Sai Yeung Choi Street South now 5 Kyrgyzstan
The number of retail sales in Hong Kong picked up, but there are still many Kyrgyzstan shops and short-term shops in the core district streets. There are up to 5 Kyrgyzstan shops and at least 4 short-term shops in Sai Yeung Choi Street South, Mong Kok. Individuals have not even had tenants for about 38 months. A large chain of cosmetics stores in Hong Kong was sold for about three months at a monthly rate of about RMB 400,000. Similar cases have been rare in recent years, reflecting that the retail atmosphere has not been restored.
There are up to 5 Kyrgyzstan shops and at least 4 short shops on Sai Yeung Choi Street South, Mong Kok.
According to the statistics of the newspaper, up to the beginning of April this year, there were as many as 5 Kyrgyzstan shops on the Sai Yeung Choi Street South from Dundas Street to Argyle Street.
For example, the ground floor and the attic of Sai Yeung Choi Street South have a basement area of about 900 square feet and a total of about 600 square feet of attic space. The rent is now about $490,000 per month. The shop’s original tenant was a cosmetics shop. The old rent was about RMB 550,000 per month. However, the shop started to pay Kyrgyzstan in March 2006 and has not had long-term tenants stationed for more than 24 months.
Adjacent to the Sai Yeung Choi Street South, the basement and the attic have a basement area of about 900 square feet. They also have a 600-square-foot penthouse and are currently available for rent at a monthly rate of about $390,000. The shop had a tenant as a shoe shop. The old rent was RMB 680,000. However, the shoe shop was moved out in July of 2006. Afterwards, the shoe shop was not re-leased. It has been surrendered continuously for more than 20 months. There were no short-term merchants.
In addition, the 2J to 2Q single-numbered ground floor shops on the same street had earlier tenants withdrew their tenancy earlier. The bunker area was about 1,000 square feet, which was originally rented by a Korean cosmetics shop at about RMB 360,000 per month, but it was not until 2017. In early February, the rent has been withdrawn, and the shop has been stationed for less than 13 months without long-term tenants.
Cosmetics store 400,000 short-term rental shop
As regards a number of short-term tenants, a number of shops in Sai Yeung Choi Street South have been recorded. It is understood that there are currently 4 short-term rental shops on the street. Some of them have been for a long period of time and have not been leased by tenants. The owners continue to face reality and will The shops are leased out in a short contract.
A contiguous ground floor of Sai Yeung Choi Street South, which was previously leased by a chain of jewellery shops for about $1.3 million per month. Since September 2017, it has been paid for in Kyrgyzstan. Each shop patronage leases 600,000 yuan, a total of 1.2 million yuan. In recent months, large-scale chain cosmetics stores have been awarded, with a monthly rent of about 400,000 yuan for a short period of three months as a shopping mall, and the rent is only up to 33% of the long-term rent.
In the past, there were only a few short-term rental cases of large-scale chain brands in major retail districts in various districts. One of the highlights is the first floor of a ground floor shop with a site area of more than 6,000 square feet in East Point Road, Causeway Bay, Hong Kong. It was awarded to a major fashion group for a short-term rental of half a kilometre for a half year as an outlet; in November 2015 A unilateral berth at the junction of Ng Ping Road and Pak Sha Road in Causeway Bay. The chain jewellery shop was rented for about $350,000 for a short period of one month.