Hong Kong: Goodman Group hosted the topping-out ceremony for Interlink, a landmark warehouse and distribution development in Hong Kong's strategically important Tsing Yi port district. This achieves a significant milestone for the project and sets a new benchmark for the Hong Kong logistics property market.
Some key features of Interlink:
- Valued in excess of HK$4.5 billion (approximately US$577 million)
- Gross floor area of over 2.4 million sq ft (224,000 sqm) on 24 levels
- 2 million sq ft (81 percent of the total gross floor area) has been pre-leased
- The only warehouse and distribution development in Hong Kong on track to be awarded a Gold Standard from the HK BEAM and a certification from LEED
Interlink is the largest new warehouse project in Hong Kong in nearly a decade and one of the largest industrial development projects currently being undertaken anywhere in the world. Located in the heart of Tsing Yi and immediately adjacent to Container Terminal 9 and Stonecutter's Bridge, it is strategically close to Hong Kong's container ports, the International Airport and major highways to mainland China.
Supply of efficient, well-designed warehousing space in Hong Kong is increasingly constrained as demand grows and existing buildings are converted to residential and commercial use. In this context, Interlink has bridged a substantial market gap since its launch was announced in December 2009. The space has been highly sought-after, with 81 percent of the total gross floor area already pre-leased to major international and local customers including: the two anchor customers, DHL Supply Chain (Hong Kong) Limited and Yusen Air & Sea Services (Hong Kong) Limited; and new customers, BEL International Logistics Limited; a further international logistics company; a well-known luxury fashion and accessories retailer; and a leading pharmaceutical and healthcare distributor.
Mr. Tom Wong, managing director, DHL Supply Chain, Hong Kong and Macau, says: "Being a long-term partner of Goodman in a number of strategic facilities in the Greater China region, we are excited to witness this important milestone of Interlink. With Interlink's excellent location and capacity, DHL definitely looks forward to the opening of our DHL Supply Chain MegaHub in Interlink to deliver enhanced benefits to our customers through resource consolidation and improved operations efficiency. Its unique green concept is also a perfect match with our group's GoGreen living responsibility focus."
Interlink is built in compliance with both the HK BEAM (Hong Kong Building Environments Assessment Method) and LEED (Leadership in Energy and Environmental Design) environmental assessment method. It has received a Gold standard pre-certification rating from HK BEAM and a certification from LEED.
Greg Goodman, group chief executive officer of Goodman, says: "We are very proud to have built this world class distribution and warehouse facility in such a strategic location. Interlink is the first development of its kind in Hong Kong to attain the Gold Standard from HK BEAM and we are delighted to have achieved this significant environmental performance benchmark.
"The Gold Standard is a testament to Interlink's high quality design and build, and it is this focus on quality and sustainability that has enabled Goodman to attract blue chip customers to this exceptional property. Our approach to the Interlink project is consistent with Goodman's aim to deliver the same outstanding quality for all of our developments and maintain our reputation as a leading provider of prime industrial space," Mr Goodman adds.
Mr. Philip Pearce, Goodman's managing director, Greater China comments: "Interlink is a flagship development in Goodman's Asian portfolio and complements our ongoing strategic expansion in Greater China and continued commitment to the region.
"In addition to Interlink, we currently have a number of commenced developments and secured land sites in China, which are predominantly in the Greater Shanghai and Beijing areas. We also have separate planning underway for our first development in Chengdu, which we expect to commence before year end. Our current development opportunities in China are capable of delivering in excess of 5.4 million sq ft (500,000 sqm) of new warehousing and logistics space for our customers. With the prevailing undersupply of prime logistics space in China, our development pipeline and the land sites we have secured ensure that Goodman is very well positioned to capture the exceptionally strong demand," Mr. Pearce concludes.