耗资29亿元 丰树产业购港商业地产

龚慧婷　(2011-07-30)

　　丰树产业（Mapletree Investment）以188亿港元（29亿新元），向香港集团企业太古（Swire Pacific）收购其旗下的九龙塘大型购物商场和办公楼综合项目“又一城”（Festival Walk）。

丰树有意推出以香港为焦点基金

　　丰树产业昨天发表文告说，这是丰树在香港买下的第一个商业房地产项目，它将成为其香港商业资产组合的“种子资产”（seed asset）。丰树有意在接下的两、三年，成立一个以香港为焦点的基金。

　　丰树产业总裁邱运康指出，集团会继续为这个新基金寻觅在香港商业、零售和办公楼市场的投资机会。

　　丰树是与其他机构投资者一起买下又一城。

　　上个月底也有传闻指，丰树打算以220亿港元（35亿新元）的价格，收购又一城。昨天公布的实际买价就比传闻中的价格低。

又一城建于1998年，位于九龙塘，购物商场占七层楼，办公楼占四层楼。（丰树产业提供）

　　根据路透社的数据，这将是亚太区今年（到目前为止）第三大房地产收购活动。

　　又一城建于1998年建成，位于九龙塘，购物商场占七层楼，办公楼占四层楼，属于甲级办公楼，租户包括及澳盛银行（ANZ）和保诚保险（Prudential Assurance）。

　　又一城的总建筑楼面超过120万平方英尺。目前的零售商场租户有220个，办公楼租户有五个，总租用率达100％，停车场有830个停车位。

　　它靠近香港城市大学，也面向庞大的中国游客市场。

　　去年，到这个购物商场的消费者达到近4000万人次。商场内的国际品牌包括：H&M、I.T.、UNIQLO、Toys” R” Us、Marc by Marc Jacobs、Escada和Chanel等。

　　邱运康指出，这项收购对丰树来说是一个重要的里程碑，让丰树和其一起注资的伙伴，能顺利打进香港的零售房地产市场。

　　由于又一城已100％租出去，当交易完成后，就能马上为集团和其伙伴带来良好和稳定的回报。交易估计会在8月底完成。

　　他表示，又一城的零售租金收入逐年增加，也显示这个商场的素质。邱运康很有信心，在未来，这个势头能持续下去。

　　他透露，集团也打算寻找合适的资产提升机会，为这个商场进一步增值。

　　在六年前，丰树通过了其物流房地产业务打进香港市场。随着收购又一城，进一步拓展了在香港的足迹，并进一步扩大在亚洲主要市场的版图。

　　新的收购项目也让丰树所管理的资产总额上涨了19.5％，达到178亿元，其中41％是海外资产。丰树产业是淡马锡控股独资拥有的子公司。

　　太古表示，脱售这项资产，将能让太古占据有利位置，来继续进行其主要的投资活动。除了房地产，太古的其他产业还包括航空和船运业务。

　　根据世邦魏理仕6月份的一份房地产报告，香港是继纽约之后最昂贵的零售市场，其第一季的租金增加了46％。

　　据摩根大通（JP Morgan）的一份研究报告，又一城能提供的回报率低于5％。

　　其分析师认为，太古选择现在脱售这个非核心资产，是很好的时机，因为他认为，这能协助太古减轻需融资的压力。

　　据了解，太古将从售卖又一城的交易中，获得16亿3000万港元的盈利。

 

《联合早报》

Mapletree buys HK’s Festival Walk property for S$2.9b
July 29, 2011

Mapletree Investments has acquired a major retail and commercial complex in Hong Kong for HK$18.8 billion or about S$2.9 billion.

Mapletree, a wholly-owned property arm of investment company Temasek Holdings, said it is buying Festival Walk – located in Kowloon Tong on the Kowloon peninsula – from Swire Properties.

Festival Walk has a seven-storey shopping mall and a Grade-A office tower with a gross floor area of about 1.2 million square feet.

It is the Mapletree’s first commercial property purchase in Hong Kong, the company said in a statement.

The property will be a seed asset, forming part of a commercial property portfolio the company plans to build, under its Hong Kong-focused fund over the next two or three years.

Mapletree is buying the property together with other institutional investors as capital partners.

Mapletree group chief executive officer Hiew Yoon Khong said: “Given that Festival Walk is 100 per cent occupied with good quality tenants, upon completion, it will immediately provide good and stable returns to us and our capital partners.

“What is especially attractive about this asset is that the rental income has increased consistently year-on-year since inception, reflecting the quality of the mall.”

Festival Walk’s retail tenants include international brands H&M, UNIQLO, Toys “R” Us, Chanel, and Marks and Spencer, while office tenants include multinational corporations such as ANZ Bank and Prudential Assurance.

Mr Hiew said the acquisition reinforces the company’s strategy to scale up in key Asian markets.

“With this latest purchase, Mapletree’s total assets under management will grow a further 19.5% to about S$17.8 billion, of which 41% of it is constituted by overseas assets,” he added.

The company expects to complete the deal by end-August.

Source : Channel NewsAsia – 29 Jul 2011

FCT to acquire Bedok Point for S$127m

 

  July 29, 2011

Frasers Centrepoint Trust (FCT) will be acquiring Bedok Point from Woodlands Complex for S$127 million.

Woodlands Complex is a wholly owned subsidiary of Frasers Centrepoint Limited.

Frasers Centrepoint Limited is a subsidiary of Fraser & Neave Limited (F&N).

In statement released Thursday, F&N said the divestment is in line with its strategy of unlocking value from its commercial properties at the appropriate time to recycle value. It added that the net proceeds will be re-invested.

According to trust manager Frasers Centrepoint Asset Management (FCAM), it is in the process of determining an optimal debt and equity financing plan for the acquisition.

In a filing to the Singapore Exchange, it said “debt financing is expected to be in the form of a drawdown from loan facilities available to FCT while equity financing is expected to be in the form of a private placement”.

Bedok Point has a net lettable area of 80,985 square feet and an occupancy rate of 97.4 per cent. It will become the fifth mall in FCT’s portfolio.

“With this acquisition, the asset size of our portfolio is expected to grow to S$1.66 billion from S$1.53 billion,” said FCAM CEO Chew Tuan Chiong.

“In addition to the benefits from income diversification, a larger market share of the suburban retail mall market and an enlarged tenant base, our unitholders can expect to enjoy higher distribution per unit from this yield-accretive acquisition.”

The acquisition was negotiated on an arm’s length basis between FCAM and Frasers Centrepoint Limited’s wholly-owned subsidiary, Woodlands Complex. The purchase consideration is the average of two valuations by independent valuers Knight Frank and Jones Lang LaSalle Property Consultants.

At a media briefing, Mr Chew said the acquisition was timed in order to “wait for the new mall to stabilise”.

Bedok Mall was soft launched last December.

Source : Channel NewsAsia – 29 Jul 2011