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基汇资本21亿出售上海仙乐斯广场宣告失败
Sou Hu Cai Jing· 2025-09-05 19:52
Group 1 - The landmark project Xianlesi Plaza on Nanjing West Road in Shanghai was reported to be sold for 2.1 billion RMB to Xiamen State-owned Enterprise Xiangyu Group, with a transaction price of approximately 30,000 RMB per square meter, but the deal has reportedly "failed" [1][4] - Xianlesi Plaza, a 37-story mixed-use complex completed in 2001, is located in the core business district of Huangpu District, featuring a unique design with a four-story glass "sky garden" and has a rental rate of about 90% for the shopping mall and over 70% for the office space as of 2023 [1][3] - The complex has a total area of nearly 85,000 square meters and was previously known as Xianlesi Dance Hall, which opened in 1936 [3] Group 2 - The ownership structure of Xianlesi Plaza is complex, with KKR Capital acquiring the project in 2008, and in 2015, PAG and Goldman Sachs joined as partners, collectively holding 98.68% of the equity [4] - The initial sale price for the project was set at 2.8 billion RMB (approximately 40,000 RMB per square meter) in 2023, but due to fragmented ownership and complex structure, negotiations have repeatedly failed [5] - Xiangyu Group's bid represented a 25% discount from the initial asking price, marking the largest discount in the Nanjing West Road business district in nearly three years [5]
31亿元!新世界发展抛售上海写字楼
21世纪经济报道· 2025-07-09 14:47
Core Viewpoint - New World Development is selling its K11 office property in Shanghai, with a total area of approximately 80,500 square meters, at a price exceeding 3.1 billion yuan, contrary to earlier rumors of 2.85 billion yuan [1][6]. Group 1: Market Trends - The market for large asset transactions is seeing an increase in listings, but both transaction volume and prices are declining [3][7]. - The remaining usage years of commercial properties significantly impact negotiation dynamics, with shorter remaining terms leading to a more passive position for sellers [3][6]. - The overall transaction volume in Shanghai's large asset market has dropped to its lowest level in five years, with a total transaction amount of 230 billion yuan in the first half of the year, down 30% year-on-year [7][11]. Group 2: Buyer Behavior - The buyer structure has shifted, with non-institutional buyers becoming the main force, accounting for 75% of transactions under 500 million yuan [10][11]. - Buyers are increasingly cautious, leading to prolonged transaction cycles, even for properties with longer remaining usage years [7][11]. - The capitalization rates for commercial properties have risen, reflecting increased risk premiums demanded by investors [11][12]. Group 3: Specific Transactions - The sale of K11 is part of a broader trend where properties with shorter remaining usage years are being sold, as seen in other recent transactions like the sale of Xianlesi Plaza [3][6][12]. - The ongoing negotiations for the sale of Xianlesi Plaza highlight the challenges faced in reaching an agreement due to differing valuations among buyers, owners, and financial institutions [3][12]. - New World Development's attempt to liquidate its K11 office space quickly is indicative of the complexities involved in selling properties with limited remaining usage [13].