(Press briefings) Centaline enters UK Student Housing Market

(In Chinese Only)

2020-05-26

於本月24日中原集團創辦人及主席施永青先生、中原集團子公司董事施慧勤小姐、中原投資管理有限公司總裁葉明慧小姐以及中原投資管理有限公司董事總經理江若雯小姐舉行記者招待會,跟到場各媒體朋友分享房地產投資業務開展消息,以及介紹英國學生公寓這種房地產類別的特性。

施永青表示中原看中學生公寓的穩定性,特別於疫情期間表現仍非常理想。中原投資了的美國學生公寓於疫情最嚴重時出租率仍達95%,收租率亦達95%以上,成績斐然。施永青表示一般家長就算面對經濟困難,花在子女身上的教育經費很少有影響。而全球就讀大學的人數有加無減,變相對學生公寓需求提供龐大支持,這亦確立了學生公寓市場的穩健性。施永青表示這類型投資特別適合高淨值人士,因為他們一般也擁有高風險高回報投資如股票,生意,而投資部分資金到學生公寓有助分散投資,達到資產配置效果。例如碰上突如其來市況,也總有一些投資提供穩健回報。就如中原美國學生公寓的投資,於疫情嚴重時仍能獲得4%租金收益。

葉明慧續解釋投資英國學生公寓原因之一為其長期處於供不應求狀況。英國就讀高等教育人數接近200萬,而全英國大學所提供的宿位只佔大學生人數 16.9%,這使得 83.1% 學生必須於大學附近尋找居所,從而造就一個龐大學生租務市場。這反映在私營學生宿舍的平均出租率長期高達98%。而英國學生公寓投資回報於2020年疫情嚴重期間還達到4.9%,抗跌力可見一斑。  

施慧勤從用家角度為到場嘉賓作切身分享。 她表示自己和身邊很多朋友也於英國留學。 大家的首選一般是大學提供的宿位,因為既便利,又可享受大學氣氛。可惜大學宿位不足,所以他們很多都要在學生附近找地方居住,而他們一般也喜歡租住私人營運的學生公寓,因為一來還是會有大學氣氛,因為大家都是大學生。二來一般也相對自行租屋安全,因為私人營運的學生宿舍很多會提供拍咭安全系統、閉路電視,甚或乎一些比較大型的更有保安人員在場。 這讓入住學生及其家長甚為安心。 另外,由於私營學生宿舍以床位 / 房間為出租單位,學生無需以夾租形式承租,免卻夾租學生突然退租時讓承租學生承擔整份租金的風險。當然這類型宿舍一般不會再額外收取水電煤上網費用,支出有預算,亦避免自行申請以上服務的麻煩。一些具規模的宿舍甚至有閱讀室、遊戲室、健身室等設施,非常受學生歡迎。而由於私營學生宿舍能符合大部分用家需要,所以這些宿舍的出租率經常居高不下。而夾租住宅通常也淪為最後選擇,因為既沒有大學氣氛,沒有為學生而設的設施,同時還要承擔分租失敗風險等等。

江若雯進一步講解倫敦學生公寓市場情況。她表示倫敦是供求失衡最嚴重的城市,雖擁近30萬大學生,大學宿位卻只有44,033,即有85%學生需自己找尋居所。而倫敦很多大學也位於市中心,所以中原會收購的數個學生公寓項目也位處市中心Zone 1地區,10分鐘可步行到 Imperial College,騎單車或坐公共交通15分鐘亦能達 London School of Economics and Political Science (LSE), King`s College等大學。閒餘時步行到海德公園也只需5到7分鐘,各種生活配套也很充足,學生非常喜愛。

總結︰中原希望透過這次記者會讓香港市場了解更多不同投資類別,有助投資者分散風險,進行有效資產配置。

Centaline Investment Webinar Series

(In Chinese Only)

[中原投資網上講座系列]

英國整幢古典住宅投資優勢和策略

2020-08-12

英國物業宣傳近月在香港如雨後春筍,帶倫敦、曼徹斯特,伯明翰……樓盤一個接一個。投資者除咗可以大手買入新樓或者樓花以外,有沒有其他投資選擇呢?

中原投資講座由今個月起會定期跟大家分享英國各類投資型物業,希望大家對英國房地產市場有更多更廣嘅了解。第一彈當然是要介紹一下英國的首都倫敦的投資。 很多人覺得倫敦樓價高,租金回報低,但從長遠投資角度而言,這個備受全球投資者青睞的國際大城市在升值及保值方面依舊是最為穩健。而且眾多市場中,倫敦市房地產交投最為活躍,這也是投資要考慮的重大因素。

今次講座將針對倫敦市中心整幢古典住宅建築的收購及投資作出深入介紹。這些建築物位於倫敦市最受中產及高尚人士歡迎的地區,更是外國專才趨之若鶩的理想居所。

講座內容:

  • 倫敦市中心物業市場概況
  • 整幢古典住宅收購的投資優勢
  • 收購後的投資策略: 收租、翻新、拆售
  • 物業收購流程及相關稅務
  • 個案分析

賺投資上游的錢,才是真正的房地產投資。

講座日期:2020年8月20日
時間︰19:00 – 19:45
報名辦法︰https://www.facebook.com/events/1128741957512725/

Covid-19 Impacts on Centaline US Student Housing

Covid-19 Impacts on Centaline US Student Housing

2020-03-26

The two student housing apartments owned and managed by Centaline US Student Fund are located in San Antonio, Texas and Athens, Georgia, where the outbreak of COVID-19 is relatively contained. The local governments have already carried out policies to restrict social interactions and strengthen public hygiene.

Two universities (UTSA and UGA) are situated in the suburbs that are away from densely populated area. Both of them have suspended face-to-face teaching and switched to online learning, which make the virus spread more controllable.

Current Leasing

  • No suspected or confirmed case.
  • Most of the residents choose to stay in our premises.
  • Some choose to move out or stay home but they have to pay rent according to contract requirement.
  • No breach of contract has been recorded due to the outbreak.
  • According to our survey, residents appreciate our high standard of sanitation and disinfection and consider safer to stay than move out.

Pre-leasing

  • Our target tenants are locals so the retreat of international students has limited impact on preleasing.
  • FaceTime virtual tours and full-scale online application have been arranged for AY20-21 preleasing.
  • As for March, Eclipse on Broad has reached 93.8% pre-lease rate with around 6.5% rent growth. The Estates at San Antonio also leads the market with 63.2% pre-lease rate and 1.7% rent growth.

The Future

  • Student Housing outperformed other assets in the last financial crisis. Its strong resilience to recession and stable performance helps us to fight the epidemic impacts on economy.
  • The US Senate has approved a $2 trillion stimulus package to provide a jolt to an economy reeling from the coronavirus pandemic, including direct payment to citizens and deferment of federal student loans. This would help students to pass this difficult time.
  • Reduction of interest rate can further strengthen our cash flow.
  • Student population will not drop drastically because of the epidemic, which keeps the demand for student housing and occupancy rate in good shape.

Updates on Coronavirus Protocols

Updates on Coronavirus Protocols

2020-03-25

The novel coronavirus (COVID-19) spreads across the globe and rapidly affects communities across the USA. During this threat, the comfort and safety of all our student housing residents and staff remain our No. 1 priority. We have been taking several actions to ensure the safety and security of their students, employees, and residents.

Including:

  1. Update Information
    • Delegated website set up to provide the most updated information on COVID-19.
    • Residents will also receive all updates via emails and messaging.
  2. Online Services
    • Management and services are provided mainly by virtual interactions including messaging, email and phone calls.
    • Online rent payment is encouraged by waiving credit card fee
    • On-site office performs only emergency work orders.
  3. Communities Open for Residents
    • Our properties are opened for residents ONLY
    • No visitor is allowed to reduce social interaction.
  4. Sanitation and Disinfection
    • More frequent cleaning and sanitation of the property
    • Temporary closure of clubhouse, gym and common areas
  5. New arrangement for Pre-lease
    • Facetime Virtual tour is arranged for potential residents.
    • All pre-lease procedures are done online.

Recession Resilience of Student Apartments

Recession Resilience of Student Apartments

2020-03-18

With the coronavirus Covid-19 pandemic wreaking havoc around the world and the global financial markets, circuit breakers have been kicked in a few times and investors continue to panic and suffer losses. Governments are adopting aggressive measures to try to curb the virus spreading and the impact is being felt across the economy. Many economists forecast that it is very likely the global economy will slump. Facing uncertainties much greater than normal, what is a safer bet for investors who are looking for investing opportunities during this pandemic?

During economic recessions, it is a common belief that real estate properties would record lower rents and prices. However, many research have found that the “Recession Resilience” of student apartments is very high. During the 2008 Global financial crisis, the rental return of student apartments were very stable and the asset prices did not fluctuate greatly. After the crisis, it attracted many investments from large insurance companies, sovereign funds, pension funds, and so on.

Why did this happen? Research revealed that during economic downturns, redundant or unemployed workers chose to further their study in order to improve their job prospects. Governments also incentivised students to delay their graduation to reduce unemployment rates. It was therefore logical that the rent of student apartments increased against the market trend with more college students studying and in need of accommodation.

According to Green Street Advisors, the industry leader in REIT research, as long as GDP falls by 1%, the asset value of properties, such as shopping malls, offices and hotels, would fall by 3% -14%, and rents by 0.5 -1.5%. However, the rent of student apartments is contrariant to this trend. In the past 12 years (including the period of 2008 Global financial crisis), the rent of student apartments has been steadily increasing (2-5%).

Therefore, targeting the right sector and through astute selections of projects, it is still possible to find stable investment opportunities in student apartments during crises.

Successful UK Properties Acquisition

Successful UK Properties Acquisition

Centaline Investment Advisory has successfully represented a client to acquire two properties in Inner London. Both properties are Victorian style constructions in prime neighbourhoods. On behalf of the client, Centaline negotiated with the seller and arranged professional services, such as legal and surveyor services, to conduct legal, financial and structural due diligence. After closing the deals, Centaline helped the client to sign new leases with the tenants and purchase building insurances. In addition, Centaline managed to secure tax exemptions and save more than £1,100,000 stamp duty for the client.

Cenaline Investment Management has been appointed as the asset manager of these two properties and will be responsible for appointing local management company to carry out daily operations, including tenant management, property maintenance and reporting. Furthermore, Cenaline will provide renovation advice to the owner about future upgrades in order to add value to the properties and increase returns.

The housing market of London began to pick up in mid-2019, with rents showing positive growth for 13 consecutive months and an average rent increase of 1.2% in 2019. Knight Frank forecasts that starting from 2020, there will be a growth of the UK residential market at a rate of 1-5% in the next 5 years and the rent growth for the same period is 2%.

中原房產基金逾億拓美學生公寓

(In Chinese Only)

{信報}中原房產基金逾億拓美學生公寓

租金回報6厘 兩項目落實數個在洽

2019-05-22

本港樓價高企,投資回報偏低,近年引發新一波海外置業熱潮,連本地龍頭代理行中原集團也加入進軍海外物業市場行列,在3年前成立中原房地產基金,經過多年研究及評估,近期終落實投資美國學生公寓,斥資約1400萬美元(約1.092億港元)購入喬治亞州鄰近喬治亞大學的一個學生公寓,淨租金回報約6厘。該基金未來暫只 …

( 節錄 )

https://www1.hkej.com/dailynews/property/article/2140930/%E4%B8%AD%E5%8E%9F%E6%88%BF%E7%94%A2%E5%9F%BA%E9%87%91%E9%80%BE%E5%84%84%E6%8B%93%E7%BE%8E%E5%AD%B8%E7%94%9F%E5%85%AC%E5%AF%93?

中原私募基金 攻學生公寓市場

(In Chinese Only)

{經濟日報} 中原私募基金 攻學生公寓市場
宿位不足+需求殷切 長綫投資佳

2019-05-20

中原集團主席兼總裁施永青透露,集團旗下剛成立了房地產投資基金,在海外尋求穩定回報項目,當中特別看好美國的學生公寓市場,原因在於學生宿舍不足,集團已在當地購入數個項目長綫投資。

( 節錄 )

https://paper.hket.com/article/2353586/%E4%B8%AD%E5%8E%9F%E7%A7%81%E5%8B%9F%E5%9F%BA%E9%87%91%20%E6%94%BB%E5%AD%B8%E7%94%9F%E5%85%AC%E5%AF%93%E5%B8%82%E5%A0%B4