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Plan to sell IFC tower by strata title

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A Sun Hung Kai Properties (SHKP) and Henderson Land Development-led consortium is considering selling office floors at the upper zone of the 88-storey Two International Finance Centre in Hong Kong Station, Central, on strata-title basis.

Sources said space available for individual investors could be limited to less than 20 floors, those not spared for the Hong Kong Monetary Authority and MTR Corp.

Analysts said the strata-title disposal, if realised, could bring about a sale income of HK$3 billion to HK$4 billion to the consortium in addition to the sales income from HKMA's pending buy.

The HKMA is negotiating to acquire the top 15 floors of the tower. The buy was expected to cost about HK$4 billion - representing an average of up to HK$12,000 per sq ft.

Sources said although the HKMA deal had yet to be finalised, the vendor and buyer had reached a certain understanding before the Lunar New Year.

The developers also have to return nearly two-thirds of office space, at the medium-to-lower zone, of the building to the MTRC under a joint-venture agreement.

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