Hong Kong Club Building
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The Hong Kong Club Building is the building in Chater Road and Connaught Road Central, Central, Hong Kong in which the Hong Kong Club is located. It is owned by Hongkong Land. With its heavy presence among the membership ranks, the company agreed to shoulder all demolition and rebuilding costs in the 1980s with two provisos - the four podium floors in the new tower would be kept as dining rooms and bars for the members while the top floors would be leased for normal office use. Hongkong Land was responsible for all the costs and it was able to recover them from the rentals. Under the agreement, rental incomes from the office tower were to be collected by Hongkong Land for 25 years but from 2009 the club will collect all revenues and take full ownership of the building - giving the club an estimated HK$100 million a year in rental income.
The rental income is believed to be stable as the building is occupied by a wide range of companies and organisations including Commerzbank Hong Kong, which occupies the top two floors. Others include online broker Charles Schwab which has space on the ground floor, the Institute of Financial Planners on the eighth floor and some lawyers and accounting firms.
Prior to its 1980s redevelopment the previous Hong Kong Club Building was famous for being one of the last renaissance style buildings left in Hong Kong. Two uses were given to the development, the Hong Kong Club and the rental offices. The 4-storey-height club occupies the podium of the building with office building stacked above.
Although no public records are available to confirm how the site was obtained, it is believed that when the club was formed as a private dining and social club for government officials and British commercial seniors more than 100 years ago, the government granted the land.
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