Henderson unveils Central Yards, the centrepiece of its US$8 billion harbourfront project

Henderson Land Development has unveiled Central Yards, a 1.6 million sq ft mixed-use project taking shape on Hong Kong’s most expensive piece of prime real estate and a key component of the developer’s HK$63 billion (US$8 billion) New Central Harbourfront project.\nThe 10-storey building in Central, which would offer more than 700,000 sq ft of office and ancillary space, would have the largest floorplate in the city’s main business district, Henderson said in a statement on Tuesday. Six of the 10 floors would be dedicated to offices, three to retail and one to the lobby.\nThe first phase of Central Yards will open in 2027, followed by the second phase in 2032.\n“Since day one, we set out to push boundaries to lead world-class sustainable designs and innovations,” said Martin Lee Ka-shing, Henderson’s chairman. “From crafting Central’s largest sky garden for urban biodiversity to pioneering design innovations for its microclimate, this development embodies our vision of how global cities must evolve – placing people, sustainability and innovation at heart.\n“This unique vision redefines what is possible for Hong Kong. Central Yards is our expanded horizon to the world, shaping Hong Kong’s new chapter.”\n\nIn November 2021, a unit of Henderson beat five contenders in the government’s “two-envelope” tender with a record bid of HK$50.8 billion for a 50-year land grant for the 516,316 sq ft harbourfront plot to the north of the old General Post Office and next to the International Finance Centre.\nThe government adopted the “two-envelope” tender approach to put a cap on land prices, awarding bids on meritorious designs as well as the highest price.\nHong Kong-listed Henderson said more than 70 per cent of the first phase of the office and ancillary space had been leased, “with the remaining areas attracting strong interest from leading multinational companies”.\nJane Street Asia will serve as the anchor tenant, with the quant trading firm leasing 223,437 sq ft in the building for HK$137 per square foot per month, or HK$30.6 million per month, excluding fees, making it one of the largest leasing transactions in Central, according to an announcement in June.\n\nCentral Yards will span more than 1,312 sq ft along Victoria Harbour, forming Central’s longest architecture and a new horizontal skyline. The project’s design and architecture is the result of a collaboration between Henderson, Hong Kong-based Lead8, London-based AL_A, the Netherlands’ UNStudio, California’s Peter Walker and Partners, and London’s Speirs Major.\nThe project will have open spaces and Central’s largest sky garden – a 1,000 feet elevated landscape spread over 160,000 sq ft. In addition, over 300,000 sq ft of multi-level open green space will have more than 400 trees and 280 plant species, the statement said.\nIt will also feature the city’s sole private “Broadway-calibre theatre”. The state-of-the-art venue, designed and engineered to international specifications – from stage design to back-of-house facilities and lighting systems – would offer seating for more than 1,100 guests, the statement said.\nIt will be fully equipped to host a broad spectrum of world‑class performances, from global premieres and flagship concerts to immersive productions and cross-disciplinary showcases.\n“Envisioned as a ‘city within a city’, Central Yards puts placemaking at the core of its retail vision for the new generation,” Henderson said.\n