Recently, the news of Fangheng Fashion Center, a self-owned real estate property purchased by ByteDance in Beijing for 5 billion yuan, attracted the attention of the Internet industry. It is reported that Fangheng Fashion Center is Bytedance's first self-owned office building in Beijing. The Zhongkun Plaza, which faces Fangheng Fashion Center across the North Third Ring Road, has also been exposed by the media as being acquired by ByteDance.
At the same time that the Bytedance team moved into Fangheng, some real estate transaction websites also showed information about the sale of office buildings in Zhongkun Plaza. The
reporter learned exclusively from people close to the project that the acquisition of ByteDance may be a variable.
is located in Zhongkun Square near Dazhongsi Station of Beijing Subway, with the North Third Ring Road to the north, and Xizhimen and Zhongguancun around it. The geographical position is superior. However, this project, known as "the last urban complex within the third ring road", has been fateful since it started construction in 2004. Public information shows that the Zhongkun Plaza, which was expected to be completed in 2006, once announced with a high profile that it plans to start leasing in January 2007 and settle in at the end of 2007. But until 2011, the project was silent. After completion, Zhongkun Plaza did not meet expectations. In order to revitalize the project, Zhongkun Group announced in 2013 that it would change Zhongkun Plaza into an office building, but it was collectively resisted by small owners and the renovation failed.
Early last year, ByteDance was revealed to have spent 9 billion to acquire Zhongkun Square of the Great Bell Temple. Some media quoted industry insiders as saying that Zhongkun Plaza had publicly sold part of the property rights of the project due to capital constraints during the early construction, resulting in scattered property rights. Whether the property rights can be repurchased from a large number of small owners is the key to the successful transfer of the project.
Recently, the reporter learned exclusively from people close to the project that Bytedance did intend to abandon Zhongkun Plaza, and currently plans to sell Block E first. The
media has reported that the acquisition of Zhongkun Plaza by ByteDance is a debt acquisition. On January 18, 2019, there was news that Zhongkun Plaza was successfully reorganized under the leadership of the Haidian District Government of Beijing, “becoming the first multi-unit in the country where the government, production and investment parties, capital parties, property owners, and various credits and debts complement each other’s advantages. Aggregation of entities.” According to the press release at that time, Zhongkun Group had already begun to repurchase property rights with the owners. However, according to the reporter's understanding, many owners still have not signed a repurchase agreement.
was unable to complete the reorganization of the project due to the delay, the byte beating has begun to retreat. "Their main purpose is to solve the bottleneck of office space. At present, Zhongkun Plaza has been unable to move forward. They have already started the backup plan." The aforementioned person close to the restructuring project of Zhongkun Plaza told reporters that the opening of Fangheng Fashion Center is a word The new scheme of section beating to find an alternative to Zhongkun provides a buffer time. "They have one more point (worry). The property rights of Zhongkun Plaza are only 20 years away. We are still trying our best to convince them (not to withdraw), at least not to withdraw completely." After the decision to acquire, Bytedance was once aligned. Kun Square has high hopes. A former employee of ByteDance told reporters that there have been many postings in the "Headline Circle" of ByteDance's internal forum, and imagine that after the opening of Zhongkun Plaza, there is no need to take a shuttle bus to a meeting. It is understood that due to the rapid development of Bytedance, the office space contradiction is very prominent. At present, the company has dozens of scattered rental office locations in Beijing, even including some shared office space mainly for startups. The company is called an "Internet cafe station" by the Internet industry due to its narrow working space. Public information shows that Bytedance expects that by the end of this year, the number of employees worldwide will increase from 60,000 to 100,000. This year alone, Bytedance will recruit more than 12,000 fresh graduates. Therefore, Zhongkun Plaza, with a construction area of more than 400,000 square meters, will be regarded as a hope for solving the contradictions in office space on the Bytedance intranet.
According to the aforementioned sources close to the project, Block E was abandoned in advance this time, and other buildings are not ruled out. The reporter went to Zhongkun Square to check on the spot and found that construction fences had been erected downstairs C and D in Zhongkun Square, but no construction traces were seen in Buildings B and E, which partially corroborated the above-mentioned claims. The reporter from
contacted a small owner of Block E in Zhongkun Plaza. He confirmed that no one had contacted him for repurchase recently. However, he also said that he believed that Bytedance would not easily abandon Zhongkun Plaza. “They have already invested so much. If there are too many, I don’t want to stop it, right? We are not unreasonable. I bought it for two or three million in 2006. How many times has the house price in Beijing increased? If you want to buy it, you have to use the current market price. An employee of ByteDance who handles Beijing affairs confirmed to reporters in private that the company is indeed doing site selection and the investment budget may reach tens of billions or more, but the employee does not understand the situation of the Zhongkun Plaza project. As ofBefore publishing the article, the reporter asked ByteDance for confirmation on the abandonment of Zhongkun Plaza. The company's public relations department replied that it would not comment. Bai Jinlei, Shell Financial Reporter, Beijing News
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