INVESTORS in Full Link Plaza in Beijing can expect yields of up to 30 per cent based on the existing average Grade A office rental of $55 per sq ft, according to First Pacific Davies (FPD).
When completed in 1996, the complex will command the highest commercial rents in Beijing, FPD forecast.
Raymond Lee, director of FPD (HK), said Full Link Plaza would be Beijing's equivalent of Exchange Square in Hong Kong.
The reason for the optimism is obvious. Many multinationals are looking to relocate their regional headquarters to Beijing, especially since office rentals in Hong Kong are likely to soar to higher levels with every quarterly cycle.
And with fewer than 40 foreign sales licences issued for Grade A office developments so far, demand will far exceed supply in the near future. FPD is confident that Full Link Plaza will be the most prestigious business address in Beijing.
Describing FPD's first marketing venture in Beijing, Mr Lee said: ''A number of developers with projects in Beijing are inviting us to undertake marketing and management but we are being very selective and Full Link Plaza is the only one we have chosen so far.'' One of the largest commercial projects in Beijing, Full Link Plaza occupies 1.2 million sq ft of prime land in the heart of Beijing, of which 800,000 sq ft is for offices and 430,000 sq ft for retailers. Office sizes range from 1,288 sq ft to 54,896 sq ft for an entire floor.
Full Link Plaza features a twin tower with the taller one 29 storeys high. The shorter one is 15 storeys high. The complex has a glass curtain wall, floor plates offering 74 per cent efficiency, 19 passenger lifts, five service lifts, 22 escalators and 296 car-parking spaces.