

18 Nov 2023

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Sing Tao Daily

18 Nov 2023

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Ta Kung Pao

18 Nov 2023

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Wen Wei Po

18 Nov 2023

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Hong Kong Economic Times

20 Dec 2023