Baili Avenue Duplex Shop Xie Ruilin Ping Sancheng Renewal

The rent of street shops in the first-line area has dropped at a relatively high peak. The second floor of the Boli Shopping Boulevard, Tsim Sha Tsui, which is leased by the chain jewellery banker Tse Siu Lam (00417), has been re-housing on the first floor of the shopping arcade. It has been renewed at $600,000 a month. It fell by about 29%.

It is understood that Mr Tse is currently renting Shop No. 4, 1/F, G7 to G8, G/F, Pak Lai Shopping Centre, 111-181 Nathan Road, Tsim Sha Tsui. The gross floor area is about 1314 square feet. The first floor has a gross floor area of ​​about 1342 square feet. About 2,656 square meters, the latest monthly rent of 600,000 yuan, 呎 226 yuan.

According to the information, Xie Ruilin rented the site as early as 2011. At that time, the monthly rent was 550,000 yuan. By 2015, the shop rent was significantly increased to 840,000 yuan, an increase of 290,000 yuan or 52.7%. This time, Xie Ruilin renewed his rent, and the monthly rent was lowered by 240,000 yuan three years ago, a drop of 28.6%. However, the latest rent is still higher than in 2011.

Tsim Sha Tsui shop rent fell 43% in 5 years

In addition, Shops 8 and 17 on the ground floor of Meidu Building, 54-64B Nathan Road, the same area, with a building area of ​​about 1,400 square feet, rented out at a monthly rent of 400,000 yuan, and leased about 286 yuan. It is reported that the new tenant is Watsons, a chain of personal care stores.

The site was rented to a leather goods store in 2013. The monthly rent was as high as 700,000 yuan. The latest monthly rent has been reduced by 300,000 yuan from 5 years ago, a drop of 42.9%.