Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
SWIRE PACIFIC LIMITED
太古股份有限公司
(Incorporated in Hong Kong with limited liability)
(Stock Codes: 00019 and 00087)
SWIRE PROPERTIES LIMITED
太古地產有限公司
(Incorporated in Hong Kong with limited liability)
(Stock Code: 1972)
Announcement
Quarterly Operating Statement of Swire Properties Limited
Second Quarter 2020
This statement contains certain operating information about Swire Properties Limited in relation to the second quarter of 2020. The information has been prepared on the basis of internal management records. It has not been audited or reviewed by external auditors.
1. Completed Investment PropertiesOffice
Principal | Occupancy | Area Let | Reversion (1) | Latest Rentals | |
Properties | (New and | (For the six | (Headline) | ||
renewed | months ended | ||||
tenancies) | 30 Jun 2020) | ||||
(As at | (As at | (For the six | (including rent | ||
31 Dec | 30 Jun | months ended | reviews) | ||
2019) | 2020) | 30 Jun 2020) | |||
Hong Kong | (sq ft) | (HK$ psf) | |||
Pacific Place | 98% | 97% | 260,881 | + 2% | 1PP / 2PP: 115 - 135 |
3PP: 105 - 110 | |||||
Taikoo Place (2) | 99% | 98% | 330,071 | + 12% | mid 40s - mid 50s |
One Island East & | 100% | 100% | 321,299 | + 11% | mid 50s - low 70s |
One Taikoo Place | |||||
Overall HK Office | 99% | 97% | N/A | N/A | N/A |
Chinese mainland | (sq m) | (RMB psm) | |||
Taikoo Hui Offices | 97% | 95% | 4,551 | N/A | mid 100s - low 200s |
ONE INDIGO | 76% | 74% | 10,991 | N/A | high 200s - low 300s |
HKRI Centre 1 & | 99% | 97% | 12,781 | N/A | mid 300s - mid 400s |
Centre 2 |
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Retail
Principal Properties | Occupancy | Retail Sales | |||||||
Growth | |||||||||
(As at | (As at | (For the six | |||||||
months ended | |||||||||
31 Dec | 30 Jun | ||||||||
30 Jun 2020) | |||||||||
2019) | 2020) | ||||||||
Hong Kong | |||||||||
The Mall, Pacific Place | 100% | 100% | - 47.1% | ||||||
Cityplaza | 100% | 100% | - 20.3% | ||||||
Citygate Outlets | 98% | 99% | - 25.6% | ||||||
Chinese mainland | |||||||||
Taikoo Li Sanlitun | 100% | 96% | - 38.1% | ||||||
Taikoo Hui, Guangzhou | 99% | 99% | + 3.4% | ||||||
INDIGO | 100% | 96% | - 6.3% | ||||||
Sino-Ocean Taikoo Li Chengdu | 97% | 95% | - 15.0% | ||||||
HKRI Taikoo Hui, Shanghai | 98% | 94% | + 1.6 % | ||||||
Miami, Florida, USA | |||||||||
Brickell City Centre | 90% (3) | 93% (3) | - 48.2% |
Notes:
- Reversion is the percentage change in rent on lease renewals, entry into new leases and rent reviews.
- Including PCCW Tower.
- Including space allocated to prospective tenants who have signed letters of intent.
2. Investment Properties and Hotels under Development
Principal Properties | GFA | Expected | Development Status |
(100% basis) | Completion | ||
Hong Kong | (sq ft) | ||
Two Taikoo Place | ~1,000,000 | 2022 | - Superstructure works in |
progress. | |||
46-56 Queen's Road East, 1A-11 | ~218,000 | 2023 | - Foundation works in progress. |
Landale Street, 2A-12 Anton Street | |||
Chinese mainland | (sq m) | ||
Taikoo Li Qiantan, Shanghai | 115,850 | 2020 | - Façade, interior decoration, |
mechanical and electrical | |||
installation works in progress. | |||
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Principal Properties | GFA | Expected | Development Status |
(100% basis) | Completion | ||
Miami, Florida, USA | (sq ft) | ||
One Brickell City Centre | 1,967,000 (4) (5) | To be determined | - Future development under |
planning. | |||
Notes:
- Represents leasable or saleable area.
- Including residential portion.
3. Trading Properties
Trading Properties | GFA | Expected | Expected | Development Status | |||
(100% basis) | Completion | Handover | |||||
Hong Kong | (sq ft) | ||||||
8 Star Street | 30,867 (6) | 2022 | 2022 | - | Superstructure works in | ||
(formerly known as "21-31 | progress. | ||||||
Wing Fung Street") | |||||||
Wong Chuk Hang Station | 638,305 | 2024 | 2025 | - | Design in progress. | ||
Package Four Property | |||||||
Development | |||||||
Jakarta, Indonesia | |||||||
South Jakarta Project | 1,122,728 | 2023 | 2023 | - Piling works in progress. | |||
Trading Properties | Saleable | Total | Units Sold | Average Sale Price | |||
(As at 28 July 2020) | Area (7) | Units | (based on saleable area) | ||||
(100% basis) | |||||||
Miami, Florida, USA | (sq ft) | (US$ psf) | |||||
Reach, Brickell City Centre | 51,505 | 390 | 364 (8) | mid 600s | |||
Rise, Brickell City Centre | 152,177 | 390 | 286 (9) | high 600s |
Notes:
- Excluding a retail podium of approximately 2,835 sq ft which will be retained by the Company for investment purposes.
- Represents the saleable area of the remaining unsold units.
- The profit from the sale of 363 units was recognised before 2020. The profit from the sale of one unit was recognised in the first half of 2020.
- The profit from the sale of 272 units was recognised before 2020. The profit from the sale of 11 units was recognised in the first half of 2020 and the profit from the sale of three units is expected to be recognised in the second half of 2020.
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Investors are advised to exercise caution in dealing in shares of Swire Pacific Limited and Swire Properties Limited.
As at the date of this announcement, the Directors of Swire Pacific Limited are:
Executive Directors: M.B. Swire (Chairman), D.P. Cogman, M.M.S. Low, Z.P. Zhang;
Non-Executive Directors: M. Cubbon, S.C. Swire; and
Independent Non-Executive Directors: P.K. Etchells, T.G. Freshwater, C. Lee, R.W.M. Lee and G.R.H. Orr.
As at the date of this announcement, the Directors of Swire Properties Limited are:
Executive Directors: M.B. Swire (Chairman), G.M.C. Bradley, F.N.Y. Lung;
Non-Executive Directors: N.A.H. Fenwick, P. Healy, R.S.K. Lim, M.M.S. Low; and
Independent Non-Executive Directors: L.K.L. Cheng, T.T.K. Choi, S.T. Fung, J.L. Wang and M.Y. Wu.
By Order of the Board | By Order of the Board |
SWIRE PACIFIC LIMITED | SWIRE PROPERTIES LIMITED |
太古股份有限公司 | 太古地產有限公司 |
St.John Flaherty | St.John Flaherty |
Company Secretary | Company Secretary |
Hong Kong, 31st July 2020 | Hong Kong, 31st July 2020 |
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Swire Pacific Ltd. published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 08:51:07 UTC