CJ Buildng

Prime commercial office building with 20 floors, 2 basements, 1 mezzanine and a rooftop level Grade B+ office building located on 2-4-6 Le Thanh Ton street, District 1, HCMC. Total GFA is 19,414 sqm (includes basements) with NLA of about 13,663 sqm. Land area is about 1,364 sqm.

The leasehold title is valid from 2007 to and expires in 2057. The leasehold period is for 50 years.

The seller was reported to be Gemadept Corporation and the buyer was reported to be CJ Group. The transaction was said in Q4 2013. 85% stake in the local Special - Purpose Vehicle (SPV) company, with a put option in place for remaining 15%. Note the seller occupied 22% of the NLA which will now be taken over by the buyer and used for owner occupation.

As reported in Q3 2018, the office sector occupancy rate is 97% while the average asking rent is about US$30 per sqm plus service charges of US$6.5 per sqm excluding VAT. Minimum lease term is 2 years and motorbike parking and car parking fees advised to US$7 and US$70 per month.

In the beginning Q4 2019 the average monthly asking office rent is reported to be about US$28 per sqm per month excluding US$6.5 service charges and excluding 10% VAT. Fees for overtime US$0.1 per sqm per hour.

The preferred lease term is 2 years and a 3 month deposit is required. Motorbike and car parking fees are US$10 and US$200 per month respectively.