Champion REIT is a Hong Kong

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

that owns office and commercial properties, primarily in Asia.

Overview

Champion REIT was spun off from its sponsor

Great Eagle Holdings Great Eagle Holdings Limited () is a Hong Kong real estate company listed on the Hong Kong Stock Exchange. Through its subsidiaries, it engages in property investment and owns and operates various hotels. Its head office is located at the Grea ...

, and listed on 24 May 2006 on the Hong Kong Stock Exchange. Its principal asset at the time was its stake in

Citibank Plaza Three Garden Road, Central, is an office building in Central, Hong Kong, Central, Hong Kong near Garden Road stop of the Peak Tram, completed in 1992 by the Great Eagle Holdings, Great Eagle Group. The building comprises two wings, each with its ...

. Eagle Asset Management (CP) Limited, a subsidiary of the

, is the REIT manager; HSBC Institutional Trust Services (Asia) Limited is the trustee. Following its acquisition of Langham Place, its portfolio has been increased in size to approximately . of office space and . of retail space in Hong Kong

Citibank Plaza

Champion REIT owns 95.7% stake in

, a modern glass and steel office complex that comprises

Citibank Tower Citibank Tower ( Malay: Menara Citibank), is a 50-storey Class A commercial tower located close to the Petronas Towers and houses the headquarters of Citibank Syariah. The building was developed by The Lion Group and completed in 1995, and was ...

, a 47-storey building, and ICBC Tower, a 37-storey building, and includes a retail podium as well as a parking garage for 555 vehicles. The portion of Citibank Plaza controlled by Champion REIT has a total floor area of , comprising of office space and of retail space. Most of the stake was purchased by the REIT for HK$18.7 billion at the time of its initial public offering. An additional three floors within the complex were purchased by Champion REIT subsequently from Kerry Properties.

Langham Place

On 3 June 2008, Champion REIT acquired from

the non-hotel components of Langham Place in

Mong Kok Mong Kok (also spelled Mongkok, often abbreviated as MK) is an area in Kowloon, Hong Kong. The Prince Edward subarea occupies the northern part of Mong Kok. Mong Kok is one of the major shopping areas in Hong Kong. The area is characterised ...

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

, for HK$12.5 billion. The acquisition included 702,900 square feet (65,300 m²) of office space within the 59-storey Langham Place Office Tower and the entire Langham Place Mall which has 589,800 square feet (54,792 m²) of retail space and 250 parking spaces in the basement of the project. The Langham Place project was completed in July 2004. . The consideration valued the retail portion at HK$12,519 per square foot and about HK$6,815 for the office portion, an 11.8% discount to the appraised value.Alfred Liu
"Champion REIT buys Langham mall for $12.5b"
, The Standard, 15 February 2008

References

External links

* {{official website, http://www.championreit.com/ 2006 establishments in Hong Kong Companies listed on the Hong Kong Stock Exchange Real estate investment trusts of Hong Kong