Grade A Offices Hong Kong
JUN 2022 | LAST UPDATED
The Hong Kong office market is conventionally grouped into a number of classes according to a definition based on property quality. The Hong Kong Rating & Valuation Department, a government body, provides a commonly used classification system, ranging from older small floor plate buildings (Grade B & C) to those developed by Portfolio Landlords, with the latest in technology and sustainability (Grade A).
Grade A is the highest generally recognised category. While there is no set guideline by the government grading system, the following summary provides an insight to an industry wide classification of three quality tiers: Grade A, Grade AA and Grade AAA.
WHAT IS A GRADE A OFFICE?
Grade AAA office buildings are effectively Premium Grade offices and are typically the benchmark for excellence in terms of specification.
- Raised floor of at least 150 mm
- Backup power and redundancy to accommodate investment banking requirements
- Dual Riser space
- Floor to ceiling height of at least 2.6 m
- Excellent vertical transportation
- Car parking provision
- Green building certification (i.e. LEED, BEAM Plus, WELL Building Standard)
- Proactive upgrading and modernisation program
- Floor plate in excess of 6,000 sq ft net
- Good quality, planned, preventive maintenance program
- Easy access to public transport (MTR | taxis | buses)
- Close proximity to hotels, restaurants and retail
- Good vertical transportation
- Centralised air-conditioning system: delivered via floor or ceiling
- Chilled water supply for server room
- Floor plate in excess of 4,000 sq ft net
- Proximity to other businesses
- International property management standards
- Strong tenant mix
CENTRAL GRADE A VACANCY %
Hong Kong’s Grade A office market totals approximately 94 million sq ft. The Central business district accounts for around a quarter of this supply.
GRADE A OFFICE rENTS | HONG KONG
The Central district has the largest rental spread in the Hong Kong market ranging from the highly specified Grade AAA offices to more modest Grade A buildings in the core and fringe areas with standard technical specifications. Learn more about the Central district here →
Grade AAA - HK$125-135 PSF
Grade AA - HK$105-130 PSF
Grade A - HK$50-120 PSF
Standard Chartered Bank Building →
Shanghai Commercial Bank Tower →
Sheung Wan and Admiralty lies directly adjacent to Central on either side. With a few exceptions, a large number of strata-titled office towers are clustered in these districts. Being strata-titled in nature, these towers are heavily discounted from the portfolio landlord owned commercial developments. Learn more about the fringe Central district here →
Grade AA - HK$120 PSF
Grade A - HK$40-70 PSF
WAN CHAI | CAUSEWAY BAY
Wan Chai provides more economical accommodation than Central with Grade A offices The majority of office towers in Wan Chai are strata-titled.
Causeway Bay has historically been a popular business district to house the office space of multinational retail firms.
Learn more about the Wan Chai & Causeway Bay district here →
GRADE AA - HK$80 PSF
Grade A - HK$40-70 PSF
China Online Centre
Great Eagle Centre
Sun Hung Kai Centre
World Trade Centre
HONG KONG EAST (NORTH POINT, QUARRY BAY & TAI KOO)
This district boasts quality, cost effective accommodation for larger occupiers, in a modern office cluster. Learn more about the Hong Kong East district here →
Grade AA - HK$65-75 PSF
Grade A - HK$30-60 PSF
Island Place Tower