For immediate release
12th May 1997
Lease of Festival Walk Office Building Starts
Swire Properties Ltd. unveiled today its office building at Festival Walk, a 1.25 million-square-foot retail/office development scheduled to open in Kowloon Tong in the second quarter of 1998.
With 52,000 square feet on each of its four levels and an unusually high efficiency rate of 92%, the 22,000-square-foot building will provide the largest floor plates of any Grade A office building in Hong Kong.
Added to this, Festival Walk is conveniently located at the transport hub of the only interchange between the MTR and the KCR networks, adjacent to a major bus terminus. These provide easy access to all parts of Hong Kong as well as a direct link to Southern China.
"Large office floor plates are uncommon in space-precious Hong Kong. Rarer still are those of such a high quality and as conveniently located as Festival Walk," said Swire Properties Director and General Manager Jolyon Culbertson.
"This makes Festival Walk an excellent opportunity for companies seeking operational efficiency and the communications advantage of being located on a minimal number of floors."
Built to create a highly efficient work environment, the Festival Walk office building features raised flooring on each level to give users great flexibility in office planning. This also facilitates the re-organisation of work stations and complete retrofits, which can be carried out at minimal cost and disruption.
Such structural benefits are complemented by other special features, including a central atrium and full-height, solar reflective glass curtain walls which flood the interiors with natural light; a generous 2.5-metre headroom between raised floor and suspended ceilings; and central air conditioning which is digitally controlled, appropriately zoned and pre-programmed to achieve energy cost savings. All these features go in line with the unique and highly efficient nature-inspired architecture of Festival Walk.
Richard Ellis, international property consultants, is the appointed office leasing agent of Festival Walk on behalf of Swire Properties.
The company's Director of Commercial Agency, Richard Watton, said: "Festival Walk is truly unique, with the largest floor plates and a highly efficient top-quality design situated in a prime location well-served by every major form of transport.
"For large space users requiring cost effective improvements in operational efficiency in a well-managed modern facility, Festival Walk is the ideal choice."
Mr Culbertson added: "Tenants will also find themselves well-served by the one-million square-foot Festival Walk shopping centre, which will offer some of Hong Kong's best shopping and leisure facilities, with 250 shops catering to a wide range of tastes and needs. They are, of course, also assured of the usual high standard of management provided by Swire Properties."
Festival Walk is a 50/50 joint venture between Swire Properties and Citic Pacific.
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