Central shared office monthly rent is only a few thousand dollars
Central rents are high, and it is necessary to start a business or to set up a small company. The cost of rent rises and the creation of a shared work space arises. Metropolitan Workshop has continued to expand recently, and several thousand dollars can be rented and used in Central Office.
Metropolitan Workshop expands rental rate
The sharing of work spaces has been popular in foreign countries for some time. It has gradually become popular in Hong Kong in recent years. Many people in Hong Kong have noticed the market potential and devoted themselves to sharing space. For instance, investor Chen Wenhui has entered this market in recent years and has started related businesses more than two years ago. The company established its own brand, Metropolitan Workshop, to create a studio on the entire floor of the Kwai Chung Sky Center and opened it later in the days. It opened branches in Admiralty and Wanchai last year, and opened its first office in Central in Central this year. The unit was purchased by Chen Wenhui last year for 54 million yuan from the entire storefront of Prudential Plaza, 50 Stanley Street, Central, with an area of approximately 4,164 square feet and an average selling price of approximately 12,968 yuan. It was officially opened at the beginning of the year.
According to Yu Zhanming, general manager of Metropolitan Workshop, the group will provide 6 locations in total this year. After 3 years of operation, the overall occupancy rate is about 80%. “In addition to young people, there are also many experienced people who start their own businesses. The consultant has worked for many years and is now self-reliant.” He pointed out that the greatest benefit of sharing space is that it is relatively flexible. “As far as rents are concerned, rents are at least 25% lower than rented office space. If renting office independent units, the company has to pay the rent for the previous period. Renovation fees, etc. If renting a shared space, there is no need for much cost, and the lease term is also flexible and you can use it even more immediately.” Take the Central Office as an example, lease flat desks starting from RMB 2,500 per month. From 4,000 yuan, there is already an independent space.
In addition to providing basic equipment such as electricity, WIFI, and office supplies, there are also sufficient public spaces such as conference rooms. He pointed out that the Group will also provide opportunities for tenants. “We will assist our customers in promoting business, for example, the Group itself has a large number of FB users. We can promote branding activities and businesses. In addition, we invite outsiders, investors and others to attend the talks from time to time."
Low vacancy rate on Hong Kong Island
The brand continued to expand. For example, it had previously purchased the middle and upper floors of Jingwei Square in Central, with an area of approximately 4,398 square feet, with a turnover of 131 million yuan. The discount price was approximately 30,000 yuan, setting a new high for the construction price, which is expected to open in June. He pointed out that the first choice for opening is still in Central District because of the low vacancy rate in Hong Kong Island. “The Central District’s core area is even lower than 2%. The expansion targets are still mainly in Central District, including Admiralty, Sheung Wan, etc. In addition, Wong Chuk Hang District Business prospects are ideal and worth noting."
In the past year, the expansion of shared space has been extremely fast. In a single year, many international and Mainland brands have opened in Hong Kong, and the proportion of leased office buildings has increased significantly. Faced with intensified competition, Yu Zhanming believes that the potential for sharing space in Hong Kong is very large. At present, it is only at the initial stage of development. “Reportingly, the share of shared space in the total number of commercial buildings accounts for only 2.8%. There is still a lot of room for growth. I believe this is not Bubbles are the real trend. Even though the number of merchants that currently have shared space is increasing, each occupancy rate is also quite high. At present, the development of Hong Kong is not mature. Many people have not shared concepts and there is a lot of space on the market."