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CASE STUDY: Enterprise Square Three

CBRE was appointed by the landlord to dispose of The Property within a very short time frame.

Key Information

Client

Seller: CN listed Company
Buyer: Hong Kong Active Investor

Location

28/F, Enterprise Square, 39 Wang Chiu Road, Kowloon Bay, Hong Kong

Consideration & Size

Consideration : HK$143,000,000
Size: 16,100 SF approx. (GFA)

The Challenge


CBRE was appointed by the landlord to dispose of The Property within a very short time frame. Marketed at a competitive asking price, the property attracted a lot of attention from investors. Consequently, the CBRE team needed to act quickly to identify potential buyers and conduct due diligence to secure this sale opportunity. With the property’s nature of a whole floor office encompassing 7 units, the project team quickly formulated a sales strategy and advised a potential buyer on the holding structure and investment angle for the property.

Solution & Outcome


Solution

With CBRE’s track record and professional services in investment sales and the team’s extensive market knowledge, the Project Team successfully identified an experienced investor who is confident in Hong Kong’s office market. Leveraging on our local knowledge and by offering out-of-the-box solutions, the team proposed a sound investment plan with a combination of mixed deal structures to the potential buyer. By managing the Vendor through working together with the Guangzhou team and the Buyer’s relationship, the negotiation process was handled seamlessly, and the transaction was completed in a mere 10 days.

 

Outcome

The Project Team members successfully highlighted that office space of comparable quality and floor plate at the advised price was very limited in the neighborhood and showcased the strata-sale & value-add potential to the investor. At last, an asset deal structure was agreed with both the Vendor and Purchaser. This is the first investment the seasoned commercial real estate investor had purchased In the past decade, suggesting the competitiveness of Enterprise Square Three as well as the potential of Kowloon East in the long-run.

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