Emperor Jiujiu Xuan features only $23 for rent, and lost for 3 years.
The rents in the core retail areas have generally stopped falling, and some areas have rebounded. However, the rents of the central bunks that collect high-end consumption are still falling sharply. Located on the 3rd floor of the Jiaxuan Plaza, the base shopping mall at No. 9 Queen’s Road Central, Central. After about three years of emptying, it was just rented by the American steakhouse Lawry’s The Prime Rib at a low price of $150,000 per month. It fell 80%.
The above-mentioned Jiaxuan Plaza is full-floor on the 3rd floor. The building area is about 6,500 square meters. There is another 1500 square platform. It belongs to the restaurant deed floor. The main entrance is located on the second floor of the shopping mall. There are independent elevators and stairs to the third floor. Due to the high ceiling of the property, which is 25 feet high and has a round arched sky screen design, it is suitable for renting special dining. The shop is rented by the restaurant Lawry’s The Prime Rib. The monthly rent is only 150,000 yuan, and the rent is about 23 yuan. At present, the shops in the same building in the same district are rented for 40 to 60 yuan. Therefore, the rental price is at least 60%.
Last year, I rented 650,000, and I spent 77%.
It is understood that the owner of the shop launched the property leasing in the middle of last year. The rent is about 650,000 yuan per month. The rent is close to one year. At the end of the day, the rent is reduced by 500,000 yuan or about 77%. The new tenant Lawry’s The Prime Rib had previously set up a shop on the second floor of the Hutchison Building in the same district. However, due to the implementation of the demolition and reconstruction of the Hutchison Building, he was asked to move and eventually succeeded in obtaining a new location in the same district.
The 3rd floor of Jiaxuan Plaza has been rented to a fine dining restaurant or bar. According to the information, this floor was rented to the Senior Club in 2006 with a monthly rent of 220,000 yuan. By 2013, I rented a high-end French restaurant. The monthly rent was as high as 750,000 yuan, and the rent was about 115 yuan. The lease was until June 2016. However, after the French restaurant moved out, the upper site was lost. During the period of the owner, the property was sold to the Kyrgyzstan for sale. The asking price was 300 million to 325 million yuan. Eventually, due to the failure to sell, the shop was re-loaned, but the shop was re-sold. After nearly three years of short-selling, the rental value plunged with the market conditions. The monthly rent fell by 600,000 yuan compared with 2013, and fell by 80%. The rental value was even flatter than that of 2006.
The restaurant in the Central District is no longer beautiful.
In fact, according to the online restaurant guide, the original tenant French restaurant has a lunch package price of 500 yuan, while the new tenant’s lunch package is priced at about 300 yuan, reflecting the different positioning of the restaurant and the decrease in renting power.
In recent years, there is no shortage of buildings in the Central Building for restaurants. Because the market is hard to recover, the rents are now surprisingly declining. For example, Shops A and B on the ground floor of Yurong Building, 64-66 Wellington Street, and 1st to 3rd floors, with a building area of about 5,880 square meters. The predecessor came to the restaurant for a monthly rent of 1 million yuan, but moved in 2017 due to the owner’s proposed reconstruction. Out. Later, the property ownership changed and the redevelopment plan changed. In September last year, the new owners rented the above-mentioned shop to a Hong Kong-style tea restaurant for a monthly rent of $180,000. The rent dropped by 82%.
In addition, the basement of Zhenbang Building, 58-60 Queen’s Road Central, has a construction area of about 4,000 square meters. The original tenant is the Boss Hall, a high-class Cantonese restaurant that was once rated as one of Michelin. It was rented from 2013. Rent up to 380,000 yuan.