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The Beijing Land Reserve Centre sought to dispose its 19,975-sqm land, CBD NW07-1, through the simplest, most transparent transaction process available. This is Beijing’s first CBD site to be offered in the open market, and the client turned to Jones Lang LaSalle to act as the sole and exclusive marketing advisor.
Analysing all possible options for the sale of the site, our firm determined that a sale through Public Tender would best meet the client’s objectives. Thereafter, we conducted a marketing campaign that covered China as well as Asia Pacific regions to promote the sale. Our promotions led to interest from 30 domestic and regional investors which all purchased the official public tender documents - a testament to the effectiveness as marketing advisor.
In June 2004, the CBD NW07-1 property was successfully sold to a local developer for USD 85 million through a Public Tender. The transaction value was 10% above the reserve price, proving once again Jones Lang LaSalle’s ability to deliver tangible returns for our clients.