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大和:恒地(0012.HK)投得的中环地皮具战略意义 重申买入评级
格隆汇 11-09 12:53

大和发表研究报吿指,恒地(0012.HK)以508亿元投得的中环新海滨商业地,是其在中环的第二个投资,该地有潜力,亦具战略意义。然而,最终仍顶取决于执行的质量。该行重申集团“买入”评级及目标价48港元。

恒地早于2017年投得中环美利道停车场商业地,大和相信,是次地皮或继续延续该定位,打造新型写字楼,而不仅仅是一个工作场所,亦同样是一个购物、娱乐及互动的地方。该行预计,如果混合平均租金能达到每平方呎130港元,该项目可提供4%的毛收益率。尽管香港和中环商业物业市场面临普遍的不确定性和挑战,该行相信这仍然是可能的。

该行预期,恒地将透过出售非核心资产及增加房地产销售为收购提供资金,使其最高净负债率保持在38%以下。该行考虑预期集团的资产出售进展会加快,上调其2022至23年的每股盈利测预1%。

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