Bonjour 300,000 short-term rental Mong Kok shop welcome Golden Week
As the retail market improves, and the “May 1 Golden Week” is approaching, retailers are ready for a new round of retail prime time. A berth at the Sai Yeung Choi Street South in Mong Kok was abandoned by the jewellery house of Chow Tai Fook (01929). No long tenant was allowed to rent for six months. Just before the Golden Week, the local cosmetics chain Bonjour (00653) rented short-term and the monthly rent was only about 30. Ten thousand yuan is a three-fold discount for long-term rent. Bonjour has leased two short-term rental shops in the same district within four months.
Longer rents are 70% lower
Bonjour’s new short-term rental shops are located on the ground floor of No. 34-36 Sai Yeung Choi Street South. The gross floor area is approximately 1,300 square feet. The monthly rent is 300,000 yuan and the lease is approximately 231 yuan. The original shop was rented for two shops, but in 2012 it was rented by Chow Tai Fook with a monthly rent of RMB 1.68 million, which is about 87% higher than the previous rent of RMB 900,000. Although the retail market reversed afterwards, Chow Tai Fook was granted a rent reduction of $1.3 million. However, in September last year, he moved out after the contract due to savings in rental expenses.
Afterwards, the shop had rented it for 1.2 million yuan per month, but it has not been leased. From January this year, the short-term lease of the shop was to the closure of the store, with a monthly rent of 300,000 yuan. After the Lunar New Year, Lee closed the store last month, and the owner changed the rent to 1 million yuan per month, which was 17% lower than the previous rent; after a period of time after the rent was released, there was still no long tenant renting, and it continued to Short-term rental. Bonjour’s short-term rental is similar to that of closing stores, but it is already 70% lower than the rent, and it has fallen by more than 82% compared with the highest level in 2012. Bonjour also operates immediately to meet the consumer golden schedule.
Currently there are about 6 Kyrgyzstan shops in the Pedestrian Area of Sai Yeung Choi Street South. However, Zhuo Yue prefers short-term rentals and has not accepted long-term leases. The brand had a short-term rent of 200,000 yuan per month in early December last year and was located on the ground floor of No. 42 Sai Yeung Choi Street South, which is just one berth away from the site. The building area is 1,000 square feet and the rent is 200 yuan. The short-term rental period came this March, but it has now been extended to the next month. As regards the ground floor of Shop C, Cheung Kee Building, No. 4 Sai Yeung Choi Street South, which has not had a long tenant for nearly three years, the gross floor area is about 522 square feet. The short-term rent was just short of 200,000 yuan per month from the mobile phone spare parts yard. 383 yuan. In the past three years, this shop has not been favored by long tenants. It has only been rented to a shoe shop for three years, and is used to store accessories and mobile phones. The monthly rent of RMB 200,000 has not been raised. It is reported that the long-term rent for the shop is about 600,000 yuan.