SWIRE PROPERTIES LIMITED 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
Third Quarter 2018
This statement contains certain operating information about Swire Properties Limited in relation to the third quarter of 2018. 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 Properties Office
Principal Properties | Occupancy | Area Let (New and renewed tenancies) (For the nine months ended 30 Sep 2018) | Reversion (1) (For the nine months ended 30 Sep 2018) (including rent reviews) | Latest Rentals (Headline) | |
(As at 31 Dec 2017) | (As at 30 Sep 2018) | ||||
Hong Kong | (sq ft) | (HK$ psf) | |||
Pacific Place | 100% | 100% | 169,289 | + 25% | 1PP / 2PP: 130 - 160 3PP: 110 - 120 |
Cityplaza (2) | 98% | 99% | 151,930 | + 6% | mid 40s - high 40s |
Taikoo Place (3) | 99% | 100% | 838,433 | + 6% | high 40s - mid 50s |
One Island East | 100% | 99% | 59,811 | + 7% | mid 50s - low 70s |
Overall HK Office | 99% | 99% | N/A | N/A | N/A |
Mainland China | (sq m) | (RMB psm) | |||
TaiKoo Hui Offices | 99% | 100% | 19,421 | N/A | mid 100s - low 200s |
ONE INDIGO | 98% | 100% | 18,083 | N/A | high 200s - low 300s |
HKRI Centre 1 & Centre 2 | 82% (4) | 96%(4) | 26,966 | N/A | mid 300s - mid 400s |
Retail
Principal Properties | Occupancy | Retail Sales Growth (For the nine months ended 30 Sep 2018) | |
(As at 31 Dec 2017) | (As at 30 Sep 2018) | ||
Hong Kong | |||
The Mall, Pacific Place | 100% | 100% | + 16.3% |
Cityplaza | 100% | 100% | + 6.6% |
Citygate Outlets | 100% | 100% | + 6.5% (5) |
Mainland China | |||
Taikoo Li Sanlitun | 99% | 99% | + 11.8% |
TaiKoo Hui, Guangzhou | 99% | 100% | + 10.8% |
INDIGO | 99% | 99% | + 0.8% |
Sino-Ocean Taikoo Li Chengdu | 95% | 96% | + 26.2% |
HKRI Taikoo Hui, Shanghai | 96% (4) | 97%(4) | N/A |
Miami, Florida, USA | |||
Brickell City Centre | 88% (4) | 91%(4) | N/A |
Notes:
(1) Reversion is the percentage change in rent on lease renewals, entry into new leases and rent reviews.
(2) Excluding Cityplaza Three and Cityplaza Four. Swire Properties Limited entered into a conditional sale and purchase agreement on 15th June 2018 for the sale of Swire Properties Limited's 100% interest in a subsidiary which owns the Cityplaza Three and Cityplaza Four Properties.
(3) Including PCCW Tower.
(4) Including space allocated to prospective tenants who have signed letters of intent.
(5) Excluding area closed for renovation and upgrading works during the first three quarters.
2. Investment Properties and Hotels under Development
Principal Properties | GFA (100% basis) | Actual/ Expected Completion | Development Status |
Hong Kong | (sq ft) | ||
One Taikoo Place | ~1,020,000 | 2018 | - Occupation permit was obtained in September 2018. |
Tung Chung Town Lot No. 11 | ~474,000 (6) | 2019 | - Fitting out works in progress. |
South Island Place | ~382,500 | 2018 | - Occupation permit was obtained in August 2018. |
Two Taikoo Place | ~1,000,000 | 2021 / 2022 | - Foundation works in progress. |
Po Wah Building, 1-11 Landale Street and 2-12 Anton Street | To be determined | After 2022 | - Redevelopment under planning. |
Principal Properties | GFA (100% basis) | Expected Completion | Development Status |
Mainland China | (sq m) | ||
Qiantan Project, Shanghai | 115,841 | 2020 | - Construction of basement and superstructure in progress. |
Miami, Florida, USA | (sq ft) | ||
One Brickell City Centre | 1,967,000 (7) (8) | To be determined | - Future development under planning. |
Notes:
(6) Excluding a public transport terminus of approximately 65,000 sq ft being built and to be handed over to the Hong Kong Government upon completion.
(7) Represents leasable or saleable area.
(8) Including residential portion.
3. Trading Properties
Trading Properties | GFA (100% basis) | Expected Completion | Expected Handover | Development Status |
Hong Kong | (sq ft) | |||
21-31 Wing Fung Street | 29,928 (9) | 2022 | 2022 | - Demolition works in progress. |
Trading Properties (As at 2 November 2018) | Saleable Area (10) (100% basis) | Total Houses/ Units | Houses/ Units Sold | Average Sale Price (based on saleable area) |
Hong Kong | (sq ft) | (HK$ psf) | ||
WHITESANDS | - | 28 | 28 (11) | 20,610 |
Miami, Florida, USA | (sq ft) | (US$ psf) | ||
Reach, Brickell City Centre | 51,053 | 390 | 363 (12) | mid 600s |
Rise, Brickell City Centre | 225,064 | 390 | 237 (13) | high 600s |
Notes:
(9) Excluding a retail podium of approximately 4,200 sq ft which will be retained by the Company for investment purposes.
(10) Represents the saleable area of the remaining unsold units.
(11) The profit from the sale of 16 houses was recognised before 2018. The profit from the sale of six houses was recognised in the first half of 2018 and the profit from the sale of six houses is expected to be recognised in the second half of 2018.
(12) The profit from the sale of 359 units was recognised before 2018. The profit from the sale of one unit was recognised in the first half of 2018 and the profit from the sale of three units is expected to be recognised in the second half of 2018.
(13) The profit from the sale of 199 units was recognised before 2018. The profit from the sale of 14 units was recognised in the first half of 2018 and the profit from the sale of 24 units is expected to be recognised in the second half of 2018.
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), I.K.L. Chu, D.P. Cogman, M.M.S. Low; 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, S.T. Fung, S.C. Liu 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 |
David Fu | David Fu |
Company Secretary | Company Secretary |
Hong Kong, 7th November 2018 | Hong Kong, 7th November 2018 |
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Swire Properties Ltd. published this content on 07 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 November 2018 09:17:02 UTC
