Australian law firm Admiralty to Wan Chai Province rents 60%
Central rents are high, and lawyers’ buildings have moved out of the core area of Central. According to the news, a foreign-funded law firm rents a full floor of Wuzhong Building in Wan Chai. The lease is about 50 yuan, which saves two-thirds of the rent compared to the original office building in the Golden Bell District.
Central District Super Jia Building rents 197 yuan
According to market sources, Hu Zhong Building recorded a rental transaction involving 1 to 9 rooms and 17 to 18 rooms in the upper floors of the property. The total floor area was approximately 21,818 square feet. The transaction was about 50 yuan, which was at the market level.
Huzhong Building is adjacent to the Hopewell Centre and is also a core commercial area in Wanchai. Individual floors have been sold out and are not owned by a single owner.
According to the news, the new tenant Minter Ellison, an Australian law firm, has a large business and has branches in many countries around the world. Its main business is located in the Asia Pacific region. It is reported that the law firm has been renting an office building in the Pacific Place in Admiralty. According to the current market value and a lease of about 150 yuan, the relocation will save up to 67% of the rent.
In fact, the rents of commercial buildings in the Central District continued to rise. According to data from Knight Frank, rents in the core area of Central continued to rise. The rent of the super-A-Hao was about 196.7 yuan, while the rent of the traditional Central A-Tsim Sha Tsui was also 140.9 yuan, both of which were historical highs. The high-quality Jiasha in the clock district has a rent of more than 120 yuan. Therefore, many foreign-funded institutions have seen high rents, so they have moved to save rents. Even the international law firms in the central district of the past have begun to move out of Central.
Accountants, etc. are stationed in Huangzhukeng, Hong Kong Island
As early as the beginning of last year, there were several law firm rentals in Taikoo Quarry, Quarry Bay, including Berwin Leighton Paisner and Ince & Co. The large-scale British law firm Freshfields also rented two floors of Taikoo Island Hong Kong Island East Centre. For the transaction, Baker McKenzie, who originally rented the Hutchison Building in Central, pre-rented a 100,000-square-foot floor in Taikoo Place, Quarry Bay, and rented about 60 yuan. It can be seen that the law firm has moved out of Central in the face of high rents. trend. Outside the law firm, accounting firms, financial institutions, etc. have recently moved from Central to Hong Kong Island East or Wong Chuk Hang.
In respect of other commercial rentals, the news indicated that Room 07-08, 52nd Floor, Central, with an area of about 4,712 square feet, was leased out at $438,000 a month, and the lease was about $93. The lower floor of the Wan Chai Overseas Trust Bank Building covers an area of about 7,344 square feet. The lease price is about $35.