Susquehanna latest to pick up larger office space in Hong Kong’s Central, sources say
US investment firm Susquehanna International Group has agreed to lease more than 4,808 square metres (51,762 square feet) of office space at the Cheung Kong Center II, a prime office skyscraper developed by CK Asset Holdings in Hong Kong’s main business zone of Central, according to market sources. Neither Susquehanna nor CK Asset immediately replied to the South China Morning Post’s requests for…
Investment firm Susquehanna International Group has entered into a lease agreement for over 4,808 square meters (51,762 square feet) of office space at the Cheung Kong Center II in Hong Kong's Central district, according to market sources. The firm, currently headquartered at AIA Central on Connaught Road Central, will occupy three floors of the property, located on Harcourt Road.
Susquehanna's move to the new space comes as Hong Kong's office property market experiences a gradual recovery, with Central leading the upswing. Analysts point to the record lease by trading firm Jane Street in the district last year as evidence of growing demand for high-quality office space in Central. Vacancy rates in the central business district have fallen to 10.2 per cent as of the end of the second quarter, down from 14.5 per cent a year ago, with empty office spaces in the district declining to 10 per cent as of August.
Rents in Central have also risen 1.9 per cent quarter-over-quarter, and Colliers forecasts that rental corrections are unlikely in the second half of the year, with a forecasted 10 per cent increase in Central and Admiralty rents for the year.
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