Related News
Home » Business » Real Estate Special
Iconic Wheelock Square draws big brands
September 27, 2011, Tuesday
|
Print Edition
Print Edition
PREMIUM Grade-A office space in Shanghai's Wheelock Square, the tallest and most sophisticated corporate tower in Puxi, has been snapped up by the world's leading luxury fashion brands. Wheelock Square's prestigious positioning on Shanghai's most fashionable shopping street, Nanjing Road W., plus its convenient accessibility and bright, spacious floor plates has seen it emerge as a nexus for luxury fashion and lifestyle headquarters in China.
Luxury fashion houses Coach and Burberry have taken up entire floors in Wheelock Square for their Shanghai headquarters, totaling over 2,100 square meters each. Leading Japanese skin care brand FANCL also occupies a whole floor. Other high-profile fashion tenants to have moved into Wheelock Square include Benetton; Tods; Ferragamo; Joyce; Longchamp; Geox and Shiseido.
Wheelock Square's central location, iconic sustainable architecture, spacious customizable floor plates and world-class management services are a perfect fit for the world's top companies.
As Fernando Ciccarelli, Vice President of Coach China, which has an entire floor in the building, states: "Coach is a leading international luxury handbag and accessory brand. As Wheelock Square is located near Nanjing Road, one of the most important thoroughfares for luxury retailers in the world, this address is consistent with our brand.
The quality of the construction and finishing also reinforce Wheelock Square's premium positioning and are consistent with Coach's luxury positioning."
With 61 stories of Premium Grade A office space, Wheelock Square is the pinnacle corporate tower of the Jing'An Central Business District, which has become Shanghai's most in-demand corporate real estate. CBRE's Shanghai Market Report for the second quarter of 2011 indicates that Nanjing Road W. and Jing'an District outperformed all other areas in Shanghai, with a vacancy rate of just 5.1 percent. This compares to a 13.7 percent vacancy rate for premium office areas in Pudong. The prestige of the Nanjing Road W. location has also driven office rental prices up 46 percent compared to secondary areas.
The report also revealed that the market has witnessed a strong rebound in office leasing interest and transactions, continuing into the second quarter of 2011. Low vacancy coupled with high demand across all market sectors for new buildings in Shanghai is sending rental prices soaring. Jing'An currently has the highest average asking rent at US$713.6 per square meter per year. Despite new openings in 2010 and 2011, the vacancy rate for premium offices citywide is a low 12.6 percent.
Located at 1717 Nanjing Road W., the 270 meter Wheelock Square is the highest building in Puxi. Covering a developed floor area of 150,000 square meters, Wheelock Square comprises a 61-story main tower (with 50 office floors), plus two annex buildings accommodating high-end retail and food and beverage outlets.
Developed by Wharf Holdings and designed by Kohn Pederson Fox, Wheelock Square redefines corporate prestige in Shanghai with its iconic sustainable architecture, central location, premium amenities and world-class management.
Founded in 1886, The Wharf (Holdings) Limited is a listed subsidiary of Wheelock and Company Limited. With prime real estate as Wharf's primary strategic focus, site acquisition, financing, development planning, design, construction and marketing are its core competencies. Mall management remains its strategic differentiation. Landmarks Harbour City and Times Square form the backbone of its prime real estate in Hong Kong. Wharf's strategic initiative of "Building for Tomorrow" in China pre-occupies the Group's asset expansion program with its medium-term target of increasing its mainland assets to 50 percent, including a land bank of at least 15 million square meters. The group now owns or manages 10 hotels in Asia Pacific, nine new hotels are in the pipeline to nearly double its scale by 2015.
Also contributing to Wharf's presence in the mainland are key port assets along the China coast, the most dynamic coastline in the world for cargo movement in the coming decades.
Wharf China Estates Limited is a subsidiary of Wharf overseeing the group's investment property business on the Chinese mainland. Wharf currently owns a land bank of 12 million square meters across a dozen cities in China comprising more than 2 million square meters of outstanding investment properties. Following its success in establishing landmark properties including Wheelock Square in Shanghai and a series of Times Square developments in Chongqing, Dalian, Shanghai and Wuhan, a pipeline of five International Finance Centers is under development in Changsha, Chengdu, Chongqing, Suzhou and Wuxi with Harbour City as the model.
Luxury fashion houses Coach and Burberry have taken up entire floors in Wheelock Square for their Shanghai headquarters, totaling over 2,100 square meters each. Leading Japanese skin care brand FANCL also occupies a whole floor. Other high-profile fashion tenants to have moved into Wheelock Square include Benetton; Tods; Ferragamo; Joyce; Longchamp; Geox and Shiseido.
Wheelock Square's central location, iconic sustainable architecture, spacious customizable floor plates and world-class management services are a perfect fit for the world's top companies.
As Fernando Ciccarelli, Vice President of Coach China, which has an entire floor in the building, states: "Coach is a leading international luxury handbag and accessory brand. As Wheelock Square is located near Nanjing Road, one of the most important thoroughfares for luxury retailers in the world, this address is consistent with our brand.
The quality of the construction and finishing also reinforce Wheelock Square's premium positioning and are consistent with Coach's luxury positioning."
With 61 stories of Premium Grade A office space, Wheelock Square is the pinnacle corporate tower of the Jing'An Central Business District, which has become Shanghai's most in-demand corporate real estate. CBRE's Shanghai Market Report for the second quarter of 2011 indicates that Nanjing Road W. and Jing'an District outperformed all other areas in Shanghai, with a vacancy rate of just 5.1 percent. This compares to a 13.7 percent vacancy rate for premium office areas in Pudong. The prestige of the Nanjing Road W. location has also driven office rental prices up 46 percent compared to secondary areas.
The report also revealed that the market has witnessed a strong rebound in office leasing interest and transactions, continuing into the second quarter of 2011. Low vacancy coupled with high demand across all market sectors for new buildings in Shanghai is sending rental prices soaring. Jing'An currently has the highest average asking rent at US$713.6 per square meter per year. Despite new openings in 2010 and 2011, the vacancy rate for premium offices citywide is a low 12.6 percent.
Located at 1717 Nanjing Road W., the 270 meter Wheelock Square is the highest building in Puxi. Covering a developed floor area of 150,000 square meters, Wheelock Square comprises a 61-story main tower (with 50 office floors), plus two annex buildings accommodating high-end retail and food and beverage outlets.
Developed by Wharf Holdings and designed by Kohn Pederson Fox, Wheelock Square redefines corporate prestige in Shanghai with its iconic sustainable architecture, central location, premium amenities and world-class management.
Founded in 1886, The Wharf (Holdings) Limited is a listed subsidiary of Wheelock and Company Limited. With prime real estate as Wharf's primary strategic focus, site acquisition, financing, development planning, design, construction and marketing are its core competencies. Mall management remains its strategic differentiation. Landmarks Harbour City and Times Square form the backbone of its prime real estate in Hong Kong. Wharf's strategic initiative of "Building for Tomorrow" in China pre-occupies the Group's asset expansion program with its medium-term target of increasing its mainland assets to 50 percent, including a land bank of at least 15 million square meters. The group now owns or manages 10 hotels in Asia Pacific, nine new hotels are in the pipeline to nearly double its scale by 2015.
Also contributing to Wharf's presence in the mainland are key port assets along the China coast, the most dynamic coastline in the world for cargo movement in the coming decades.
Wharf China Estates Limited is a subsidiary of Wharf overseeing the group's investment property business on the Chinese mainland. Wharf currently owns a land bank of 12 million square meters across a dozen cities in China comprising more than 2 million square meters of outstanding investment properties. Following its success in establishing landmark properties including Wheelock Square in Shanghai and a series of Times Square developments in Chongqing, Dalian, Shanghai and Wuhan, a pipeline of five International Finance Centers is under development in Changsha, Chengdu, Chongqing, Suzhou and Wuxi with Harbour City as the model.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
