Russell Street shop 700,000 renewed rent
In the core area, the first-line paving and renting continued to find the bottom, and there was no recovery. A ground floor rented by a skincare shop in Russell Street, Causeway Bay has just renewed its rent for $700,000. The rent has dropped by $100,000 (12.5%) from two years ago.
It is understood that the ground floor of the newly renewed rent is located at the ground floor of No. 28, Russell Street, Causeway Bay. The building area is about 1,000 square feet. The chain skin care brand Kiehl’s will renew the contract with 700,000 yuan per month and rent about 700 yuan.
Skincare brand Kiehl’s negotiated rent and reduced by 12%
According to the information, the site was rented by the same skin care brand since 2004. It was recorded in 2014 and was re-loaned at RMB 1.45 million. At that time, the lease amount reached RMB 1,450, which became the highest rent of the shop. By the end of 2017, when the rent was renewed, the retail market was not as good as before, and the rent was reduced to 800,000 yuan. However, in the past two years, the rent has not improved, and the monthly rent for renewed rent has dropped another 100,000 yuan. If compared with the highest level in 2014, the rent is even more sluggish by 51.7%.
In addition, AOffice 46, the office building of 57-59 Guorui Road, Kwai Chung, owned by China Aoyuan (03883), launched the first batch of 14 units on the 5th floor, including 5 office units and 9 windowless conference rooms.
The market circulation price list shows that the above-mentioned unit construction area is 177 to 629 square meters, and the price is 1,388,300 to 6,788,000 yuan, and the price is 7100 to 10,793 yuan. According to the news, six of the first batch of units have been reserved, including the smallest and lowest-priced conference room No. 11.
AOffice’s 46-storey 12-storey building has a total floor area of 117,000 square meters and provides approximately 210 office and conference room units. It is expected to be completed in the first quarter of 2020.