Central Wellington Street to reduce rent more than 40%
The core area fell tide unfinished, by the local chain of cafes Cuihua rented, adjacent to Lan Kwai Fong a Central Wellington Street giant shop, involving 4 layers of more than 8100 square feet, now tenant Cuihua just 1.3 million yuan renewal 3 years, the old rent fell 43.5%, it is estimated that Cuihua the next three years to save rental expenses as much as 36 million yuan.
The shop is located at 17th Floor, Hong Kong Business Building, 17-15 Hong Kong, including the basement, underground, attic to the first floor, a total of 4 floors, a total of 8161 square feet, belonging to Cuihua tea restaurant in Hong Kong Island flagship store First, Cuihua in 2014 to 2.3 million yuan per month rent, the average foot rent of 282 yuan, scheduled for October this year, the lease expires, the owners of a few months ago in the market rent, rent 1.8 million yuan, So that the market is estimated that Cuihua or no renewal, to the past, it is learned that Cuihua and the owners reached a renewal agreement to rent 1.3 million yuan to rent the shop.
The average salary of about 160 yuan
In terms of new rents, the average rent is about $ 160, which is $ 58 million or 30% less than the owner’s rent. If the rent is $ 2.3 million three years ago, the decrease is $ 1 million 43.5%. To Cuihua renewed 3 years, the next three years the total rental expenditure of about 46.8 million yuan, compared with the current rental level savings of about 36 million yuan.
Data show that Cuihua first listed in 2012 before the company to 1.4 million yuan to rent the site, since Lanzhou Fen area as one of the landmark restaurants in recent years and cost the decoration of the shop, as the main flagship store and turn high Consumption line.
Causeway Bay “feet rent shop King” records of the King Long Street, there have been nearly 30% of the rents of the situation. Land Registry data show that by the investors Wu Jinfu Causeway Bay, Causeway Bay on the 2nd floor, No. E ground shop, the new jewelry shop to lease 150,000 yuan per month, the new lease from the month of rent, until August 2019 date.
Jinglong Street shop down 60%
The shop in the peak of the shop in 2012, has recorded a monthly rent of up to 350,000 yuan, about 1067 yuan rent, then in 2014 fell to 32 million, and now fell to 150,000 yuan, calculated, the latest monthly The peak period fell by 57%, compared with the previous lease to the yard yard also fell 53%. It is reported that the King Long Street, No. 2, No. E ground floor area of about 300 square feet, converted the latest average salary of about 500 yuan.
Adjacent to the “shop king” King Long Street on the 2nd floor, No. A2 shop, located Lockhart Road unilateral, in May this year, there have been nearly 50% drop.
The A2 building area of 50 square feet, by the senior investors Wu Jinfu and Peng Gui have jointly held in March this year, rent, bid 210,000 yuan, but the final monthly renewal of 138,000 yuan to find a shop , Compared with 3 years ago, 260,000 yuan, fell 46.9%, and 12 years in February signed a lease of 18 million per month, also 23.3% lower.
On the contrary, the rent in the non-core area is stabilized. Lai Chi Kok Mei Fook Tsuen No. 4 Broadway Street 69 to 119 ground floor and 1st floor, the underground area of 1000 square feet, 1 floor for the 10,000 square feet, the total floor of 11,000 square feet, the original tenant for the banquet hall, market news Refers to the end of the next month before the lease has been the new restaurant tenants to 44 million rental, compared with the original monthly lease of about 400,000 yuan, up about 1 percent.