| FOR IMMEDIATE RELEASE | 20 September 2005 |
Swire Properties today (Tuesday, 20 September 2005) announced that four new tenants have committed to lease office space in Three Pacific Place, increasing the occupancy rate of the office tower by a further 10% in just one month.
Accenture, Bird & Bird, HSH Nordbank and Kim Eng Securities, will occupy over 50,000 sq ft in the upper zone of the Grade-A office tower. All of these four new tenants will relocate from their respective offices in Central to the financial business hub at Pacific Place.
Prior to the signing of the above, Société Générale Corporate & Investment Banking and The Bank of New York also committed to relocate their offices, including their round-the-clock trading floors, to Three Pacific Place. These successful leases are an indication of the banking and professional services sector's acceptance of Three Pacific Place as the highest caliber location with its powerful communications support, stable power supply and a high degree of security measures.
Swire Properties' Director and General Manager, Mr Jolyon Culbertson said, "We are delighted that Three Pacific Place is in high demand from the banking and professional services industries who have taken a significant proportion of the building"
With the addition of the four new tenants, the occupancy rate of Three Pacific Place now exceeds 70%, with effective rentals approaching high-$30s.
Emphasising building excellence, Swire Offices has created major business hubs in Hong Kong, offering corporations the best facilities, connectivity, environment and services in which to operate.
About Swire Properties
Swire Properties, a wholly-owned subsidiary of Swire Pacific Limited, was incorporated in 1972 and is one of Hong Kong's leading developers with extensive experience in the development and management of major commercial, retail and residential properties. The company's strategy has been to 'hub' its investment property holdings around major shopping centres and office towers constructed at the principal Mass Transit Railway intersections.
Swire Properties' investment portfolio in Hong Kong principally comprises office and retail premises, which it manages in prime locations, as well as serviced apartments and other luxury residential accommodation. The completed portfolio totals just over 12 million sq ft of gross floor area. Current investment property pending or under development in Hong Kong comprises a further 2.58 million sq ft, mainly of office space.
Visit Swire Properties web site at www.swireproperties.com
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