Early retreat from Causeway Bay pharmacy

The series of demonstrations and conflicts caused by the amendment of the Fugitive Offenders Ordinance have been more than three months since then

The retail industry has been hit hard. The number of free travellers from the Mainland has plummeted, which has led to a sharp drop in the pharmacy business and the first in the core retail district. The pharmacy will refund the case early. It is located in a pharmacy in Lockhart Road, Causeway Bay. It was originally rented for 300,000 yuan per month until August next year, but it has recently been retired nearly one year earlier.

Gaodeng Pharmacy withdraws from Lockhart Road

It is reported that Shop No. 2 and Shop No. 3, G/F, Kyoto Plaza, 491-499 Lockhart Road, Causeway Bay, has a construction area of ​​about 885 square meters. It was originally rented by Gaodeng Pharmacy in 2013. The monthly rent was originally RMB 398,000 and the lease was about RMB 450. The shop lease expired last year, and the rent was reduced to 300,000 yuan. The rent was reduced to about 339 yuan. The contract was signed for two years until the end of August next year.

However, the pharmacy suddenly closed down this month and left the market 11 months earlier than the original lease

It is not known whether compensation must be paid to the owner. In the four major retail districts of Causeway Bay, Central, Tsim Sha Tsui and Mong Kok, the first ones were “surrendered".

According to the information of the estate agent, the above-mentioned Kyoto Plaza site has been re-launched for market rent. The current asking price is 230,000 yuan per month, and the rent is 260 yuan. The old rent signed by Gaodeng Pharmacy a year ago fell by 70,000 yuan. 23.3%.

The Gaodeng Pharmacy also last month rented a floor covering No. 45, Tongcai Street, Mong Kok, which lasted for 20 years. The building area was about 600 square meters and it was moved out due to the expiration of the lease. The shop is currently renting at a rent of $380,000 a month, and the rent is similar to the old rent.

Pharmacies are the most popular merchants in recent years, and they have rented multiple shops in many core retail areas. In 2017, they began to expand. However, under the reduction of passengers, such pharmacies that are not chain-operated by large-scale groups have been the hardest hit, and they have also become the first industries to shrink.

In addition, at the beginning of August, the original pharmacy rented 200,000 yuan per month on the ground floor of No. 70, Percival Street, Causeway Bay. The building area is about 1,000 square meters, and the rent is about 200 yuan. However, after the pharmacy was booked, it was seen that the market conditions had deteriorated and it was decided to rent it. The loss was equivalent to the deposit for one month’s rent. The shop is still on the market with a monthly rent of $200,000, but it has not yet been rented out.

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