AT A GLANCE VALUATION & ADVISORY SERVICES I ASIA FEATURE STORIES Retail Consultancy in Busan, South Korea We completed a retail consultancy study for a landmark shopping mall in Busan, South Korea. The client has acquired the mall and is planning to restructure it in order to improve its value. The mall comprises eight retail floors and basement car parking with a total gross lettable area of about 58,000 square metres. See more details > Other SUCcESS STORIES CapitaMalls, China A valuation report was completed for a portfolio of five properties located in Beijing and Zhengzhou. The portfolio consists of CapitaMall Anzhen, CapitaMall Shuangjing, CapitaMall Wangjing in Beijing; CapitaMall Erqui in Beijing and CapitaMall Jinshui in Zhengzhou. The total gross floor area of the portfolio is over 308,000 square metres. Suzhou Cultural & Tourism Development, China Colliers was appointed by the Suzhou Culture & Tourism Development Group to conduct a development consultancy study of the Suzhou Ancient Canal with an area of over 527,000 square metres. We advised on the re-positioning of the development mix as well as the upgrade and enhancement plan. Part of the scope was to analyse Suzhou s tourism and retail market by conducting interviews and case studies. Urban Regeneration Plan, Thailand The Port Authority of Thailand (PAT) appointed Colliers to undertake advisory services for the urban regeneration plan of their 930-acre (376-hectare) land bank located adjacent to the Central Business District in Bangkok. The site is envisioned to become a new urban area in Bangkok that will provide additional commercial, residential and recreational space. We looked at the master development plans and various investments scenarios were analysed in terms of financial returns, social benefits and suitability under the regulatory framework. Further advice was given on the feasibility for project fund raising and future operation and management. See more details > events Given the growing concern over the volatile situation across all regions and its impact on the property sector, Colliers Hong Kong hosted a press conference on 21 June 2012. The discussion focused on the local residential market and the global economic influence particularly the European financial situation. Richard Raymundo, Director, and Gregory Tam, Associate Director of our Hong Kong team, together with Ricky Poon, Executive Director of Residential Services, gave their views on the overall situation and their forecasts for the residential market. The press conference was well received and attended by journalists from key financial publications. Amit Oberoi, National Director of Valuation and Advisory Services India, was invited to speak at a three-day Advanced Real Estate Valuation program organized by the Indian School of Business in Hyderabad, a leading business school in India. Amit chaired a session on real estate valuation and also shared some case studies on township developments in India. Colliers International Accelerating success. www.colliers.com Suite 5701 Central Plaza, 18 Harbour Road, Wanchai, Hong Kong (852) 2828 9888 Main (852) 2828 9899 Fax CONTACTS DAVID FAULKNER Executive Director Valuation & Advisory Services I Asia Direct +852 2822 0525 Fax +852 2107 6017 david.faulkner@colliers.com
Mall located in Eastern Busan, a prime tourist and shopping destination SUCCESS STORY CONSULTANCY AND VALUATION SERVICES FOR A RETAIL MALL IN BUSAN, KOREA TEAM Hong Kong Valuation and Advisory Services STATISTICS Site area: over 8,500 sq m Mall GFA: over 57,700 sq m SERVICES PROVIDED Retail Consultancy Valuation www.colliers.com CHALLENGE The subject property is a landmark shopping mall located in the eastern area of Busan City, a popular tourist and shopping destination. It comprises over 57,700 sq m of retail spaces. Originally a prime destination, its popularity waned in recent years due to the development of new areas in Busan, frequent tenant turnover, a high vacancy rate and increased competition with other shopping malls. The challenge was to devise a detailed merchandising plan based on extensive research, enquiries and analysis that will boost the profile of the mall. STRATEGY We provided the client with a valuation of the subject property. We also undertook an extensive market study in terms of both existing competition and future prospects and subsequently carried out a feasibility study by proposing three merchandising plans. Discounted Cash Flow (DCF) analysis was then carried out to evaluate the net present values of the property and to find the most profitable merchandise option. We also included detailed budgets and timelines for each possible scenario. SERVICES We provided the client with an in-depth overview and background of the property (such as location, surround developments and competitor analysis, accessibility, tenant mix review, site problems, topography, site dimensions, a general description of the development, and title particulars, etc.). Each merchandising plan was detailed including a comprehensive tenant mix analysis and particular features and improvements to be made to the mall. We also provided a commentary for the Busan retail market and an overview of demographics and economics. RESULTS The report was submitted for internal reporting. The client was highly satisfied with our comprehensive report, recommendations and timely submission.
AT A GLANCE Other SUCcESS STORIES Resort Development in Hue, Vietnam We completed the conceptual development recommendation and valuation of a 1.5 million square metre mixed-use development in Hue, Vietnam. The ocean front site consists of villas, hotel and resort components and is about 30 minutes-drive from Danang International Airport. Urban Renewal Project, Hong Kong We were appointed by the Lands Department of Hong Kong Government to participate in Project K7 in Kwun Tong, a major redeveloment scheme in the territory. The purpose is to make offers to claimants under the Lands Resumption Ordinance. There are over 150 interests valued, involving residential flats, retail shops and special properties. Retail Project, Chengdu, China Perennial China Retail Trust Management Ptd Ltd appointed Colliers to prepare a valuation report for a retail property to be developed in the east of Jinxiu Avenue in Chengdu. The development is an eight-storey retail complex with four basement levels with a total gross floor area of over 455,000 square metres. Marine Vessel, Philippines We valued an 873-gross ton marine fishing vessel for Security Bank Corporation. The fishing vessel is owned by TSP Marine Industries and is located in General Santos City, Philippines.
Integrated Project in Jakarta, Indonesia PT Plus One International appointed Colliers to conduct a market feasibility study for an integrated development in Kemayoran, Central Jakarta. Dubbed as The Dragon Palace, the project comprises several high-rise blocks including residential apartments, offices, a retail centre and a hotel with a total site area of 150,000 square metres. Pingtan Changfu Project, Fujian, China Fujian Pingtan Changfu Culture Real Estate Co., Ltd appointed Colliers to conduct development consultancy for a large scale mixed-use project with a total land area in excess of 157,000 square metres. The project comprises of retail, residential and a museum. The assignment included market research, case studies, competition analysis, project positioning and financial analysis. The Taipei City Government, Taiwan The Department of Finance of Taiwan appointed Colliers to undertake a consultancy project for the tender of a land parcel in Shilin District in Taipei City. The 4,100-square metre site is zoned for commercial use. Shopping Centre in Hanoi, Vietnam Colliers completed a retail consultancy study for Lotte Department Store. The proposed development is a five-storey retail complex located in Ba Dinh District, Hanoi with a total gross floor area of 40,000 square metres. We conducted a detailed consumer survey and competitive analysis of major shopping centres in Vietnam. Portfolio Valuation in Singapore AIMS AMP Capital Industrial REIT Management Limited and Ascendas Real Estate Investment Trust appointed Colliers to value their portfolio of industrial buildings in Singapore. The total floor area of the properties is over one million square metres with an aggregate total market value of over S$1 billion.
Business Plan for a Site at Bangalore International Airport, India Bangalore International Airport Authority appointed Colliers to provide a comprehensive business plan for a proposed land side development at the International Airport. We carried out an in-depth analysis of various asset classes along with industry analysis of almost all major sectors including aeronautics, bio-technology, leisure and entertainment. Distressed Property in Delhi, India Colliers was appointed by ICICI Bank to provide consultancy services for a distressed/underperforming manufacturing plant with facilities spread over Greater Noida, Ghaziabad and Uttar Pradesh. We provided the client a valuation and a disposal strategy including the feasibility in change of land use from existing industrial to residential use and advice on the required procedures. Development Consultancy, Shanghai China Media Capital appointed Colliers to conduct a development consultancy study of the Shanghai Dream Centre with an area of over 106,000 square metres. Market research covered areas such as the Shanghai South Bund, North Bund and the vicinity of the Expo site. Analysis was done on core competing projects in Xuhui Bingjiang. Colliers provided the development recommendations and financial analysis of the project.