Sai Yeung Choi Street Shop rent reduction of 30% average more than 380 yuan per trip Mong Kok first-line street cosmetics pharmacy frequency stationed

Sai Yeung Choi Street Shop rent reduction of 30% average more than 380 yuan per trip Mong Kok first-line street cosmetics pharmacy frequency stationed

Affected by the decline in free consumption in recent years, the retail business has turned weak, and the demand for shops in the core area has decreased. Among them, the number of rented and rented cases at Sai Yeung Choi Street in Mong Kok Street has been more than 30%. It has returned to the level of 6 years ago, with an average of 380. Since the beginning of the Yuan Dynasty, with the sharp decline in rents, some retailers have expanded and are most active in cosmetics and pharmacies.

In the early years, driven by free travel, luxury goods, including jewellery and watchmaking, entered the core area and rushed to rent at a high price. However, in recent years, the spending power of free travel has gradually declined, and the Sino-US trade war has exerted pressure on it. Suffering from stress. Although Sai Yeung Choi Street is a first-line street in Mong Kok District, the number of renting cases has been recorded recently. The rent reduction range is from 9 to 36%, with a general reduction of about 30%.

Rent back to the level of six years ago

Chen Zhibao, managing director of Duobao Wangpu, pointed out that due to the influence of the occupation movement, many mainland tourists have reduced their desire to shop in the south, and the negative factors such as the frequent greed and Sino-US trade war in the Mainland have dragged down the market. In a hurry, major multinational brands, jewellery and watchmaking companies gradually withdrew from the core area, causing a sharp decline in rents. The core area rents have dropped by about 40% to 50% from the peak period, and rents generally returned to six years ago.

Chen continued to point out that although the current market is obviously softer than in the early years, the retail shops in the core areas still have a price and a market. As long as the owners are willing to make concessions, the market is still eager to rent, and some retailers are expanding. Cosmetics and pharmacies are the most active; in addition, Chen also pointed out that with the dawn of trade negotiations between China and the United States, the market has a chance to gradually stabilize.

Recently, the above-mentioned street frequency recording and renting cases, in which the market news pointed out, No. 2J to 2Q, Sai Yeung Choi Street, with an area of ​​about 800 square feet, was rented out at a monthly rent of about 350,000. The average rent was about 437 yuan. The old rent of the shop was 55. Ten thousand, the new rent fell by about 36%.

Retailer expansion

In addition, market sources pointed out that the ground floor of Sai Yeung Choi Street and Dundas Street in Mong Kok has an area of ​​about 1,200 square feet. The monthly rent is 475,000, with an average rent of about $395. The new tenant is a cosmetics chain, replacing the major electrical retailers. The new rent fell by about 13%.

Also, Shop E, G/F, Wing Wah Building, 14-24 Sai Yeung Choi Street, market information revealed that the shop was rented at a monthly rent of 350,000, with an area of ​​about 741 square meters, with an average rent of 472 yuan, new tenants For the telecommunications company.

The shop was rented by a British personal beauty brand with a monthly rent of over 500,000. The current rent has dropped by 30% and the rent level has returned to 2011.

According to market sources, the ground floor of No. 44 Sai Yeung Choi Street, Mong Kok, is connected to the Court. It covers an area of ​​894 square feet and is rented out at a monthly rent of $500,000. The average rent is about $559. The new tenant is a cosmetics retailer. It is reported that the shop was earlier. The rent is 550,000, so the new rent is about 9% lower than the old rent.

According to the information, Sai Yeung Choi Street in Mong Kok is a first-line street in the district. The streets are lined with fashionable consumer goods, including electronic audio-visual products, clothing, cosmetics and various restaurants. The flow of people is endless. In addition, Sai Yeung Choi Street has been designated. For the pedestrian zone, a large number of street performers were attracted to the performances on both sides of the street, but the pedestrian zone was cancelled in August last year.