Swire Properties yesterday began marketing its new office building at Festival Walk in Kowloon Tong and said it hoped to make $92.4 million a year in rent from the four floors.
Festival Walk, a 1.25 million square foot office and retail development above the MTR and KCR interchange, is scheduled to open in the second quarter of 1998.
Swire Properties director and general manager Jolyon Culbertson said the 220,000 square foot building would be put out for rent at $35 per square foot.
He said the strength of the building was the 52,000 square feet floor plate on each of its levels - the largest of any Grade A office building in Hong Kong. The floors each have raised flooring and contain a central atrium.
Mr Culbertson said a number of multi-national companies had already approached Swire but none had yet signed an agreement.
The Festival Walk development, a 50-50 joint venture between Swire and Citic Pacific, also contains a one million square foot shopping mall with 250 retail outlets, an 11-screen cinema and an ice skating rink.