King’s Street, Causeway Bay, King Kong Street, the end of the year, the end of the fall
The rental value of the retail outlets in the core retail districts has stabilized. According to the latest published 2019/20 (hereinafter referred to as the next year) rateable rental value (hereinafter referred to as the rental value), the Rating and Valuation Department (hereinafter referred to as the Rating and Valuation Department) After renting the most expensive Kingstown Street in Causeway Bay, the rental value of the next year fell after two consecutive financial years.
According to the information of the Department of Valuation, in recent years, it has been the highest rented flat at Shop A2, G/F, 2 Cannon Street, Causeway Bay. The rent for the next year is $1.656 million. According to the data, the rent of the shop in 2016/17 once reached 3 million yuan, but then fell for two years, with a cumulative decline of 44.8%.
The site of the King Lung Street is more than 10 years old. It has a building area of 50 square feet and a usable area of only 30 square feet. It is now a change shop. The current monthly rent is $138,000 and the practical rent is $4,600. Compared with the peak of 2015, the rent was 8667 yuan, down 46.9%.
The retail area in Tsim Sha Tsui is obviously weak
The other retail streets in Causeway Bay, such as Russell Street and Percival Street, have not changed much. The only value is the annual rent of the Liyuan Building, No. 29-33 Liyuan Hill Road, which is held by senior investor Li Yongzhen. It fell 5.5% to 10.32 million yuan.
In addition, the Shop No. 4 and Shop No. 5, G/F, Man Wai Building, 86-98 Canton Road, Tsim Sha Tsui, will be rented at $13.44 million for the next year. The shop has been lost for nearly two years. It was rented out at a monthly rate of 1.25 million yuan in May last year, down 72.3% from the 5.52 million yuan in 2013.