第一太平戴維斯香港中環(huán)項(xiàng)目投資分析報(bào)告

1、PAGE PAGE 21投資分析投資分析INVESTMENT ANAL YSIS鱷魚恤大廈第一期及第二期香港中環(huán)干諾道中50及55號(hào)CROCODILE HOUSE 1&2NOS.50&55Connaught Road , Central,Hong Kong第一太平戴維斯物業(yè)資料第一太平戴維斯Propeertyy paartiicullarss位置圖Locattionn pllan租約詳情Tenanncy Schheduule投資分析Invesstmeent Anaalyssis-以現(xiàn)狀計(jì)計(jì)算 ooffiice Appproaach-以重建計(jì)計(jì)算Reedevveloopmeent Appproa

2、ach以現(xiàn)狀重建建 meergee wiith以合併隔鄰鄰大廈重重建 mmergge wwithhneighhbouurhoood bloockss平面圖Floorr Pllanss城市規(guī)則Town Zonningg pllannningg地盤圖Site Plaan成交記錄Transsacttionn Reecorrd-全幢買賣賣成交（Whole Block Sales）-租務(wù)成交交（Reentaal）政府地契Goverrnmeent Leaase承業(yè)主命承業(yè)主命 By Order of the Owner中環(huán)罕有優(yōu)質(zhì)商業(yè)大廈私人招標(biāo)出售PRIME COMMERCIAL BUILDINGS I

3、N CENTRAL FOR SALE BY PRIVATE TENDER (截標(biāo)前售出或收回除外Unless previously sold or withdrawn) S.hk 獨(dú)家代理SSOLEE AGGENTT物業(yè)物業(yè) ： 香港中環(huán)幹諾道中50號(hào)及55號(hào)鱷魚廈第一期及第二期THE PROPERTY Crocodile House 1and 2,Nos .50&55 Connaught Road Central,Hong Kong 物業(yè)位置 ：位於中環(huán)干諾道中核心地段，鄰近國(guó)際金融中心，面對(duì)六星級(jí)之四季酒店。The subject property is located on the so

4、uth-western side of connaught Road Central facing to Four Season Hotel and International Finance Centre within core district of Central.物業(yè)發(fā)展 ：鱷魚恤大廈第一期現(xiàn)爲(wèi)一幢23層高之商業(yè)大廈（另加一層地庫），建於1981年，地庫至1樓爲(wèi)商鋪用途，樓上寫字樓。Crocodile House 1 comprises a block of 23-storey (including Basement)commercial building which was comp

5、leted in 1981.B/F , G/F &1/F are designed for retail purposes whilst the upper floors are for office use.鱷魚恤大廈第二期現(xiàn)爲(wèi)一幢19層高這商業(yè)大廈（另加一層地庫），建於1966年，地庫及2樓爲(wèi)商鋪用途，樓上寫字樓。Crocodile House 2 comprises a block lf 19-storey (including Basement )commercial building which was completed in 1966.B/F to 2/F are designe

6、d for retail purposes whilst the upper floors are for office use.總地盤面積 ：約7，815平方尺TOTAL SITE AREA Approx .7,815sq.ft.面積分配 ：AREA SCHEDULE承業(yè)主命承業(yè)主命 By Order of the Owner中環(huán)罕有優(yōu)質(zhì)商業(yè)大廈私人招標(biāo)出售PRIME COMMERCIAL BUILDINGS IN CENTRAL FOR SALE BY PRIVATE TENDER (截標(biāo)前售出或收回除外Unless previously sold or withdrawn) S.hk 香

7、港中環(huán)幹諾道中香港中環(huán)幹諾道中50號(hào)及55號(hào)鱷魚恤大廈第一期及第二期Crocodile House 1 and 2,Nos.50&55 Connaught Road Central ,HongKong租金收入 ：鱷魚恤大廈第一期：每月淨(jìng)租金約港幣$922,266.3元,出租率約90.71%,除兩份租約外,每份租約均附有6個(gè)月之出售或重建提早終止條款。Crocodile House 1 Currently net monthly rental receivable is HK$922,266.30.Occupancy rate is approx.90.71%.Except 2 leases,a

8、ll of the lease with 6months “Sale or Redevelopment” early termination clause.鱷魚恤大廈第二期：每月淨(jìng)租金約港幣$860,697.9元，出租率約93.23%，所有租約均附有6個(gè)月之出售或重建提早終止條款。Crocodile House 2 currently net monthly rental receivable is HK$860,690.90.Occupancy rate is approx.93.23%.All of the lease with 6months “Sale or Redevelopment

9、” early termination clause.交易狀況 ：以現(xiàn)狀及連現(xiàn)有租約出售POSSESSION To be sold on as is basis and with the existing tenancies截標(biāo)日期 ：2007年1月26日（星期五）下午3時(shí)TENDER CLOSING At 3:00pm, 26th January 2007(Friday)DATE詳情請(qǐng)聯(lián)絡(luò)獨(dú)家代理For further information please contact SOLE AGENT投資部 Investment Department 2842 4555香港中環(huán)幹幹諾道中中50號(hào)鱷鱷

10、魚恤大大廈第一一期Crocoodille HHousse 11,Noo.500 Coonnaaughht RRoadd Ceentrral,Honng KKongg投資分析Invesstmeent Anaalyssis以現(xiàn)狀計(jì)算算Officce AApprroacch現(xiàn)時(shí)租金收收入（截截至20006年年10月19日）Curreent Renntall Inncomme (as of 19/10/20006)已租出之面積已租出之面積 ：約58,842平方尺Area with Tenancies Approx.58,842 sq.ft 商鋪：約8,016平方尺Retail:approx.8,016

11、sq.ft. 寫字樓：約50,826平方尺Office:approx.50,826平方尺現(xiàn)時(shí)月租收入 ：港幣￥922,266.3元Current Monthly Rental Receiving HK$922,266.30出租率 ：約90.71%（approx）Occupancy Rate空間單位面積空間單位面積 ：約6,024平方尺Area of Vacant Unit Approx.6,024sq.ft 商鋪：約2,157平方尺Retail:approx.2,157 sq.ft. 寫字樓：約3,867平方尺Office:approx.3,867 sq.ft.估計(jì)月租收入 ：港幣$175,6

12、70元Estimated Monthly Rental Receiving HK$175,670.00 商鋪Retail:$35 psf 寫字樓Office:$25 psf估計(jì)全部租出月租收入 ：港幣$1,097,936.3元（全年:港幣$13,175,236元）Estimated Rent on Fully-let basis HK$1,097,936.30(HK$13,175,236.00p.a.)香港中環(huán)幹幹諾道中中50號(hào)鱷鱷魚恤大估計(jì)全部租出月租收入 ：港幣$1,097,936.3元（全年:港幣$13,175,236元）Estimated Rent on Fully-let basis

13、 HK$1,097,936.30(HK$13,175,236.00p.a.)Crocoodille HHousse 11,Noo.500 Coonnaaughht RRoadd Ceentrral, Hoong Konng估計(jì)月租收收入（以以薪租金金計(jì)算）Projeecteed RRenttal Inccomee onn Fuull Revverssionn以市場(chǎng)租值值計(jì)算Assummed renntall reenewwal or re-enttereed aat aa oppen marrkett reentaal oof樓層Floorr估計(jì)平均尺尺租（港港幣）Projeecteed UU

14、nitt Reent(HK$psff)Basemmentt$25G/F$551/F$28Signaage & BBannner於於$42,0000/每月moonthh2-22/F$24($233-$225)樓層Floorr總月租（港港幣）Projeecteed UUnitt Reent(HK$)商鋪部分RRetaail Porrtioon(BB/F-1/FF&miisc)$430,4100寫字樓部份份Offficee Poortiion(2-222/FF)$1,4224,4463總共Oveeralll$1,8551,8873(全年$222,2222,4766p.aa.)售價(jià)及回報(bào)報(bào)分析Pric

15、ee Brreakkdowwn & Yiieldd Annalyysiss售價(jià)（港幣幣）Pricee(HKK$)平均尺租（港港幣）Unit Rennt(HHK$ppsf)現(xiàn)時(shí)回報(bào)*Initiial Yieeld估計(jì)回報(bào)（以新租金金計(jì)算）Projeecteed YYielld* On Fulll-RReviisioon550,0000,00008,47992.40%4.04%560,0000,00008,63332.35%3.97%570,0000,00008,78772.31%3.90%580,0000,00008,94222.27%3.83%*On ffullly-llet bassis香香

16、港中環(huán)環(huán)幹諾道道中500號(hào)鱷魚魚恤大廈廈第一期期Crocoodille HHousse 11,Noo.500 Coonnaaughht RRoadd Ceentrral,Honng KKongg現(xiàn)時(shí)租金收收入（截截至20006年年10月19日）Curreent Renntall Inncomme (as of 19/10/20006)估計(jì)全部租出月租收入 ：港幣$967,305.9元（全年：港幣$11,607,671元）Estimated Rent on Fully-let basis HK$967,305.90(HK$11,607.671p.a.)已租出之面積 ：約61,776平方尺Area

17、 with Tenancies Approx.61,776 sq.ft估計(jì)全部租出月租收入 ：港幣$967,305.9元（全年：港幣$11,607,671元）Estimated Rent on Fully-let basis HK$967,305.90(HK$11,607.671p.a.)已租出之面積 ：約61,776平方尺Area with Tenancies Approx.61,776 sq.ft 商鋪：約11,786平方尺Retail:approx.11,786sq.ft. 寫字樓：約79,370平方尺Office:approx.79,370平方尺現(xiàn)時(shí)月租收入 ：港幣￥860,697.9

18、元Current Monthly Rental Receiving HK$860,697.90出租率 ：約93.23%（approx）Occupancy Rate空間單位面積 ：約4,442平方尺Area of Vacant Unit Approx.4,442 sq.ft 寫字樓：約4,442平方尺Office:approx.4,442 sq.ft.估計(jì)月租收入 ：港幣￥106,608元Estimated Monthly Rental Receiving HK$106,608.00 商鋪Retail:$55 psf 寫字樓Office:$24 psfCrocoodille HHousse 11

19、,Noo.500 Coonnaaughht RRoadd Ceentrral, Hoong Konng估計(jì)月租收收入（以以薪租金金計(jì)算）Projeecteed RRenttal Inccomee onn Fuull Revverssionn*以市場(chǎng)租租值計(jì)算算Assummed renntall reenewwal or re-enttereed aat aa oppen marrkett reentaal oof樓層Floorr估計(jì)平均尺尺租（港港幣）Projeecteed UUnitt Reent(HK$psff)Basemmentt$12G/F$551/F$283-17/F$24($233

20、-$225)樓層Floorr總月租（港港幣）Totall Moonthhly Rennt(HHK$)商鋪部份RRetaail Porrtioon(BB/F-2/FF)$376,1733寫字樓部份份Offficee Poortiion(3-117/FF)$1,2887,9970總共Oveeralll$1,6664,1143(全年$119,9969,7166p.aa.)售價(jià)及回報(bào)報(bào)分析Pricee Brreakkdowwn & Yiieldd Annalyysiss售價(jià)（港幣幣）Pricee(HKK$)平均尺租（港港幣）Unit Rennt(HHK$ppsf)現(xiàn)時(shí)回報(bào)*Initiial Yieel

21、d估計(jì)回報(bào)（以新租金金計(jì)算）Projeecteed YYielld* On Fulll-RReviisioon490,0000,00007,47002.37%4.08%500,0000,00007,62222.32%4.00%510,0000,00007,77552.28%3.92%520,0000,00007,92772.23%3.84%*On ffullly-llet bassis香港中環(huán)干干諾道中中50號(hào)鱷鱷魚恤大大廈第一一期Crocoodille HHousse 11,Noo.500 Coonnaaughht RRoadd Ceentrral, Hoong Konng總結(jié)Execuut

22、ivve SSummmaryy總面積：約約1300,4664平方方尺Totall Arrea Appproox.1130,4644sq.ft.總售價(jià)及回回報(bào)分析析Pricee Brreakkdowwn & Yiieldd Annalyysiss售價(jià)（港幣幣）Pricee(HKK$)平均尺租（港港幣）Unit Rennt(HHK$ppsf)現(xiàn)時(shí)回報(bào)*Initiial Yieeld估計(jì)回報(bào)（以新租金金計(jì)算）Projeecteed YYielld* On Fulll-RReviisioon1,0400,0000,00007,97112.38%4.06%1,0600,0000,00008,12552.34%3.98%1,0800,0000,00008,27882.29%3.90%1,1000,0000,00008,43112.25%3.83%*on ffullly-llet bassis香港中環(huán)幹幹諾道中中50號(hào)鱷鱷魚恤大大廈第一一期Crocoodille HHousse 11,Noo.500 Coonnaaughht RRoadd Ceentrral, Hoong Konng以重建計(jì)算算