Pharmacy 450,000 rent Sai Yeung Choi Street South Shop
The retail market continues to recover and pharmacies have been actively expanding. Recently, there was a pharmacy in Sai Yeung Choi Street South, the heart of Mong Kok. The monthly rent of $450,000 replaced the existing short-term rental shop of local cosmetics chain Bonjour (00653). Shorter rents soared by 1.25 times.
The newspaper earlier this year disclosed that Longfeng Pharmacy had replaced the Bonjour with a monthly fee of RMB 2,275,000. It had rented 6F to 6G at Nelson Street and 40 to 50 Tongcai Street. The total area was approximately 6,700 square meters, making it the largest ever tenant in the pharmacy. After the case of floor shops, the turnover of pharmacies renting berths in the core area of Mong Kok came one after another. The sources pointed out that the underground floor of No. 42 Sai Yeung Choi Street has a building area of 1,000 square feet. The pharmacy had just rented about 450,000 yuan per month for pre-leasing, and rented 450 yuan, which is 10% less than the owners’ rent of 500,000 yuan.
Agent: Shop or rent stop in Mongkok
The shop was originally leased by the South Korean make-up brand 3CE with a monthly rent of RMB 740,000. The lease expired in November last year. It was then leased to Bonjour on a short-term rental basis. The monthly rent was 200,000 yuan, and the rent was 200 yuan. The short-term rental period was until March this year. , And subsequent lease to this month. A pharmacy saw a rebound in the retail market and decided to rent the shop for a long time. The monthly rent of 450,000 yuan was 250,000 yuan more than that of the Bonjour, but it was still 39.2% lower than the peak.
Pan Zhiming, managing director of Zhongyuan (Industrial and Commercial Stores), pointed out that free-travel customers rebounded and pharmacies or pharmacies that specialize in mainland Chinese business were the most benefited. Therefore, this year’s rented shops are also more aggressive, and so many deals were recorded in the series. He said that if the pharmacy rental situation continues, it will be beneficial to absorb the “Kyrgyzstan shop” in Mong Kok and the rent in this district will have the opportunity to stop falling.
However, the 11-year-old Kee Kee snack was operated at Shop No. 2, G/F, Dali Commercial Building, 2Y Sai Yeung Choi Street South, Mong Kok. The owner’s representative, Ms. Hu, stated that she had negotiated a renewal agreement with Jiaji Snacks at the original price, and the rent did not exceed RMB 300,000. However, the restaurant did not eventually renew the contract and was the private decision of the owner of the bakeries. She pointed out that there have been ups and downs in the market in recent years. The shop has also reduced rents in the past 11 years. It has not always been increasing.