People’s livelihood
In recent years, the ecology of Hong Kong’s retail industry has undergone structural changes. Watchmaking jewellery, brand fashion or restaurant merchants dominate the market, and traditional people’s livelihood merchants have lost their times. There is a pawn shop in Quarry Bay, Hong Kong that has been in operation for more than half a century. It is scheduled to close in October. At the same time, the owner of the shop has been holding the property. In recent months, the property was sold for $26 million.
The Xianghe Prison, which has been in operation for more than 50 years, will close in early October.
The above-mentioned shop is A07, G/F, Duobao Building, 963-967A, King’s Road. It covers an area of about 800 square meters. The merchant is a charity. The market said that the property had previously rented about 80,000 yuan per month. The staff of the shop, Mr. Chen, revealed that in the past 50 years, the store has mainly served residents in the area.
Traditional brick store is hard to find online shopping
As you can see at the scene, notices have been posted outside the store. At present, it has been “holding for redemption” and it means that if the goods are not redeemed or renewed, they will be treated as demolition goods, and all the goods will not be retained.
Nearby neighbours believe that today’s Hong Kong society, traditional industries such as pawn shops are difficult to operate. Mr. Wen said, “In the past, housing developers would take quilts to pawn. However, in recent years, there have been many financial companies. It is very convenient to make a phone call and it is very convenient. Therefore, the demand for escort services has been greatly reduced.”
The public points to the old store frequency sale?
On the other hand, online stores have emerged in recent years, stealing the business of physical stores, among which the stationery stores belonging to the people’s livelihood merchants are the most affected. A business store in Central, a business-focused area of nearly 30 years old, also closed down at the end of last month. Mr. Cheng, the head of the business, said frankly, “The shop is a self-use shop and there is no rent pressure. However, the old man is lost for different reasons and it is difficult to hire new people.”
The shop is located on the ground floor of the Wai Hing Commercial Building, 17 to 19 Wing Wo Street. It has a basement area of about 1,400 square feet and a 1,000-square entrance. The landlord is now trading at about $78 million. It is more than 3.9 times higher than the purchase price of $15.8 million in 2007. It is also about $160,000 a month.
Tsim Sha Tsui Millennium Shop rents 62,000
Other regions have similar industries to rent out. G/F, 14 Observatory Road, Tsim Sha Tsui, with an area of about 1,000 square feet. It was originally leased to the local stationery company for about $60,000 a month. However, it was moved out in early July this year. It is now re-leased for about $62,000 a month. The intentional release price is about 38 million yuan.
Some members of the public think that selling properties is more practical than operating old stores. Mr. Sun pointed out that in the face of competition from large-scale chain stores, such industries “get money”. He also believes that many small commercial district shops are self-use shops. However, the current rents are rising and the owners prefer to rent out the shops. “Better. I operate it myself.”
Huang Hancheng, the chief executive of Midland Industrial and Commercial (00459), agreed that the early years of entering the market at low prices have seen a significant increase in the price of the past few years, and the market has been put on the market, and there are now many investment families selling large-scale properties. It also drives the atmosphere of the big city.