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Real Estate Transactions

Acquisitions and disposals of industrial, residential, office, retail and commercial properties in Hong Kong.  Services include :

  • drafting, negotiating, advising and commenting on tender documents and conditions of sale, auction agreements and other ancillary documents;
  • investigating title and advising on title issues, and issuing title certificates;
  • advising on illegal structures and impact on marketability;
  • applications and grant of lease modifications and land exchange;
  • advising on legal mechanism of sub-division of floors and units including drafting of sub-deeds of mutual covenant;
  • advising on prevailing law and statutory requirements on compulsory sale under Land (Compulsory Sale for Redevelopment) Ordinance (Cap.545); and
  • advising on corporate restructuring and internal transfer under section 45 of Stamp Duty Ordinance (Cap.117).

Our Real Estate lawyersacted for local and PRC corporate investors, listed companies, property developers, trust funds and joint venture consortium.

Major transactions handled include, amongst others :

  • acquisition of a whole floor of a commercial property at No.151 Gloucester Road (now known as AXA Centre);
  • acquisition of a whole floor of a commercial property at No.66 Gloucester Road (now known as Pico Tower);
  • disposal of two office units of Lippo Centre; and
  • acquisition of an industrial building in Kwai Chung at the consideration of HK$255,000,000.

If you would like to know more about our real estate practice or how we can help your business, please contact us at (852) 2810 1212 or at property@onc.hk.

Please refer to our articles in ‘Knowledge’

Recommended Posts

Both the Homebuyers Who Purchase Residential Properties in the Name of Others in Order to Pay Lower Stamp Duty and the HKPR Who Provided Their Names Are Subject to Criminal Liabilities and Other Risks
Introduction In order to cool down the property market in Hong Kong, in November 2016, the Hong Kong Government increased the ad valorem stamp duty (AVD) rates for all residential property transactions to a flat rate of 15% of purchase price, irrespective of the amount or value of the consideration of the residential property with an exemption that a Hong Kong Permanent Resident (HKPR) acquiring a residential property where he/she is acting on his/her own behalf and does not own any other residential property in Hong Kong at the time of acquisition will be subject to lower rates (i.e. AVD at Scale 2 rates) (the “Exemption”). It might be tempting for a non-HKPR and/or a HKPR who already owned other residential properties in Hong Kong (collectively the “homebuyer”) to purchase residential properties using the names of other HKPRs who do not own any residential property in Hong Kong in order to save stamp duty. The homebuyer might agree or make an arrangement with a HKPR who does not own any residential property in Hong Kong to use the name of the HKPR as the buyer of the residential property (the “Transaction”). However, both the homebuyer and HKPRs who provided their names might be subject to criminal offences and other risks and liabilities under such circumstances.
Raising Requisitions in the Context of Discrepancies Found in Provisional and Formal Agreements
Introduction In several of our past newsletters, we have discussed issues relating to the sale and purchase of properties involving unauthorised building works. In general, the existence of unauthorised building works in a property affects its vendor’s ability to fulfil its obligation of showing good title to such property. As such, in relation to such transactions, it is not uncommon to see clauses in the sale and purchase agreement which preclude the purchaser from raising requisitions regarding specific unauthorised building works found in the property. However, where the wordings of such clauses in a provisional agreement are different from that in the subsequent formal agreement, there may be significant impact on the extent of requisitions to which the purchaser of the property is entitled to raise. This principle is well illustrated in a recent Hong Kong Court of First Instance decision.
Can a Vendor Avoid Challenge on Title When Selling a Property with Unauthorized or Illegal Feature(s)?
Introduction In Hong Kong, it is not uncommon that some parts of a property may have unauthorized or illegal structures or alterations. When such property is sold, it is often in the vendor’s interest to insert provisions into the sale and purchase agreement to limit the extent of its duty to show and give title to the property. In Channel Green Ltd v Huge Grand Ltd CACV 174/2013, the Defendant vendor successfully relied on a contractual provision to bar certain requisitions from the Plaintiff purchaser and forfeited the deposit paid under the sale and purchase agreement when the Plaintiff purchaser refused to complete the transaction.
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