Cosmetics store expansion main attack core area
Free travellers from the Mainland began to grow steadily at the beginning of the year, stimulating the expansion of industries such as cosmetics, apparel and exchange shops. Among them, the cosmetics specialty store is relatively active. The market has repeatedly recorded a number of cosmetics store rental cases, focusing on the first-line shop in the retail core area, with an average rent ranging from 132 to 300 yuan.
Mr. Zhou Bainian, the director of the company, said that the retail market in Hong Kong has stabilized and the number of visitors to Hong Kong has also increased, driving retail sales to improve. Among them, the chain of cosmetics stores, which are popular among mainland tourists, have recently leased the first-line core shopping districts, such as a monthly rent of $900,000, and leased an underground shop at 59-61 Sai Yeung Choi Street, Mong Kok, with an area of about 2,000 square feet. The 1,000-square-foot loft has an average rent of about $300. Compared with the previous tenant, Luk Fook Jewellery leased the shop at a monthly rent of $2.2 million at the peak of the retail market in 2013. The monthly rent savings was about 59%.
Sai Yeung Choi Street Millennium Shop 250
In fact, the same cosmetics chain earlier leased the ground floor of No. 2R, Sai Yeung Choi Street, Mong Kok. The monthly rent was $250,000 and the area was about 1,000 square feet. The average rent was about $250. The rent was about 31% lower than the top. According to the information, the shop was leased by a Korean cosmetics chain with a monthly rent of 360,000 yuan in September 2015. However, it was abandoned after one year and then rented out as a short-term rental.
For the Hong Kong Island, the newly recorded tenancy case in Causeway Bay, which is also in the shopping district, is located at Shop 5, G/F, Wah Yip Commercial Building, 21 Yiu Wah Street, Causeway Bay. It was recently rented by Top Korea Beauty for a monthly rent of $39,500. The area is about 300 square feet. The average rent was about 132 yuan and the rent rose by about 6.8%.