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 ce ...

that owns office and commercial properties, primarily in Asia.

Overview

Champion REIT was spun off from its sponsor Great Eagle Holdings, and listed on 24 May 2006 on the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...

. Its principal asset at the time was its stake in

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

Eagle Asset Management (CP) Limited Eagle is the common name for many large Bird of prey, birds of prey of the family Accipitridae. Eagles belong to several groups of Genus, genera, some of which are closely related. Most of the 68 species of eagle are from Eurasia and Africa. Ou ...

, a subsidiary of the Great Eagle Holdings, is the REIT manager;

HSBC Institutional Trust Services (Asia) Limited HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tril ...

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, a 47-storey building, and

ICBC Tower Three Garden Road, Central, is an office building in Central, Hong Kong near Garden Road stop of the Peak Tram, completed in 1992 by the Great Eagle Group. The building comprises two wings, each with its own service core, which are marketed as ...

, 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 Great Eagle Holdings 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 characterise ...

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 Langham may refer to: Places Australia * The Langham, Melbourne, a luxury hotel in Melbourne Canada *Langham, Saskatchewan England *Langham, Dorset *Langham, Essex *Langham, Norfolk * Langham, Northumberland * Langham, Rutland * Langham, Som ...

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