Spring REIT Buys Guangdong Mall from Huamao Property
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Hong Kong-listed Spring REIT has agreed to buy the Huamao Place shopping centre, located in Huizhou, Guangdong Province.
Spring will pay RMB1.65 billion (US$241 million) for the mall, a seven-storey property, part of the larger integrated development by Beijing Guohua Real Estate, known as Huizhou Central Place (pictured), which also includes three Grade-A office towers, three residential buildings and a serviced apartment complex.
Located in the Huizhou CBD, the mall is surrounded by major roads, the Huizhou People’s Government complex and other public facilities and attractions, such as the Huizhou Convention & Exhibition Centre, the Huizhou Stadium, the Huizhou Museum and the Huizhou Science & Technology Museum. It is accessible by expressways and intercity railway to the rest of the Greater Bay Area.
Current tenants include international and local fashion retailers, jewellers, chain restaurants, personal care and cosmetic shops, a supermarket and a cinema.
Questions & Answers
Q.What is the total value of the acquisition by Spring REIT?
What is the total value of the acquisition by Spring REIT?
Spring REIT has agreed to pay RMB1.65 billion for the Huamao Place shopping centre. This amount is equivalent to US$241 million, indicating a significant investment in the property.
Q.What kind of businesses are currently operating within the Huamao Place shopping centre?
What kind of businesses are currently operating within the Huamao Place shopping centre?
The mall hosts a variety of tenants, including international and local fashion retailers, jewellers, chain restaurants, and personal care and cosmetic shops. A supermarket and a cinema are also present, offering diverse services.
Q.What other facilities are part of the broader development where Huamao Place is located?
What other facilities are part of the broader development where Huamao Place is located?
Huamao Place is part of Huizhou Central Place, a larger integrated development. This complex also includes three Grade-A office towers, three residential buildings, and a serviced apartment complex, making it a comprehensive site.
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