Hengdi Jiaxing H Queen’s rented 80%
Entering March, Hong Kong’s artistic atmosphere is particularly strong. H&Q (H2), the Grade A commercial building built by Henderson (00012) for the gallery, was officially opened recently.
Kristine, deputy general manager of the Leasing Department responsible for the project, and Kristine, the granddaughter of Lee Shau Kee, revealed yesterday that H Queen’s has rented 80% of the total, with art galleries renting more than RMB 100 and food and beverage rental reaching RMB 140. Commercial buildings are about 1 to 20% higher.
The art industry accounts for more than half of the food 27%
H Queen’s, located at 80 Queen’s Road Central, is a 24-storey building with 53% of tenants from the art industry, 27% from the catering industry and 20% from the retail and leisure industries. Kristine said that since the lease began in 3 years, 80% of the total has already been opened. Tenants such as galleries and restaurants will attract people. It is believed that there is potential for rent to continue to rise.
When H Queen’s was conceived five years ago, it was positioned as a gallery of service galleries. Each floor has a 4.45-meter-high building with windows that can be opened and closed and booms to facilitate the transport of artistic works. The architect responsible for the design is Lin Weihe. The happy-minded project is very much affected. Many international-renowned galleries have settled down, and several have rented two more floors. Kristine believes that the building provides art galleries with unique facilities and conditions for rents to be higher than those of nearby commercial buildings.
The building currently houses 5 art dealers, including 4 art galleries and an auction house. Audemars Piguet opens Asia’s first brand living room and Korean fashion brand MLB will open at the end of March. The ground floor will be set as a temporary exhibition space that will display content related to artistic creativity.
Kristine also believes that the retail industry is currently recovering, but retailers need to be more creative and use special concept to attract customers. For example, H Queen’s restaurant will design dishes with an art theme.
In addition, she also revealed that Hengda’s Tsim Sha Tsui Middle Road Commercial Building will be medically themed, while Tai Po Tsui Leo Square will be based on youth culture.