{"id":338754,"date":"2022-11-29T20:01:15","date_gmt":"2022-11-29T12:01:15","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=338754"},"modified":"2023-02-19T20:22:35","modified_gmt":"2023-02-19T12:22:35","slug":"henderson-submits-plan-for-hong-kongs-site-3","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/projects\/henderson-land-unveils-plan-for-centrals-site-3-in-hong-kong\/","title":{"rendered":"Henderson Land Unveils Plan for Central\u2019s Site 3 in Hong Kong"},"content":{"rendered":"<div id=\"attachment_338757\" style=\"width: 790px\" class=\"wp-caption alignnone\"><img decoding=\"async\" aria-describedby=\"caption-attachment-338757\" class=\"wp-image-338757 size-full\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3_.jpg\" alt=\"Site 3 design\" width=\"780\" height=\"399\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3_.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3_-400x205.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3_-350x180.jpg 350w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3_-640x327.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3_-420x215.jpg 420w\" sizes=\"(max-width: 780px) 100vw, 780px\" \/><p id=\"caption-attachment-338757\" class=\"wp-caption-text\">The design by Lead8 is the shape of things to come for Hong Kong&#8217;s waterfront<\/p><\/div>\n<p>Henderson Land Development has submitted a design plan for its Site 3 harbourfront development in Hong Kong\u2019s Central district, <a href=\"https:\/\/www.info.gov.hk\/tpb\/en\/plan_application\/A_H24_31.html\">according to an application by the builder to the Town Planning Board<\/a>, with the project expected to be worth as much as HK$73 billion ($9.3 billion) upon completion.<\/p>\n<p>Plans for the 1.8 million square foot (172,819 square metre) project, which Henderson won last November <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/projects\/henderson-wins-hong-kong-harbourfront-site-3-for-6-5b\/\">with a HK$50.8 billion bid<\/a>, include three commercial towers, government facilities and a reconstruction of the historic Star Ferry Clock Tower, which Henderson plans to rebuild with a slightly more prominent profile on the waterfront, according to documents submitted to the Town Planning Board.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/ad.doubleclick.net\/ddm\/trackclk\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;ltd=;dc_tdv=1\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Copy of APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real Estate\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><script language='JavaScript1.1' src=\"https:\/\/ad.doubleclick.net\/ddm\/trackimpj\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;ord=+ Date.now();dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;gdpr=${GDPR};gdpr_consent=${GDPR_CONSENT_755};ltd=;dc_tdv=1?\" attributionsrc ><\/script><\/p>\n<p>\u201cIn terms of absolute height, (the buildings) are not skyscrapers, and as Henderson is one of the major landlords in the area, I trust the application would be acceptable,\u201d said Vincent Cheung, managing director at Vincorn Consulting and Appraisal. \u201cThe extensive public space to be provided and the reestablishment of the clock tower would work in the developer\u2019s favour while the planning application is under consideration,\u201d he said.<\/p>\n<p>The plot will be <a href=\"https:\/\/www.info.gov.hk\/tpb\/tc\/plan_application\/Attachment\/20221125\/s16_A_H24_31_0_gist.pdf\">developed in two phases<\/a>, according to Henderson\u2019s plan, with the community element known as Site 3A expected to be completed in 2026. The office and retail section \u2013 Site 3B \u2013 is set to debut in 2031.<\/p>\n<h3>Harbourfront Towers<\/h3>\n<p>Of the total commercial area to be developed on Site 3, the office portion would cover about 691,301 square feet, with retail spanning the remaining 923,285 square feet, according to Henderson\u2019s planning documents. To ensure clear views of the city\u2019s famous harbour from Central, the buildings would each stand six to ten floors high, reaching no taller than 50 metres above the Principal Datum (mPD) baseline.<\/p>\n<div id=\"attachment_326071\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-326071\" class=\"size-full wp-image-326071\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Martin-Lee.jpg\" alt=\"Martin Lee\" width=\"450\" height=\"374\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Martin-Lee.jpg 450w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Martin-Lee-400x332.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/07\/Martin-Lee-420x349.jpg 420w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/><p id=\"caption-attachment-326071\" class=\"wp-caption-text\">Henderson Land&#8217;s Martin Lee<\/p><\/div>\n<p>The towers will be connected via a landscaped deck, which tops the project and includes public open space, as well as a connecting footbridge that links to nearby developments such as the International Finance Centre. Tower 3 in the project would sit in front of Hongkong Land\u2019s Jardine House, and across Man Yiu Street from the Exchange Square Complex.<\/p>\n<p>The application for Site 3\u2019s design, which was developed by <a href=\"https:\/\/www.info.gov.hk\/tpb\/tc\/plan_application\/Attachment\/20221125\/s16_A_H24_31_0_gist.pdf\">consultants from Lead8, Wong &amp; Ouyang, PWP Landscape Architecture, Arup and Urbis<\/a>, came six years after the government submitted a planning brief setting out broad development parameters, as well as planning and design requirements for the site, <a href=\"https:\/\/www.info.gov.hk\/gia\/general\/201611\/02\/P2016110200673.htm\">to the Town Planning Board\u2019s Metro Planning Committee (MPC)<\/a>.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/oxford-ivanhoe-kic-savills-on-singapore-india-markets\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"14 NOVEMBER 2023 conrad centennial Singapore\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>The brief for the project required the eventual developer of Site 3 to reconstruct the Star Ferry Clock Tower, which in 2006 was demolished as part of the <a href=\"https:\/\/hongkongfp.com\/2021\/11\/13\/factwire-star-ferry-clock-tower-to-rise-again-but-hong-kong-govt-abandons-pledge-to-install-original-historic-features\/\">Central Reclamation Plan (CRP)<\/a> to expand the city\u2019s limited supply of usable land, according to the Hong Kong Free Press.<\/p>\n<p>\u201cThe reconstruction should pay due respect to its original design to allow visitors to reminisce the old Star Ferry Pier and the previous Central shoreline,\u201d <a href=\"https:\/\/www.info.gov.hk\/tpb\/en\/papers\/MPC\/566-mpc_16-16.pdf\">said the government in its earlier brief<\/a>.<\/p>\n<p>Under the proposal, the height of the rebuilt clock tower would exceed the height limit for the complex specified in the tender by more than 50 percent, and Henderson\u2019s application requests a relaxation of height restrictions to allow for the taller structure.<\/p>\n<p>\u201cCoupled with its prime harbourfront location, the integrated development will benefit Hong Kong both economically and socially,\u201d <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/projects\/henderson-wins-hong-kong-harbourfront-site-3-for-6-5b\/\">a government spokesperson said in an announcement <\/a>when Henderson was announced as the tender winner. \u201cThe Government hopes that this project can optimise development space by providing the maximum possible commercial floor space to address the city\u2019s strong demand for prime Grade A offices, while creating a world-class harbourfront with quality public open space and pedestrian-oriented connectivity.\u201d<\/p>\n<h3>Active Acquisitions<\/h3>\n<p>While Hong Kong\u2019s third-largest developer by market capitalisation makes progress on its harbourfront site, it has been working hard to market space in the Henderson, an office project a few blocks to the west which is currently nearing completion.<\/p>\n<div id=\"attachment_338758\" style=\"width: 790px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-338758\" class=\"wp-image-338758 size-full\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3.jpg\" alt=\"Site 3\" width=\"780\" height=\"451\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3-400x231.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3-640x370.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2022\/11\/Site-3-420x243.jpg 420w\" sizes=\"(max-width: 780px) 100vw, 780px\" \/><p id=\"caption-attachment-338758\" class=\"wp-caption-text\">The plan brings a bit of green to Hong Kong&#8217;s concrete urbanscape<\/p><\/div>\n<p>In July US private equity giant Carlyle Group agreed to lease about 20,000 square feet (1,858 square metres) of space in the 36-storey office tower, with Henderson having <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/carlyle-leases-a-full-floor-at-the-henderson-in-hong-kongs-central\/\">paid a record HK$23.3 billion to acquire the site<\/a> in 2017.<\/p>\n<p>Henderson has also continued adding to its residential land bank in the city, and just last week won approval for the compulsory sale of an aging building in Wan Chai at a reserve price of HK$300 million, <a href=\"https:\/\/www.hk01.com\/%E5%9C%B0%E7%94%A2%E6%A8%93%E5%B8%82\/838867\/%E7%81%A3%E4%BB%94%E8%88%8A%E6%A8%93%E7%8D%B2%E6%89%B9%E5%BC%B7%E6%8B%8D-%E5%BA%95%E5%83%B93%E5%84%84-%E6%81%92%E5%9C%B0%E6%94%B6%E8%B3%BC%E5%83%B9%E4%B8%89%E5%B9%B4%E4%B8%8B%E8%AA%BF30\">according to the HK01<\/a>.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mipim-asia.com\/?utm_source=mingtiandi&#038;utm_medium=barter_website&#038;utm_campaign=mipimasia2023\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"AR-607487_Mipim Asia_23_Banner Resize 780&#215;250\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>That project on Wing Cheung Street would allow the firm to add nearly 71,000 square feet of new space to its portfolio, when combined with adjoining sites.<\/p>\n<p>In addition to that Hong Kong Island project, in September, the developer secured the third of four adjoining sites for a residential project in Kowloon\u2019s To Kwa Wan neighbourhood with a <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/projects\/henderson-land-bags-site-in-hong-kongs-to-kwa-wan\/\">HK$1.2 billion compulsory sale<\/a> of another ageing building.<\/p>\n<p>About a month before that purchase, Henderson won a residential site in Hong Kong Island\u2019s Tai Hang neighbourhood, an upscale residential area uphill from Causeway Bay, through a compulsory sale which <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/projects\/henderson-land-wins-hong-kong-island-housing-site-in-75m-deal\/\">valued the property at HK$588.7 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Henderson Land Development has submitted a design plan for its Site 3 harbourfront development in Hong Kong\u2019s Central district, according to an application by the builder to the Town Planning Board, with the project expected to be worth as much&#8230;&nbsp;<a href=\"https:\/\/www.mingtiandi.com\/real-estate\/projects\/henderson-land-unveils-plan-for-centrals-site-3-in-hong-kong\/\">Read&nbsp;More>><\/a><\/p>\n","protected":false},"author":11578,"featured_media":326071,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[2555],"tags":[4481,6504,5382,1217,694,9070,6675,6517],"ppma_author":[8902],"authors":[{"term_id":8902,"user_id":11578,"is_guest":0,"slug":"pawara-laothamatas","display_name":"Pawara Laothamatas","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/5b39b9fbd02a106fa5c53c7c7b954339?s=96&d=mm&r=g","user_url":"","last_name":"Laothamatas","first_name":"Pawara","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/338754"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/11578"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=338754"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/338754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/326071"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=338754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=338754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=338754"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=338754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}