Sheung Shui first-line street shop rent 85% free transfer to prosperous cosmetics shop 250,000 undertake
The number of passengers has rebounded sharply. Merchants specializing in free trade and parallel imports have regained their pace of growth, spurring a surge in rents in Sheung Shui. According to statistics, in the first five months of this year, Sheung Shui comprised first-line streets such as Xinkang Street and San Fung Road. At least 5 cases of ground floor rental cases were recorded. The rents had a minimum increase of over 39%. The most exaggerated one monthly rent was more than 3%. Year-on-year gains of more than 85% were replaced by cosmetics to replace the snack shops, and monthly rents surged from $135,000 to $250,000.
Xinkang Street Xinfeng Road
The retail market has improved and the industry that provides free service has taken the lead. In recent years, the Sheung Shui District, which has not been substantially adjusted for rent, has surged due to the expansion of cosmetics and drugstores. It is understood that at present, the restaurant has leased a penthouse with a total area of 2,000 square feet from No. 47A, Xinkang Street, which has been leased from a snack shop for nearly 5 years. It has just been pre-leased by a cosmetics shop, with a monthly rent of RMB 250,000 and a rent of RMB 125.
According to statistics, the snack shop was leased from the site in 2013. At that time, the monthly rent was 125,000 yuan, and it was increased to 135,000 yuan three years ago. The cosmetics shop was significantly higher than the old rent of 115,000 yuan. The rent is more urgent than it was three years ago. The increase was 85.2%. The increase was comparable to the first-line floor store in the core retail area during the retail peak period.
The ground floor shops in Causeway Bay and Tsim Sha Tsui, etc., have undergone major adjustments in rental rates and have now returned to their levels from 2009 to 2010. However, the Xinkangjiedi shop was rented to convenient stores at a rate of RMB 65,000 per month in 2010. Currently, the rent has soared 2.8 times from 8 years ago.
Tang Ji grabbed 77% more expensive
There are substantial rental increases on Xinkang Street. For example, on the ground floor of No. 68, the building area is 1200 sq. ft.. It is currently rented at a monthly rent of $220,000 to a cosmetics shop. The lease expires this month, but it has been awarded to another cosmetic store at 350,000 per month. Yuan pre-lease, rent 292 yuan, the new rent increased by 59.1% over two years ago.
In addition to the cosmetics shop, even the restaurant has high prices and seize high-end shops in the district. The Tangjeo package has just rented 280,000 yuan per month on the ground floor of No. 74 Xinkang Street. The building area is 1,100 square feet and the rent is 255 yuan. Before the shop was rented, it was rented to the bakery for only RMB 158,000 per month. The rent increased by 77.2%.
Pan Zhiming, managing director of Central Plains (Commercial and Commercial Stores), believes that the number of free travelers is picking up, and that Sheung Shui is one of the most frequented places for them. Coupled with the parallel shopping of goods, the pharmacy, drug and makeup and cosmetics businesses are also concentrated in the area. Rising, these shops are again active in grab shops. Due to the fact that at the peak of retail sales, the main streets in Sheung Shui were very few shops selling watches and jewellery, so the renting was not as catastrophic as the core retail area. Today, the number of merchants, such as pharmacies, has expanded further, and the vacancy rate in the district is low, making shop rental performance much better than other regions.