Five indicators: location (core CBD), age under 25 years or recently renovated, specs (high ceilings, large floor plates, fast lifts), services (24/7 central A/C, smart access, professional management), and tenant mix (MNC banks, law firms, listed companies). IFC, ICC, Pacific Place are exemplars.

Efficiency = Net Area / Gross Area. New Grade-A: 65–75%; older buildings 55–65%; converted industrial offices can reach 80%+. 1,000 sqft at 70% gives 700 sqft usable; at 55% only 550 — a 27% gap. Balance efficiency, lobby prestige, and shared facility quality.

Grade-A HK$5–10/sqft, Grade-B HK$3–5. Includes: common area cleaning and security, lobby/corridor A/C, lift and common-area electricity, structural maintenance, façade cleaning. Excludes: in-unit repairs, tenant A/C beyond standard hours, tenant-metered utilities.

Check: ownership structure (single landlord = consistent management), property manager track record, equipment age (lifts/A/C >20 years need replacement), refurbishment plans, neighbouring tenant profile. We can request the building technical memo on your behalf.

Driven by economic cycle, new supply, MNC moves, and policy. Lock in a 3-year term with a rent-escalation cap to hedge sharp upswings. We benchmark against latest deals to support your negotiation.