Spring REIT currently owns all the office floors of Office Tower 1 (including office floors 4 to 28) and Office Tower 2 (including office floors 4 to 32) in China Central Place, Beijing, as well as a total of approximately 600 car parking spaces located in the underground levels of the two office buildings (the "CCP Properties"). The CCP Properties were developed by Beijing Guohua Real Estate Co., Ltd. in 2006.
The office towers at China Central Place are among the most highly regarded Premium Grade office properties in Beijing. According to a market report of DTZ Consulting in March 2013, only ten office properties in Beijing' s Central Business District (CBD) are Premium Grade, representing the highest quality standards of any office building. Premium Grade is also known as International Grade A office or Prime office buildings by other real estate consulting firms.
The CCP Properties are strategically located in the southeast corner of Beijing' s traditional CBD and the central core area of the expanded CBD, a traditional hub for international business and activities, as well as home to the Asia or China headquarters of many Fortune 500 companies and multi-national corporations. Located approximately 7 km away from Tian' anmen Square and 20 km away from the Beijing Capital International Airport, the CCP Properties enjoys convenient accessibility with direct access to Subway Line 1 and Subway Line 14 through underground walkway. The CCP Properties also have an exit on Chang' an Avenue/Jianguo Road, the main east-west artery of Beijing. The strategic location of the CCP Properties allows tenants and visitors to avoid heavy traffic congestion in the center of the traditional CBD.
The REIT Manager believes that the design and facilities of the CCP Properties are among the highest quality of any office building in Beijing. In recognition of its excellent construction and engineering, the CCP Properties, together with Office Tower 3 at China Central Place, has won numerous awards, including Top 20 Office Buildings in China presented jointly by www.funxun.com, China Office Building Industry Association and Nanfeng Think Tank in 2012; Model Business Service Building in Beijing by Beijing Municipal Commission of Commerce in 2012; and National Construction Decoration Design Award by China Building Decoration Association in 2008.
The CCP Properties form part of China Central Place, a prime mixed-use development complex in Beijing. China Central Place complex comprises:
The four components of China Central Place form a community with comprehensive facilities and services, which significantly enhance the business activities and daily life of its office tenants. The CCP Properties of Spring REIT are poised to benefit from the synergies between these four components of China Central Place and its prestigious status, which ultimately reinforces the positioning of the CCP Properties as a leading Premium Grade office development in Beijing' s CBD and helps to promote the business of the CCP Properties.
|Property||Office Tower 1 and Office Tower 2 of China Central Place|
|Completion date||December 2006|
|Location||Southeast corner of Beijing' s traditional CBD and central core area of the expanded CBD|
|Usage||Premium Grade office buildings|
|GFA||Office space: 120,245 sq.m.
Car parking spaces: 25,127 sq.m.