Henderson Land Development Company has successfully secured Jane Street, a prominent US quantitative trading firm, as a tenant for six office floors at its New Central Harbour project in Hong Kong. This landmark deal marks a significant milestone in Hong Kong’s commercial real estate sector, as it represents the largest single office leasing transaction in the Central Business District in decades.
With Jane Street taking up approximately 70% of the first phase office space, the agreement signals strong demand for premium office spaces in one of the world’s most competitive markets. The lease agreement grants Jane Street occupancy of 223,437 square feet, a substantial portion of the total available space in the first phase of the New Central Harbour development.
The monthly rent for this expansive area is set at HK$137 per square foot, translating to a total monthly rental income of about HKD$30.6 million. This transaction not only highlights the financial viability of the New Central Harbour project, but also illustrates the growing interest from international firms in Hong Kong’s office market, particularly in prime locations where business activity is robust.
The New Central Harbour development is part of a larger waterfront project that encompasses over 1.6 million square feet of gross floor area, with a total of 700,000 square feet dedicated to office and ancillary space. This project is designed to provide state-of-the-art facilities and amenities, catering to the needs of modern businesses.
As the first phase is projected to be completed by the fourth quarter of 2026, the timeline aligns well with the anticipated recovery and growth of the commercial real estate sector post-pandemic. The strategic positioning of the New Central Harbour project further enhances its appeal.
Located in a prime area of Hong Kong, it offers convenient access to key transportation links, business hubs, and lifestyle amenities, making it an attractive choice for companies looking to establish or expand their presence in the region. The inclusion of Jane Street as a tenant adds prestige to the development and serves as a testament to its quality and desirability.
In addition to the immediate financial benefits of the lease agreement, Henderson Land Development Company is set to gain valuable insights into the evolving needs of tenants in the competitive office market. The presence of a high-profile firm like Jane Street could attract further interest from other companies seeking to locate in the area, potentially leading to additional leasing opportunities.
As the New Central Harbour project progresses towards its completion, the partnership with Jane Street may also lead to enhanced collaboration and innovation within the building, fostering a dynamic work environment. This successful leasing transaction underscores the resilience of Hong Kong’s commercial real estate market and its capacity to attract global firms looking for premier office spaces.
Henderson Land Development Company appears well-positioned to capitalize on this momentum as it continues to develop its flagship project.
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News Source: Edgeprop
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