17th December, 1996
For immediate release
Swire Properties Ltd. has signed a contract
with Industrial Bank of Japan (IBJ) for the lease of two full
floors at Two Pacific Place.
The new lease involves a total floor area of
41,612 square feet on the 16th and 17th floors of Two Pacific
Place, Swire Properties' prime Central office development. The
new premises will house IBJ group companies, with both local and
regional operations including IBJ Hong Kong Branch, IBJ Asia and
IBJ Leasing. Occupation is scheduled for April.
IBJ said they were very pleased to be able
to find and secure premises with such large floor plates in Pacific
Place. This will allow IBJ to streamline their operations more
effectively.
Swire Properties' Director and General Manager,
Mr Jolyon Culbertson, welcomed the lease agreement, saying that
it underlined the strength of the banking community in Hong Kong
and of Pacific Place, in particular.
"In the last six months a number of strong
multi-national companies have become tenants at Pacific Place,
ensuring they are well positioned for their long term plans.
The level of activity of such companies has resulted in some rental
increases and this is likely to continue," said Mr Culbertson.
A leading merchant banking group in Japan,
IBJ is one of 25 international banks jointly providing a HK$5,300
million term-loan facility to finance Package One of the MTRC
Airport Railway Tung Chung Station Development, which is being
undertaken by a consortium of five developers including Swire
Properties.
Two Pacific Place is one of the twin office
towers at Swire Properties' Pacific Place complex, which comprises
1.5 million square feet of prime office space, three five-star
hotels and an 800,000-square-foot retail podium.
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