Project Details
Instructing Party: Ascena Global
Purchaser: A Hong Kong Investor
Location: Whole Floor on 6/F & 25/F with 7 CPS No. 38 Kwai Hei Street, Kwai Chung
Consideration: HK$102,200,000
Size: 28,123 SF approx. (GFA)
Background
The Vendor allowed CBRE Hong Kong Team (Capital Markets Team and A&T Industrial and Logistics Services Team) a short time frame to dispose the subject property at a desirable price. They were a motivated seller and looking to dispose the property with earliest availability, hence their asking price is more flexible under market average.
The Challenges
The Purchaser is a local investor who purchase the subject property for investment. However, the subject property is to be sold with vacant possession which CBRE Hong Kong Team had put a lot of effort on advising the leasing market in the future. Also, the act of speed as well as the market competitions from other agencies were the main challenges. The deal was being promoted in the market immediately after lowering of the asking price by the Vendor. CBRE Hong Kong Team needed to quickly formulate a sales strategy based on the changes and then market to potential buyers.
How we created advantage
By introduction of CBRE US Team, CBRE Hong Kong Team won the exclusive mandate for execution of the sale.. CBRE Hong Kong Team quickly arranged a private EOI and end up brought 4 bidders which create competitive atmosphere. CBRE Hong Kong team has established excellent relationship with Purchaser with our last deal with them in 2021. Our localized real estate knowledge help Purchaser to make quick decision on their investment . CBRE also offer professional one stop services of leasing advisory and project management mandates to client, which shows our unparallel and industry-leading services to client.
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