Heitman states that the prepared cold storage facility has actually already been fully pre-let to end-users. The procurement was made in conjunction with Heitman’s worldwide core-plus investment technique.
The Panorama Site Plan comprises two 20-story towers and four 17-storey towers with underground car parking. The complex features lush landscaping and modern architecture. The entrance features a landscaped garden, water features, and a sweeping central green. The sky-high buildings are designed for the active lifestyles of residents, with amenities including yoga and meditation decks. The Panorama’s amenities are top-of-the-line. The rooftop has a sky gym and BBQ grill.
“We delight in to include in our existing industrial as well as commercial profile in Hong Kong by obtaining this purposefully located property from a Orchard Road Condo rare company divestiture and anticipate executing our service strategy of changing the property into a best-in-class cold chain logistics centre,” says Brad Fu, head of Asia-Pacific acquisitions at Heitman.
The building is at 6 Yip Cheong Street in Hong Kong’s Fanling commercial area. Based upon its gross flooring location, the residential property is among the biggest commercial properties in Hong Kong’s commercial submarket. The Fanling area is also expected to gain from the development in the housing development, cross-boundary travel, and also logistics framework build-up in the location.
The upcoming repurposed cold storage center is already fully pre-let, says Heitman.
“Demand for specialised en-bloc centers will certainly remain to grow on the back of near full occupancy of cold storage space presently across Hong Kong,” he adds.
Worldwide property financial investment monitoring company Heitman has gotten a 100,000 sq ft logistics possession in Hong Kong. The firm says it will certainly begin a fit-out of the residential or commercial property to repurpose it into a freezer logistics facility.