'Alan Yip is dynamic, knowledgeable, with strong business acumen.’The Legal 500 Asia Pacific (2019)
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 in 2018/2019.
- Acted in the HK$6.6 billion deal for a reputable Chinese developer to acquire a large residential site in Tuen Mun, New Territories through the acquisition of the entire equity interest in the property holding companies. This represents one of the largest transactions of one single residential site in 2017.
- Acted in the HK$4.7 billion acquisition of significant number of lots in Wo Sang Wai, New Territories for a PRC developer involving approximately 20.74ha involving complicated features with special arrangement on wetland area restoration and pending in-situ land exchange application.
- Represented a leading property developer in Hong Kong in the HK$3 billion disposal of all of its economic interest in two shopping malls operated by MTR Corporation Limited, namely Telford Plaza II and PopCorn 2.
- Represented a leading property developer in Hong Kong in the disposal of approximately HK$2.36 billion of its 45% interest in the joint venture company being the property holding company of Shun Tak Centre in Sheung Wan. The joint venture company owns certain properties at Shun Tak Centre, including the shopping arcade's lettable area of 214,486 square feet, the office's gross area of 13,827 square feet and 85 car parking spaces.
- Represented a reputable Chinese developer to acquire a large residential site in Tonkin Street, 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 property developer in Hong Kong and its subsidiaries in the disposal of approximately HK$1.21 billion of the entire equity interest in four property holding companies With the target property at Eight Kwai Fong, a residential project in Happy Valley.
- Represented a leading developer in the HK$1.85 billion sale of a residential site in Mount Parker Road, 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 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.
Land Compulsory Sale Applications
- Hong Kong’s largest compulsory sale application in terms of redevelopment value (over HK$4.7 billion being highest one in history) and number of respondents (35 respondents), which is also Hong Kong's first compulsory sale application on building which is listed as "Grade 1 historic building" by the Antiquities Advisory Board. (LDCS 27000/2018).
- Hong Kong's first compulsory sale application on Government Civil Servants' Co-operative Building Society Scheme buildings at Nos.2, 4, 6, 8 Mount Parker Road (LDCS 13000/2019).
- Successful compulsory sale application for various residential buildings in Po Wah Building and tenement blocks at Landale Street and Anton Street, Wan Chai, being the then largest compulsory sale application 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 compulsory sale application of commercial/ residential composite building in 13-13A Liberty Avenue, Kowloon (LDCS 3000/2018).
- Successful compulsory sale application of tenement block in 9, 9A, 11 and 11A Liberty Avenue, Kowloon (LDCS 4000/2018).
- Successful compulsory sale application of a residential building in 168, 168A, 168B, 168C Boundary Street (LDCS 25000/2014).
- Successful compulsory sale application of a residential building in 10, 10A, 12, 12A La Salle Road (LDCS 43000/2012).
- Acting as the trustee in the compulsory sale of Nos.307, 309 and 311 Des Voeux Road West (LDCS 48000 of 2012).
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.
- Delivered over 60 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).
- 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 to ensure compliance with the requirements under the Ordinance.
- Advising developers in Hong Kong on the sale of first-hand properties (including residential, office, commercial, mixed-use composite developments).
- Selected large-scale projects: Mount Pavilia, Grand Central, Le Pont, Emerald Bay, Artisan House, Artisan Garden, Alassio, Azura, Argenta, Arezzo, Mount Parker Residences, Dunbar Place, My Central, Century Link, Mayfair By The Sea, Paxton.
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.
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).