'Alan Yip is dynamic, knowledgeable, with strong business acumen.’The Legal 500 Asia Pacific (2019)
Compliance with First-hand Sales Legislation
- One of the few solicitors in private practice who have direct involvement in the entire legislative process of the Residential Properties (First-hand Sales) Ordinance (the “Ordinance”), being the first legislation in Hong Kong regulating sale of first-hand residential properties, by providing full-scale comprehensive advice on the impact of the Ordinance on the real estate industry: he was instructed to represent The Real Estate Developers Association of Hong Kong to negotiate with the Government on the entire legislative process relating to the Ordinance since it was still in its Bill form in 2011.
- The current version of the Guidelines, Practice Notes and FAQ on the Ordinance issued by the Sales of First-hand Residential Properties Authority were issued with his active involvement and drafting through the negotiations with the Government.
- Advising many key developers as “compliance checker” for most of the residential projects available in market. The role is to review and check all the sales related materials (including sales brochure, price list, sales arrangement document, showflats, register of transactions, advertisement, promotional materials, website, etc.) to ensure compliance with the requirements under the Ordinance.
- Delivered over 50 seminars to over 800 client attendees since 2012, most of them are the Hang Seng Index’s Properties constituents, to provide introduction and training for compliance with the Ordinance.
- Interviewed by newspapers and magazines to share views on hot topics in town regarding the compliance/contravention of the Ordinance (e.g., Sing Tao Daily, The Hong Kong Economic Journal, iMoney magazine).
Commercial Real Estate (M&A, Sale and Purchase of Shares and Joint Venture)
- Acted in the HK$9.95 billion acquisition of the entire Grade A office building at No. 18 King Wah Road, North Point through the acquisition of the equity interest in the property holding companies. The brand new 22-storey office building comprises a total gross floor area of 329,800 square feet located at a prime location in North Point enjoying a full sea view. The price tag equates to approximately HK$30,169 per square foot, which is the highest price for office space in North Point.
- Represented a reputable Chinese developer in the acquisition of a large residential site in the New Territories through the acquisition of the entire equity interest in the property holding companies at a consideration of HK$6.6 billion. This represents one of the largest transactions of one single residential site in 2017.
- Represented a leading property developer in Hong Kong in the HK$2.7 billion acquisition of over 80% undivided shares of a large residential site in Kowloon, by way of acquiring the property holding companies.
- Represented a reputable Chinese developer to acquire a large residential site in Kowloon through the acquisition of the shares and shareholders loan in the property holding companies at a consideration of over HK$2.5 billion.
- Represented a leading developer in the HK$1.85 billion sale of a residential site in Hong Kong Island involving ex civil servants co-operative building society scheme by way of disposal of the equity interest in various property holding companies.
- Represented a leading property developer in Hong Kong in the sale of a newly constructed modern industrial building in Kwun Tong, by way of disposal of the equity interest in the property holding companies involving a consideration of approximately HK$1 billion.
- Represented a leading provider of lighting luminaries and systems in the HK$1.3 billion disposal of a site together with a luxurious residential property in Repulse Bay through the sale of the entire equity interest in the property holding entity.
- Represented a property investor in the HK$400 million purchase of an entire industrial building in Hong Kong through the acquisition of the entire equity interest in the property holding company.
- Represented a large Chinese financial asset management company in relation to the proposed joint venture with the private arm of a listed Hong Kong developer to acquire a shopping mall in California, USA for long-term investment.
- Represented a client to acquire a luxurious site at Severn Road through the acquisition of the shares in the property holding company at the consideration of HK$900 million, being one of the largest standalone transactions on the sale and purchase of property holding company involving a single residential block.
- Acted for a listed company to sell a site in Mosque Street, Mid-levels West through the disposal of the shares and shareholders loan in a chain of property holding companies at the consideration of approximately HK$820 million.
- Acted for a major developer on its sale of a site in Lun Fat Street, Wan Chai through the disposal of the entire share capital in a BVI company.
- Advising developers in Hong Kong on the sale of first-hand properties (including residential, office, commercial, mixed-use composite developments).
- Selected large-scale projects under his supervision: Mount Pavilia, Grand Central, Le Pont, Artisan House, Artisan Garden, Alassio, Azura, Argenta, Arezzo, Mount Parker Residences, Dunbar Place, My Central, L'Wanchai, Century Link, Dragons Range, Mayfair By The Sea, Paxton.
Land Compulsory Sale Applications
- Successful application for compulsory sale for various residential buildings in Po Wah Building and tenement blocks at Landale Street and Anton Street, Wan Chai, being one of the largest compulsory sale applications in terms of redevelopment value (over HK$2 billion) and number of respondents (with 35 respondents at the commencement of the action) (LDCS 1000/2015).
- Successful application for compulsory sale of a residential building in 168, 168A, 168B, 168C Boundary Street (LDCS 25000/2014).
- Successful application for compulsory sale of a residential building in 10, 10A, 12, 12A La Salle Road (LDCS 43000/2012).
- Successful application for an order for compulsory sale of a residential building No.6 Shiu Fai Terrace.
- Acting as the trustee in the compulsory sale of Nos.307, 309 and 311 Des Voeux Road West (LDCS 48000 of 2012).
- Acting for key developers in Hong Kong on compulsory sale applications and large-scale strategic acquisitions in contemplation of compulsory sale applications in different parts of Hong Kong Island, particularly in Wan Chai, Quarry Bay and Mid-levels West areas.
PRC Real Estate Projects, Joint Venture, Land Acquisition
- Acted for the joint venture company established by Lee Kum Kee Group and Vanke Group on the RMB 5.7 billion acquisition of Corporate Avenue 3 in Shanghai Xintiandi, from Shui On Land, through the acquisition of the share capital in the property holding companies. The deal represents one of the largest standalone real estate transactions in PRC in 2015.
- Acted for a key developer in a joint venture project in a large-scale comprehensive development in Guangzhou known as “TaiKoo Hui” comprising office, hotel and shopping mall involving an investment of over RMB 6 billion.
- Advised a key developer in its large-scale mixed use development known as “Shanghai ifc” comprising retail, commercial, office and hotels.
- Advised a major developer in its development at No.3 Huaihai Central Road, Xuhui District, Shanghai for the development, leasing and sale of the mixed use complex comprising retail, office, hotel, entertainment and residential premises.
- Advising different developers in “tender, auction, gua pai” applications for the grant of State land use right and property management matters for different kinds of property developments in the PRC.
Town Planning and Building Plans Applications and Appeals
- Represented a key developer in a successful Court of Appeal action quashing the Town Planning Board’s decision to refuse relaxation of plot ratio and building height restrictions for a residential redevelopment at Seymour Road, Mid-Levels West (reported in Hong Kong Law Report & Digest as  3 HKLRD 339).
- Represented a key container terminal operator to successfully request the Town Planning Board to relax height restrictions imposed on various container terminal sites in Kwan Chun, involving a gross floor area of over 6 million sq. m. which worth billions of HKD investment.
- Acted for a developer in its successful appeal before the Appeal Tribunal (Buildings) quashing the Building Authority’s decision to reject general building plans for a hotel development at Leighton Road, Causeway Bay.
Strategic Large-scale Acquisitions for Redevelopment
- Represented a reputable Hong Kong developer in its strategic acquisition to consolidate the title of all the units in Nos. 21 to 31 Wing Fung Street, Wan Chai, Hong Kong, for redevelopment. As part of the acquisition process, also advised various highly complicated real estate legal issues, including advice on redevelopment potential in terms of plot ratio and gross floor area, building management disputes, strategy on compulsory sale applications, submission of general building plans, lodging of building appeal to the Appeal Tribunal (Buildings) to challenge the Building Authority’s disapproval of building plans and objection to the Town Planning Board on the proposed restrictions imposed on future redevelopment of the site.
- Represented one of the largest Chinese developer in the successful acquisition of a significant number of units (over 80% undivided shares) in several residential buildings in Hong Kong through the acquisition of the equity interest in a number of property holding companies involving a total consideration of over HK$650 million, paving the way for compulsory sale applications for redevelopment.
- Acted for a key developer to acquire the Government's interest in Cornwall House to complete its title consolidation in TaiKoo Place, Quarry Bay which involved an exchange of 10 floors of office space in Cityplaza Three for all the areas in Cornwall House owned by the Government consisting of 8 floors. This is an important transaction to the developer because this is the last piece of acquisition to consolidate the title of the entire TaiKoo Place to facilitate its redevelopment of three existing industrial buildings into two Grade A office towers. The transaction involves the drafting of complicated legal documentation because, upon completion of the exchange, the Government will become a co-owner of Cityplaza Three. Apart from the deed of mutual covenant, a tailor-made sub-deed of mutual covenant is prepared for the office accommodation of Cityplaza Three. The developer is also required to grant various rights of way, easements and right of use to the Government to facilitate the use and operation of its office premises in Cityplaza Three.
- Acted for the majority owner in the successful acquisition of 100% interest in various sites at Caine Road, Seymour Road and Castle Road in the Mid-Levels West for comprehensive residential redevelopments (now known as AZURA, ARGENTA, AREZZO and ALASSIO).
Large-Scale Leasing Projects in Hong Kong and PRC
- Represented the landlord in its successful renewal of the 10-year lease with an investment bank in International Commerce Centre (ICC), which is the tallest building in Hong Kong. The deal involved the renewed leasing of 14 floors of office space (total gross floor area of 499,859 square feet).
- Represented the landlord in three largest standalone office leasing transactions in Hong Kong - International Commerce Centre (ICC) leasing to Deutsche Bank, Credit Suisse and Morgan Stanley involving a total rental income of billions of Hong Kong dollars.
- Acted for a key developer in the leasing of office space in "TaiKoo Hui", Guangzhou to HSBC, being one of the largest standalone office leasing transactions in southern part of PRC.
- Acted for a key developer in the pre-lease and lease of office and retail premises in a large-scale comprehensive development in Guangzhou, PRC involving over 4 million sq. ft.
- Acted for major developers in letting of large-scale shopping centres and offices in Hong Kong and PRC (including International Commerce Centre, Two Harbour Square, Shanghai ifc, apm, Langham Place, 33 Des Voeux Road Central, The Westwood in Belcher's and Liberte Place).
Judicial Review Applications
- Represented a major developer in a successful judicial review application requiring the Town Planning Appeal Board to relax the plot ratio restrictions (and hence increase the permitted gross floor area to be constructed) on the site at Castle Steps, Mid-Levels West.
- Representing major developers in property related judicial review applications including renewal of government leases, review of Town Planning Board’s decisions on town planning appeals and Appeal Tribunal’s decisions on general building appeals.
Government Lease Matters
- Advising developers and charitable organisations in relation to applications for in-situ land exchange, modification of government leases, assessment of land premium, master layout plans applications, lease extensions, removal of non-offensive trade clause and extension of building covenant.
Buyer's Stamp Duty, Special Stamp Duty and Double Stamp Duty
- Advised The Real Estate Developers Association of Hong Kong, Hong Kong Association of Banks and key developers in Hong Kong on Special Stamp Duty and Buyer's Stamp Duty, and the legal impact on large-scale acquisitions of old residential properties and mortgage applications.
Successful Court of Final Appeal Compensation Claim
- Representing a developer in its successful claim before the Court of Final Appeal for compensation under the Railways Ordinance in relation to a residential development at Lam Tei, Tuen Mun (reported in the Hong Kong Court of Final Appeal Report as  14 HKCFAR 439).
The University of Hong Kong, PCLL
The University of Hong Kong, LLB
- England and Wales
- Hong Kong