Value Properties is a Hong Kong-based online listing platform that allows you to find the right space for your business from a vast pool of commercial real estate listings with ease. The platform also offers the convenience of connecting you with a team of professional agents who will guide you throughout the entire leasing process, from site inspections and documentation to the final transaction. Whether you are local enterprises, start-ups or new entrants to Hong Kong, Value Properties strives to simplify your search.
 

Value Properties is operated by CBRE Group Inc. (NYSE: CBRE), a globally renowned commercial real estate services and investment firm headquartered in Dallas. With a strong presence in over 100 countries and regions, CBRE boasts a dedicated workforce of close to 130,000 employees. The company offers a comprehensive range of services to a diverse clientele encompassing facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. 

Value Properties offers real estate leasing and investment advisory services for local enterprises, start-ups and new entrants to Hong Kong. We also partner with CBRE for a spectrum of real estate services including valuation and consulting, project management, building consultancy, workplace strategy and property management. 

Absolutely! Simply fill in the contact form on the Value Properties website www.valueproperties.com.hk  , providing your contact information along with details of the property you wish to list. Our team of experienced real estate agents will promptly get in touch with you to discuss the next steps. You can rest assured that your property will receive the attention it deserves.

Please E-mail your CV to hr@valueproperties.com.hk

For general enquiries, please email info@valueproperties.com.hk or Whatsapp +852 2820 1532

Our professional agents work diligently around the clock, but there may be times when they are occupied. Please expect to hear from us within 24 hours after sending your request.

For new leases, the landlord usually pays a fee to the agent. The standard fee is one to three months of the agreed headline rents. In the case of lease renewals, the tenant pays the agency fee to the agent representing them. The standard rate is in general either a portion of monthly rent or a percentage of the savings over the newly agreed renew lease term Actual fees may vary based on mutual  agreements between tenant and agent, and under specific circumstances.

Other costs involved in renting a new office in Hong Kong include the deposit to the landlord, typically three months’ rent. Unless specified, both tenant and landlord bears its own legal cost.

When a lease is executed, both the tenant and the landlord may be subject to stamp duty, which to be shared equally:

•    0.25% of the annual rent if lease term 1 year or less
•    0.5% of the average annual rent if lease term 1-3 years
•    1% of the average annual rent if lease term of 3+ years

Other expenses to consider include moving costs and construction fit-out costs for tenants who wish to make improvement to the premises. A vetting fee may be charged by the management company for vetting and approval of layout plans, together with a management charges for works in progress.

Government rates will be collected by the Rating and Valuation Department quarterly in advance. It is charged at 5% of the ratable value of the premises as evaluated by the Government.

Government rents may also be charged by the Rating and Valuation Department quarterly, should the property locates in the New Territories and north of Boundary Street or those properties located on Hong Kong Island or Kowloon which are held under a land lease granted or extended on or after 27 May 1985 . It is charged at 3% of the rateable value of a property as evaluated by the Government. Generally the landlords may bear this and subject to mutual agreement.

Meanwhile, the cost of Reinstatement will be occurred before the lease expiry. Some landlords may request the tenant to pay a lumpsum reinstatement cost prior to the lease expiry handover, instead of reinstating to bare-shell condition and handover back to landlords.

Other on-going expenses include the electricity, water and other utility bills. 

Typically, the office leasing process takes approximately as fast as from two to six weeks, from the initial appointment of a property agent, market overview / cost analysis, site inspection, negotiation, legal documentation, fitting out, to the final moving-in.

If you’re new to Hong Kong, it’s important to familiarize yourself with the community, rental costs, local amenities, and the advantages and disadvantages of each major commercial district. Choose a location that aligns with your budget and business requirements.

Keep in mind that most landlords in Hong Kong prefer to enter into lease agreements with entities that have a Hong Kong bank account. Landlords typically require a bank reference letter or bank statement for tenant background checks. If your company is less than a year old or has minimal capital, you may need to provide a personalor bank guarantee, or pay an additional deposit to secure the lease.

Grade A offices in Hong Kong represent modern commercial buildings with high-quality finishes. These buildings typically feature larger floorplates that offer spacious floor areas, and allowing for efficient layout and flexibility. The entrance lobbies and common areas are well-appointed, providing a high-caliber property management and concierge service.
Grade B offices feature average-sized floor plates with ordinary design and good quality finishes, offer flexible layout, and provide good management service. Parking facilities are not essential for Grade B office buildings.

Grade C office buildings are typically plain with basic finishes. They have a less flexible layout and provide minimal to average management. Lift services may be barely adequate or inadequate.

If your current lease is nearing its expiration, you are strongly recommended to review your existing lease and negotiate renewal terms with your landlord. If you have a “Renewal Option” that stated in the lease agreement, please check the details such as exercise option date, terms and any arbitration exercise etc. Alternatively, you can explore other options based on your future office requirements, including factors like size, amenities, and cost requirements.

This is not common that a tenant may have a surrender right that state in their lease 
Subject to the mutual agreement with your landlord, the tenant may be able to terminate the lease early through one of the two ways: 
i)    Through negotiation and mutual written agreement to surrender by compensation, usually the full outstanding liabilities of the lease, plus any administrative charges that may incur.
ii)    Through introduction of a replacement tenant to take up a new lease with terms and conditions agreeable to the landlord (usually at a higher or equal face rental, and you may need to subsidize to the replacement tenant)

In either case, you as the outgoing tenant will need the written permission and cooperation of the landlord and should expect to pay the landlord's share of the agency fee, legal costs and any other associated costs.

Lease terms in Hong Kong typically last for two to three years, although variations are negotiable. Some large tenants may take longer leases of six to nine year, but this is typically subject to rent reviews at the end of every third year at the prevailing open market rent.

As a general guideline, you’ll need approximately 90 - 120  square feet of gross space per employee. The specific space requirements will vary based on the efficiency of the area you choose and the nature of your business.

When selecting an office location, prioritize accessibility for both your clients and potential hires.

Some major office districts to consider:

Causeway Bay
Causeway Bay is Hong Kong’s leading retail district. It distinguished by its high-density offices occupied by businesses in the technology, insurance, media, and retail industries. As a prominent tourist destination in Hong Kong, the area boasts an excellent selection of food and beverage options. Its location, less than a 10-minute ride from Central, makes it a cost-effective choice for businesses seeking connectivity with Central at a more affordable cost.
 

Greater Central Area (Central, Admiralty and Sheung Wan) 
The Greater Central Area in Hong Kong serves as the primary business district, characterized by a cluster of Grade A office buildings and high-end consumption destinations. Known for having the highest rent in Hong Kong, this prestigious location is particularly favored by financial, government, legal, and other professional services for setting up their offices.

Kwun Tong
Kwun Tong, the most densely populated district in Hong Kong, is renowned for its vibrant industrial sector. As manufacturing in Hong Kong has declined, numerous industrial spaces have been repurposed into commercial buildings, fueling the district’s economic expansion. Owing to its excellent accessibility, reasonable rents, and substantial commercial developments, Kwun Tong continues to draw a diverse range of businesses. These include back office / operations of financial institutions,  sourcing companies, media outlets, engineering firms, and logistics providers.

Lai Chi Kok/ Cheung Sha Wan
Lai Chi Kok and Cheung Sha Wan, once characterized by non Grade A offices primarily occupied by blue-collar workers, have experienced a remarkable resurgence in recent years. The area has witnessed the development of multiple new commercial complexes by prominent Hong Kong developers. These complexes are strategically designed to attract a diverse range of businesses, including those involved in back-office operations, retail, and telecommunications.
 

Quarry Bay
Quarry Bay, situated on the eastern side of Hong Kong Island, is a bustling neighborhood known for its vibrant atmosphere and modern amenities. The district boasts a mix of architectural styles, reflecting its diverse history. The office spaces in Quarry Bay cater to a diverse range of business needs, from insurance, banks, legal, consultants to healthy & beauty. The area is seamlessly connected to the Central district through the Central-Wan Chai Bypass.

Tsim Sha Tsui
Tsim Sha Tsui is a vibrant tourist destination, boasting the highest density of offices, hotels, mega-malls, and a diverse array of food and beverage options in Hong Kong. Its strategic location, near the China ferry terminal and the Kowloon high-speed rail station, makes it a favored location for PRC companies and those with significant ties to mainland China. The area is predominantly occupied by businesses in the insurance sector, medical and beauty industry, toy manufacturers, banks, and purveyors of luxury consumer goods.

Wan Chai
Wan Chai, one of Hong Kong’s most historic districts, serves as a significant hub for conventions, exhibitions, and hospitality. Its superb connectivity, being less than 10 minutes from Central, has been further enhanced by the recent extension of the MTR Shatin to Central link, making Wan Chai an attractive location for businesses seeking to establish or grow their presence in Hong Kong. The district’s office community is diverse, encompassing sectors such as technology, insurance, and government institutions.

Wong Chuk Hang
Once an unassuming manufacturing enclave, this neighborhood has undergone a remarkable transformation thanks to the government’s revitalization efforts. Wong Chuk Hang now boasts stylishly furnished private offices and coworking spaces that are attractive to entrepreneurs and budget-conscious businesses. The considerably cheaper rents and seamless connectivity to the city center (just a 10-minute MTR ride to Admiralty) make it an appealing choice for those seeking a vibrant workspace.

Yes, Value Properties partners with CBRE to provide office design and retrofit services to our clients.