Everbright Securities renews connected lease at Everbright Centre for HK$2.95 million a month

Bulletin Express
Apr 30

Everbright Securities Company Limited (EB SECURITIES) announced that its wholly owned subsidiary, CEBSI, will exercise the renewal option in its existing lease with Everbright Centre Company, extending occupancy of designated office premises in Hong Kong’s Everbright Centre for a further three-year term from 1 May 2026 to 30 April 2029.

Key terms of the renewed lease • Tenure: 3 years, with additional options at the third and sixth anniversaries to lengthen the term by up to four more years at prevailing market rents. • Monthly rent: Approximately HK$2.95 million, exclusive of service charges, government rates and other outgoings. The rent level was set after arm’s-length negotiations and benchmarked against market data provided by independent valuer Jones Lang LaSalle. • Service charges: About HK$0.52 million per month, subject to periodic adjustment during the term. • Rent-free incentive: Three-month rent-free period across the leased floors. • Deposit: Roughly HK$10.84 million payable upon execution. • Parking: Licence fee for two parking spaces waived for the entire lease term.

Accounting treatment In 2023 the group recognised a right-of-use asset of approximately HK$278.40 million, reflecting the present value of lease payments for the maximum ten-year term originally contemplated. Under HKFRS 16, exercising this renewal option does not give rise to a new right-of-use asset.

All other provisions of the original Lease Agreement, first disclosed on 30 November 2023, remain unchanged. The company will issue further announcements if additional developments occur.

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