New prime office space in Central up for lease
The 31-storey CCB Tower on Chater Road is offering nine of its floors to tenants at rents comparable to other grade A blocks in the district
CCB Tower in Central, a new office building developed by a consortium of China Construction Bank and Lai Sun Development, has been released in the market for lease.
The 31-storey office tower, located on the site of the former Ritz-Carlton Hotel Hong Kong, is seeking tenants for offices from the 19th to 27th floors. The remaining floors on the top and lower zones will be occupied by China Construction Bank.
According to Jones Lang LaSalle, the leasing agent for the building, the asking rents ranged from HK$150 to HK$160 per square foot on lettable floor area.
Laurens Chan, director of the markets department at Jones Lang LaSalle, said yesterday that the rental pricing levels were comparable to other prime grade A office buildings in Central.
The average asking rents of the International Finance Centre (IFC) and AIA Central in the district are about HK$180 per sq ft, while recent transactions show the average committed rents are about HK$120 per sq ft.
Despite Central's office market being clouded by the weak global economy since the second half of last year, Chan said landlords were not offering longer rent-free periods to lure tenants.
