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News Release

Hong Kong

Campell Group Launches “KC 100” at 100 Kwai Cheong Road, Kwai Hing

Realizing evolution of economy in Hong Kong, reshaping office market in Kwai Hing


 

Hong Kong, 24 October 2013 – Campell Group announced today the official launch of its “KC 100” commercial project for lease at a unit rental of HK$28 per sq ft. Situated at 100 Kwai Cheong Road, Kwai Hing, the 12-storey project is destined to further propel the growth of the Kwai Chung area upon its completion in late 2014.  Jones Lang LaSalle has been appointed as the project’s sole marketing consultant.
 
KC100 is previously known as The General Garment Building, which was established as a garment factory and finally leased to an electronic company for semi-conductor manufacturing before revitalization to an office/commercial building.  It has illustrated the evolution of economy in Hong Kong.
 
The development was purchased by Campell in 2010 following the Government’s announcement of policies for revitalization projects. With the area growing into a booming business area since the establishment of Kowloon Commerce Centre (KCC), KC100, with nine storeys of Grade A office space and two storeys of retail space, is expected to further transform the existing industrial zone into a commercial hub.
 
Scheduled for completion in late 2014, the gross area of KC100 is close to 300,000 sq ft, with typical floor plates of approximately 24,655 sq ft (gross). It is highly accessible and well connected with the rest of Hong Kong: only a 3-minute walk to Kwai Hing MTR Station, a 15-minute drive to Central and a 26-minute drive to Hong Kong International Airport.  In addition, to bring a sense of well-being for tenants, the building’s lobby and common corridors are specially decorated with art pieces from distinguished artists.
 
Dr. Eddy Li Sau Hung, Chairman of Campell Group, said, “KC100 is Campell’s first Grade A office project, which is also a masterpiece, redeveloped from an industrial building. Offering prime Grade A office space, competitive rental packages and unparalleled green architectural design, the development will soon become an urban oasis in the traditionally industrial site. KC100 is expected to attract multinational corporations from the finance, electronics, logistics and telecommunications sectors and thus further boost the growth of the office market in the area. As a pioneer dedicated to industrial revitalization, we target to establish KC100 as the most successful revitalization project currently in Hong Kong.”
 

“In addition, KC100, with two storeys of retail space of over 60,000 sq ft, will provide the tenants and shoppers with a diverse range of shopping choices and an array of top-tier restaurants.  KC100 will definitely become one of the most convenient office accommodations in Kwai Chung area,” Dr. Li added.

According to Jones Lang LaSalle Research, the supply of Grade A office space in 2014 will be approximately 848,000 sq ft (excluding HK Science Park).  Adding the new supply of 474,000 sq ft from the revitalization projects, the total supply in 2014 will increase to over 1.32 million sq ft, which is still at a low level when compared to 2010 and 2011.
 
Mr. Adrian Tang, Head of Kowloon Markets at Jones Lang LaSalle, said, “The completion of KC100 will not only alleviate the pressure of shortage of Grade A office supply, but will also provide a perfect alternative for cost-sensitive tenants who look to operate their businesses in a non-traditional commercial area with high potential.”
 
“The project will set an unprecedented successful example for revitalization projects in the pipeline. Looking forward, we are optimistic about the prospects for industrial revitalization in Hong Kong,” added Tang.