L’Occitane rents Quarry Bay K11 per month for 1.28 million

L’Occitane rents Quarry Bay K11 per month for 1.28 million

The overall Grade A office rents in Hong Kong have further increased, and the trend of relocating enterprises to relatively low-rent commercial districts continues. Hong Kong Island East has become the first choice for corporate relocation. K11 ATELIER King’s Road, a new Grade A office building in Quarry Bay, New World (00017), has just recorded a large-scale lease transaction. The cosmetic brand L’Occitane (00973) leased a total of about 25,500 square meters of floor space, with a monthly rent of 1.275 million. yuan.

More than 30% of the rent moved away from Causeway Bay

The K11 ATELIER King’s Road, which will be completed in the third quarter of this year, is 28 stories high, 22 of which are office buildings with a floor area of ​​19,300 to 21,200 square meters.

The market recently recorded the first lease transaction in the Xiamen. L’Occitan rented a low-rise floor and a half floor, with a total of about 25,500 square feet, rented out at 50 yuan per square, with a monthly rent of about 1.275 million yuan.

It is reported that L’Occitan currently rents 2 Times Square in Causeway Bay. According to the current lease of about $75, the relocation to Hong Kong Island can save up to 30% of the rent. It is understood that the current renting unit of K11 ATELIER King’s Road is called 60 yuan per square meter.

In recent years, Hong Kong Island East has become the first choice for relocation of enterprises in Central and Wan Chai. Apart from the lower rents, the office can still be maintained on Hong Kong Island. The Central Wan Chai Bypass was fully opened to traffic at the beginning of this year. The time from Hong Kong Island East to Central has also been greatly shortened. Attracting many companies to enter.

Recently, a number of multinational companies have also subletted Hong Kong Island East Office Buildings. For example, the French brand CHANEL has recently leased a total of about 130,000 square feet of floor on the 6th floor of Hong Kong Island East Centre, Taikoo Place, Quarry Bay, with a monthly rent of about $7.55 million. yuan. It is reported that the brand moved its headquarters from Central to Hong Kong Island East.