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MEDIA CENTRE
(Hong Kong, December 16, 2016) Emperor International Holdings Limited (“Emperor International”) (Stock code: 163) announced that it has won a bid successfully through an open tender for a commercial and carpark complex and three carpark buildings at No. 5-19 and No. 6-12 Sui Wo Road, Shatin, New Territories (the “Properties”) at a consideration of HK$728.8 million.
While the car park complex comprises of two 3-storey blocks and one 6-storey block, the commercial and carpark complex (including basement) occupies 3 storeys with an internal floor area of 61,204 square feet. The Properties contain an aggregate of 927 private car parking spaces and 53 motor bike parking spaces, serving the local residents and visitors. The existing tenants of the commercial and carpark complex mainly include banks, supermarket, education centres, clinics, household chain stores and restaurants. Such acquisition will be completed on 14 February 2017. Emperor International intends to use the Properties for property investment purpose for rental return.
Mr. Donald Cheung, Executive Director of Emperor International, said, “We have been actively pursuing household oriented acquisition opportunities which are more resilient to market volatility. The Properties will enable us to diversify our property portfolio beyond prime shopping and commercial areas, while earning a promising rate of return. As the leasing demand towards carpark spaces and domestic retail spaces remains strong, we believe that the Properties will provide a solid rental income stream with long-term upside potential. We also plan to enhance shopper experience and attract traffic through restructuring internal layout, improving facilities and optimisitng tenant mix, thereby achieving long-term asset appreciation of the Properties.”
