Victoria Dockside Sets Benchmark with Office Concept and Record-breaking Rental

Real Estate Press Releases Friday May 11, 2018 12:14
HONG KONG--11 May--PRNewswire/InfoQuest
  • Adrian Cheng Creates First Wave of Excitement at the 3m Sqft Art and Design District

Following its initial launch in April 2018, Victoria Dockside, the ambitious 3 million-square-foot, HK$20billion (US$2.6 billion) global art and design district along Hong Kong's iconic waterfront, sets a new record in office rental rate in Tsim Sha Tsui, Hong Kong. Two new tenants at K11 Atelier, situated within Victoria Dockside, are taking up over 10,000 sqft in office space, both at a record-breaking HK$120/sqft, the highest in Tsim Sha Tsui and the entirety of Kowloon.

Created by Founder of K11 and Executive Vice-Chairman and General Manager of New World Development Adrian Cheng, Victoria Dockside is one of the biggest redevelopment projects in Hong Kong's history, and is setting new benchmarks in office environment, cultural happenings, as well as art and design offerings to bring in the next-generation workforce, global millennials and creative talents. When it fully opens in 2019, Victoria Dockside is poised to become a new global cultural destination, taking Hong Kong to a new cultural frontier.

Announcing the phase one launch of Victoria Dockside on 26 April 2018, Adrian Cheng, Founder of K11 and Executive Vice-Chairman and General Manager of New World Development, was joined by over 1,000 local and international influencers and guests from art, creative media and lifestyle sectors at the Make Waves party at K11 Atelier, the first office building under the K11 brand. The venue K11 Atelier sits within Victoria Dockside, and is the first workplace to integrate art, people and nature in one state-of-the-art building. It also redefines the modern work space with its Vertical Creative City concept, creating an inspiring office environment for the next-generation workforce.

The theme "Make Waves" hints at the disruption brought by Victoria Dockside. At the launch event, guests were led on a fascinating journey through the "Make Waves" exhibition which charts the evolution of the district from 1845 to the present.

Reviving the iconic Tsim Sha Tsui Waterfront

When the site was still known as Holt's Wharf in the early 20th century, it already played a pivotal role in the city's rise to the busiest port in the world, establishing Hong Kong's reputation as the Gateway to the East. Following the opening of New World Centre in 1978, this area became a stronghold for international brands in the city and hosted some of the most innovative "happenings" Hong Kong ever witnessed.   Forty years on, now as Victoria Dockside created by the cultural enterprise New World Development, it is set to trigger a new wave of disruptions in design, the arts, culture and sustainability. It will be the game-changer that will once again, break through traditions to create a new paradigm for the world.

Cheng, the mastermind behind the US$2.6 billion Victoria Dockside, said, "Our vision is to make waves at this world-class destination by providing a blank canvas for artists, designers and businesses to maximise their creativity and help create one of the most exciting new neighbourhoods of tomorrow.

"We are committed to establishing new frontiers with Victoria Dockside for Hong Kong. It will offer a kaleidoscope of experiences against the backdrop of one of the most impressive views in the world. This new district will provide a space for locals and international visitors alike to unwind from the chaos of everyday life. And the site will once again become a landmark in Hong Kong, bringing new disruptions and a new scene to the city."

#MakeWaves in Design

Ten years in the making, the Victoria Dockside masterplan was led by Cheng and created by acclaimed architectural firms, and over 100 designers and consultants across the globe, including renowned names such as Kohn Pedersen Fox (KPF), and landscape architect James Corner Field Operations (JCFO). At K11 Atelier, the interior of the mixed-use office tower was crafted by the Japanese Design studio Simplicity, best known for creating minimalist, people-centric hospitality spaces.

#MakeWaves in Art and Culture

Fringing Victoria Dockside are the newly relaunched green space Salisbury Garden and Avenue of Stars – the promenade is scheduled to reopen in February 2019. These public spaces, both re-designed by New York Highline designer James Corner with the participation of Hong Kong designers such as LAAB, One Bite Design Studio, Urbis Limited and Ronald Lu & Partners, make for a welcoming blank canvas for artistic installations, performances, open-air concerts and other cultural events such as movie screenings. These spaces also offer the perfect view of the Victoria Harbour fireworks display.

#MakeWaves in Workplace

Key to the first wave of Victoria Dockside is K11 Atelier, the first K11-branded Grade A office building with in-house cultural programmes to connect the next-generation workforce. Prior to today's announcement, K11 Atelier already overtook ICC as the most expensive office building. With its new office rental record at HK$120/sqft, K11 Atelier is rivalling its peers in the traditional CBD Central, while its in-house cultural programmes and unique design also set it apart from other Grade A office building in Hong Kong. K11 Atelier's main lobby doubles as a Community Space with a coffee kiosk and breakout area surrounded by greenery and natural wood. It offers an exceptional ambience for creative minds to connect, collide and inspire each other. K11 Atelier tenants will also be offered access to the 'K11 Atelier Academy', a myriad of programmes ranging from spiritual and physical wellness, to productivity, success, culture, creativity, and team building.

#MakeWaves in Sustainability

Referencing the United Nations' Sustainable Development Goals, Cheng pioneered the "New World Sustainability Vision 2030" and steered the Group to curate business offerings that reflect the elements and benefits of "Green", "Wellness", "Smart" and "Caring" in every project. This vision is fully realized in Victoria Dockside.

K11 Atelier holds two top-class green building certifications, and its energy usage intensity is 1.5 times lower than typical Hong Kong office buildings. The facade of K11 Atelier is integrated with one of HK's largest photovoltaic solar systems, creating enough power to operate around 220 coffee machines.

The entire district is set to fully open in 2019, with a new wave of announcement coming in June 2018. It will also feature an ultra-luxury Rosewood Hotel and Rosewood Residences. The new art and design district will reinvigorate the Victoria harbourfront and create the most exciting new neighbourhood for both Hong Kong residents and the city's 60 million annual visitors.

About New World Development Company Limited

Founded in 1970, New World Development Company Limited ("The Group", Hong Kong stock code: 00017) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A premium brand infused with a unique personality defined by The Artisanal Movement, the New World Group's core business areas include property development, infrastructure and services, retail, hotels and serviced apartments. As of 31 December 2017, the total asset value of the Group was HK$468.1 billion. The Group has an effective interest of approximately 61% in NWS Holdings Limited (Hong Kong stock code: 00659), approximately 75% in New World Department Store China Limited (Hong Kong stock code: 00825) and wholly owned in New World China Land Limited.

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Caption -   Victoria Dockside is set to fully open in 2019

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