Champion REIT Hong Kong portfolio consists of Three Garden Road in Central in Hong Kong's central business district, and the office and retail portion of Langham Place, a mixed-use complex in Mongkok.
Three Garden Road occupancy recovers ahead of expectations as corporates look to lock in favorable rents in the current downturn.
Bears
Multinational companies continue to shift out of Hong Kong while Chinese corporates seek other gateway cities for regional expansion, resulting in weak office demand.
Champion Real Estate Investment Trust, or Champion REIT, owns and invests in income-producing office and retail properties, with a focus on Grade A commercial properties in prime locations. In Hong Kong, the trust holds two assets in Three Garden Road in the central business district and the retail and office components of Langham Place in Mongkok. Great Eagle Holdings listed Champion REIT with a 91.5% stake in Three Garden Road in 2006 and injected the Langham Place office and retail portions into the trust in 2008. The trust acquired the remaining stake in Three Garden Road and unified ownership of the property in 2013. Great Eagle Holdings retains a 68.3% stake in Champion REIT. In 2021, the trust entered into a joint venture to acquire a 27% stake in 66 Shoe Lane in London.