SWIRE PACIFIC 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
Fourth Quarter 2019
This statement contains certain operating information about Swire Properties Limited in relation to the fourth quarter of 2019. 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 year | (Headline) | ||
renewed | ended | ||||
tenancies) | 31 Dec 2019) | ||||
(As at | (As at | (For the year | (including rent | ||
31 Dec | 31 Dec | ended | reviews) | ||
2018) | 2019) | 31 Dec 2019) | |||
Hong Kong | (sq ft) | (HK$ psf) | |||
Pacific Place | 100% | 98% | 458,047 | + 19% | 1PP / 2PP: 125 - 155 |
3PP: 115 - 125 | |||||
Taikoo Place (2) | 99% | 99% | 326,010 | + 13% | high 40s - mid 50s |
One Island East & | 99% | 100% | 292,055 (3) | + 11% (3) | mid 50s - low 70s |
One Taikoo Place | |||||
Overall HK Office | 99% (4) | 99% | N/A | N/A | N/A |
Mainland China | (sq m) | (RMB psm) | |||
Taikoo Hui Offices | 99% | 97% | 20,275 | N/A | mid 100s - low 200s |
ONE INDIGO | 97% | 76% | 7,560 | N/A | high 200s - low 300s |
HKRI Centre 1 & | 98% (4) | 99% | 8,128 | 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 year ended | |||||||
31 Dec 2019) | |||||||||
31 Dec | 31 Dec | ||||||||
2018) | 2019) | ||||||||
Hong Kong | |||||||||
The Mall, Pacific Place | 100% | 100% | - 16.8% (5) | ||||||
Cityplaza | 100% | 100% | - 2.9% | ||||||
Citygate Outlets | 100% | 98% | - 4.5% (6) | ||||||
Mainland China | |||||||||
Taikoo Li Sanlitun | 100% | 100% | + 10.6% | ||||||
Taikoo Hui, Guangzhou | 100% | 99% | + 19.7% | ||||||
INDIGO | 99% | 100% | + 26.4% | ||||||
Sino-Ocean Taikoo Li Chengdu | 99% | 97% | + 22.9% | ||||||
HKRI Taikoo Hui, Shanghai | 97% (4) | 98% | + 72.6% | ||||||
Miami, Florida, USA | |||||||||
Brickell City Centre | 89% (4) | 90% (4) | + 14.1% |
Notes:
- Reversion is the percentage change in rent on lease renewals, entry into new leases and rent reviews.
- Including PCCW Tower.
- Excluding One Taikoo Place which was completed in September 2018.
- Including space allocated to prospective tenants who have signed letters of intent.
- The department store (on Levels 1 and 2) at The Mall, Pacific Place was closed for reconfiguration and renovation at the end of May 2019. It reopened in its new format on Level 2 in late September 2019, whilst new shops located at the reconfigured area on Level 1 have been opening progressively since November 2019. No adjustment has been made to the retail sales figures to reflect sales lost as a result of such closure.
- Including Citygate Outlets' new extension, which opened in phases beginning in August 2019.
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 | 2021 / 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 | |||
Mainland China | (sq m) | ||
Taikoo Li Qiantan, Shanghai | 115,850 | 2020 | - Superstructure 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 (7) (8) | 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) | Actual | Handover | |||||
Completion | |||||||
Hong Kong | (sq ft) | ||||||
21-31 Wing Fung Street | 30,867 (9) | 2022 | 2022 | - | Foundation works in progress. | ||
Wong Chuk Hang Station | 638,305 | 2024 | 2025 | - | Schematic design in progress. | ||
Package Four Property | |||||||
Development | |||||||
Singapore | |||||||
EDEN | 77,212 | 2019 | 2020 | - | Completed in November 2019. | ||
Jakarta, Indonesia | |||||||
South Jakarta Project | 1,139,908 | 2023 | 2023 | - | Demolition works completed. | ||
Trading Properties | Saleable | Total | Units Sold | Average Sale Price | |||
(As at 3 February 2020) | Area (10) | Units | (based on saleable area) | ||||
(100% basis) | |||||||
Miami, Florida, USA | (sq ft) | (US$ psf) | |||||
Reach, Brickell City Centre | 51,505 | 390 | 364 (11) | mid 600s | |||
Rise, Brickell City Centre | 163,396 | 390 | 278 (12) | 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 361 units was recognised before 2019. The profit from the sale of two units was recognised in 2019 and the profit from the sale of one unit is expected to be recognised in 2020.
- The profit from the sale of 234 units was recognised before 2019. The profit from the sale of 38 units was recognised in 2019 and the profit from the sale of six units is expected to be recognised in 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), 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, S S Lin 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, 7th February 2020 | Hong Kong, 7th February 2020 |
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Disclaimer
Swire Pacific Ltd. published this content on 07 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2020 08:37:04 UTC
