Luxury shop to withdraw the core area of rent adjustment
Luxury consumption is difficult compared with the peak level, the early high-priced shop shop jewelry shop, moved out of the core area, are put on other tenants, rents were recorded significantly adjusted.
The retail sector has signs of stabilization. The Census and Statistics Department announced last week that retail sales in July were temporarily estimated at $ 36 billion, up 4% year-on-year and the best monthly increase after February 2015. Which jewelry, watches and valuable gifts to regain growth, sales rose 12.9%.
Winter rent shop rent Mong Kok shop rent down 3 percent
Although the retail bottomed out signs, but the consumption is still difficult compared with the peak period, and many watches and clocks jewelry store has moved out of the core area, replaced by new business rent, were recorded significant decline. Such as 585 Nathan Road, Mong Kok underground area, an area of about 1,600 square feet, won the winter shop J.CO Donuts & Coffee to $ 270,000 per month lease, feet lease about 169 yuan. The shop’s original tenant for the plum table (Titoni), the brand in 2011 free exercise peak period rental shop, this year’s monthly rent of 37 million, and now moved out of the winter toss shop, the rent fell about 3 percent.
In addition, the rents of the property are listed on the ground floor and the first floor, with an area of about 2,500 square feet and an area of about 3,000 square feet on the first floor, for a total of about 5,500 square feet. , About 1.8 million yuan per month rented out, about 107 yuan rent, the new tenant for the bank. The shop was located in the center of Nathan Road, Tsim Sha Tsui, which was rented by the Hong Kong, Macau and Chau Chow Chow Sang Seng, rented for about $ 1.7 million per month in 2010 and rented for $ 2.5 million. As the overall jewelery business weakened in recent years, The former owners rented the floor with 3,000 square feet of land on the first floor, and the original monthly rent decreased from $ 2.8 million to about $ 1.8 million and the rent fell by about 36%. In addition, the same district Nathan Road Golden Island Holiday Hotel a group of complex shop, an area of about 3,244 square feet, Chow Tai Fook jewelry as early as 2004 rented shop, to the monthly rent of 400 million, and tenants recently decided not to renew, Has been moved out, the owners decided to evolutions, the group of complex shop is divided into two, each shop area of about 1,600 square feet, the intention of each shop about 100 million.
Causeway Bay area, the same number of watches and clocks jewelry store to move out, shop rent down, such as Enping Road 17 to 19 underground, an area of about 1,471 square feet, the news that the monthly rent of 400,000 yuan, the new tenant for the handgroup, Handicraft merchandise, products, including 3D drawings, rents fell 76%.
High consumption is greatly reduced
Individual core area shop has not yet been rented, such as Central Queen’s Road, Wanbang underground underground, an area of about 1,300 square feet, early years by the jewelry shop Pandora 1.5 million yuan per month rent, 3 years ago won the watch shop to 1.38 million yuan to undertake , The watch shop earlier also do not renew the rent, the current shop and Kyrgyzstan, the owner intended to lease about 1.1 million yuan, 20% lower than the previous rent.
Analysis refers to the early retail peak, watches and clocks jewelry store to 1 to 2 times the rent to grab shop, the past two years, changes in consumer spending patterns, high consumption greatly reduced, retailers can afford to pay high rents, out of the core area by cost, And other retailers have a clear distance from the tenant, so put on restaurants, banks and other livelihood businesses, the rent was significantly adjusted. Even if the retail data has improved, luxury retailers in the short term is still difficult to reproduce the situation before the shop,