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Centre of attraction for agents

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SCMP Reporter

Cheung Kong (Holdings) will appoint up to four agents to handle the leasing and sale of the Centre, a 1.6 million square feet office and retail complex developed jointly with the Land Development Corp in Sheung Wan.

While Cheung Kong has not named the agencies, Jones Lang Wootton and First Pacific Davies are widely touted as having the edge on marketing the 73-floor tower.

Agents said Cheung Kong was considering selling the first 39 floors and leasing the remainder.

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They said leasing activity 'would start immediately' because of the large amount of new space available over the next six to eight months.

Two of the biggest projects - each with more than one million square feet of office space - are Cheung Kong's Hilton Hotel redevelopment and the southwest tower of the Hong Kong Station, being built by the Mass Transit Railway Corp and Sun Hung Kai Properties.

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'These are huge blocks of space coming on to the market and this has implications on rents,' one agent said. 'The developer [Cheung Kong] is aiming to get as many tenants on board at today's rents as possible.' Agents also said there was urgency to lease and sell the Centre considering its size and that it was due for completion in eight months.

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