Landlord plans to raise the rent for the prime retail space to HK$2.21 million, according to property agents
Russell Street in
Causeway Bay, one of Hong Kong’s most expensive retail strips, has been
witnessing a rapid churn in tenants amid rising rents and lukewarm
sales.
The latest
casualty of the city’s dour retail scene is Prince Jewellery &
Watch, which recently closed its flagship shop after 21 years.
Prince Jewellery’s
decision to close its 1,800 sq ft street-level shop at 58 Russell
Street and at 69 Percival Street came after the landlord decided to
raise the monthly rent to about HK$2 million (US$257,800) from HK$1.1
million, founder and CEO Jimmy Tang Kui-ming said by phone on Tuesday.
Property agents
tasked with leasing the space said the landlord wanted to lease the
ground floor of 69 Percival Street and the whole of 58 Russell Street
for a combined HK$2.21 million. Clover Land Investment, the landlord, is
linked to the family of former Executive Council member Maria Tam
Wai-chu, according to data from Land Registry.
The closure of the
outlet completes Prince Jewellery’s retreat from Causeway Bay, where it
once occupied three shops. The firm, which leased the shops in 2004,
paid around HK$3 million a month at the peak of the market in 2014,
according to property agents.
However, the
city’s retail scene has been mired in a downturn since the social unrest
in 2019 and the Covid-19 pandemic that followed. As a result, shop
rents in the city have taken a massive hit.
Overall rents of
high street shops at the end of 2024 were nearly 40 per cent lower than
2019 levels and down 71.5 per cent since hitting an all-time high in
2014, according to a property agency.
Over the years,
the likes of Burberry and Kiehl’s have also departed from the retail
scene in Causeway Bay, with the slump in rents attracting a variety of
mass-market tenants like cosmetics chains, phone accessories retailers
and money changers.
A local pharmacy
has become the latest tenant on Russell Street – a 250-metre-long
thoroughfare – taking the space previously occupied by Italian luxury
lingerie brand La Perla, the Post reported last week.
Yu Shing, the
pharmacy owner, is expected to pay about HK$1 million a month for the
premises at 22-24 Russell Street, according to property agents, who
declined to be named because the information is private. No other terms
were available.
La Perla, which
signed a long-term lease for HK$7.5 million a month in 2015, vacated the
four-storey building in September 2020 during the Covid-19 pandemic.
Since its exit, the landlord Emperor International has rented out the
space on a weekly or monthly basis, including to pop-up stores.
Hong Kong’s retail
sales dropped for the 12th straight month in February, sliding 13 per
cent to HK$29.4 billion from a year earlier, according to official data.
Sales in the first two months of 2025 shrank 7.8 per cent from a year
earlier as local residents spent a big chunk of their discretionary
income across the border in Shenzhen and elsewhere.
However,
departures by residents moderated to 2.1 per visitor arrival in the
first two months of 2025, compared with 2.3 in 2024, according to data
tracked by the property agency.
Earlier this month, Futu Securities rented a street-level shop on 38 Russell Street, according to agents.
The Chinese brokerage could be paying HK$1.2 million a month to rent the street-level space in Soundwill Plaza
that was previously occupied by Transformers: The Ark restaurant,
according to some agents. The restaurant operator vacated the space in
February.
(South China Morning Post)
For more information of Office for Lease in Soundwill Plaza please visit: Office for Lease in Soundwill Plaza
For more information of Grade A Office for Lease in Causeway Bay please visit: Grade A Office for Lease in Causeway Bay
Sierra Sea in Sai Sha nearly 66 times oversubscribed
Sun Hung Kai Properties’ (0016) massive Sai Sha project, Sierra Sea, has been oversubscribed nearly 66 times, having received more than 21,000 checks for 318 flats.
The project plans to launch 329 flats in its first round of sales this Saturday.
Among those flats,
318 are set to be sold via price list, with discounted average prices
of HK$10,877 per square foot, while 11 units will be sold by tender.
SHKP deputy
managing director Victor Lui Ting expects the US Federal Reserve to
speed up rate cuts and attract more purchases for investment.
(The Standard)
工商舖上半月161成交跌17% 貿戰衝擊 三成商廈準買家暫停入市
中美關稅戰窒礙投資氣氛，影響工商舖買賣降溫。有本港代理行資料顯示，4月首15日 (上半月)，工商舖市場僅錄得161宗買賣成交，按月同期下跌17%。
該行料第二季買賣交投將受壓，按季減少逾3%至約930宗，價格更有10%的下跌空間。而商廈市場近期已有近三成有意買貨的投資者暫擱置入市計劃，預料第二季的交投量會勁跌近三成，表現屬工商舖中最傷。
工商舖次季恐跌價10%
該行代理表示，首季工商舖市場受港股表現強勁及減息環境支持下交投回暖，共錄得約962宗成交，較2024年第四季的779宗上升約23.5%，按年比較增長更高達57.4%；總成交金額錄約120.98億元，較2024年第四季的163.4億元下跌約26%，按年亦下降約36%。反映買賣成交量顯著回升，但整體物業價格仍維持下行，形成量升價跌的趨勢。
不過，新一波地緣政治問題來襲，美國在本月初加徵關稅引發貿易戰，對本港投資市場帶來衝擊，交投未許樂觀。該行資料顯示，4月上半月共錄得161宗買賣成交，涉及金額約16.23億元，較3月同期的194宗及約17.31億元，分別下跌約17%及約6.7%，反映投資者避險情緒已升溫。
該代理指出，中美關稅戰升溫，投資者將減慢入市速度，第二季整體工商舖買賣料會回落至930宗，較首季少約3.3%；成交金額料按季減少9.1%至約110億元。該代理相信，市場觀望氣氛會更趨濃厚，價格繼續尋底下跌約10%才可吸引買家入市。
工廈租售價料按季挫一成
該行另一代理稱，商廈市場對政治及金融較為敏感，近期已有近三成早前表明有意買貨的投資者暫擱置入市計劃，預測第二季買賣成交宗數會跌至約180宗，按季少21.4%；而租售價有下調5%至10%空間。
該行另一代理指出，貿易戰升溫，個別原本有意入市工廈的企業及廠家都會轉買為租，待市況轉趨穩定再作打算，第二季買賣會跌至約500宗，按季少7.4%，售價和租金有10%的下調空間。
該行另一代理相信，由於近月有較多投資者積極以低價推售舖位，回報率大增至6至7厘，回報高而穩定，故有助刺激舖位買賣按季多29.5%至約250宗，售價繼續尋底約10%。
租金預測方面，核心區舖位受惠更多旅遊消費，租金可保持平穩或升約5%；而民生區租金續受北上消費打擊，預料下調幅度會有一成。
灣仔凱利1.6億放售 低估值16%
此外，紀惠集團續低價放售物業。灣仔摩理臣山道70至74號凱利商業大廈地下、1樓及2樓3層舖位，總建築面積約21702方呎，以意向價1.6億元交吉放售，呎價約7373元。有外資代理行透露，物業最新估值為1.9億元，故叫價較估價低3000萬元或15.8%。
資料顯示，紀惠集團於2004年11月以7380萬元購入上址。
(信報)
解除限制 西九擬建住宅大樓
高鐵站啟用後，西九龍為本港交通的重要命脈之一，除了西九文化區的商業項目，西九管理局亦擬推出住宅用地，據初步規劃，未來擬建7住宅大樓，可提供約1,995伙住宅。
政府早年發展西九文化區，以推動文化藝術發展，區內設施已經在近年陸續啟用，包括藝術公園、視覺文化博物館M+及香港故宮文化博物館。而除了文化項目外，西九文化區未來亦有住宅用地待推，及商業項目落成。
允許出售第二區住宅單位
由於西九管理局陷財困，因此去年獲准解除旗下第二區住宅項目只可以「建造、營運及移交」(BOT)
形式發展的限制，及允許出售該區的住宅發展項目。據管理局早前提交的區議會文件，該局擬在柯士甸道西以南、即新地 (00016)
投得的藝術廣場大樓東面「其他指定
(混合用途)」的北面支區用地，發展7幢建於3層平台上的住宅大樓，該平台擬設零售、餐飲及消閒和附屬設施，另外地下3層亦設有綜合地庫，總樓面面積約144.8萬平方呎，當中住宅樓面面積涉約116.8萬平方呎，可建約1,995個住宅單位，零售及餐飲等則佔約28萬平方呎樓面。
文件亦指，該住宅項目亦將設有兩組新的行人通道及出入口，包括設有通道接通住宅及藝術廣場大樓。
至於商業項目方面，前述的西九文化區藝術廣場大樓的發展及營運權，已於2022年11月由新地投得，為期約47年，將以BOT模式發展，負責藝術廣場大樓項目的設計、建造、融資、市場推廣、租賃、管理等工作。項目由3幢商業大樓組成，總樓面涉約70萬平方呎，當中約67.2萬平方呎作辦公室用途，零售或餐飲或消閒用途佔約2.7萬平方呎。
IGC明年交付租戶
值得留意的是，新地近年不斷擴大區內勢力，除了藝術廣場大樓，發展商亦於2019年以高價約422億元投得高鐵站上蓋商業項目，涉及總樓面達約320萬平方呎，提供約260萬平方呎寫字樓及約60萬平方呎零售樓面，而項目的寫字樓部分已經命名為International Gateway Centre (IGC)，新地最新預計，項目於明年開始交付租戶。
不過，中國平安 (02318)
旗下的平安人壽其後於2020年斥資約112.7億元入股項目的辦公大廈約30%權益，屬於郭氏家族公司後，項目的另一長綫策略性投資者。據新地指出，新地目前持有約120萬平方呎寫字樓，及整個零售樓面
(涉約60.3萬平方呎)，即共約180.3萬平方呎總樓面，剩餘的寫字樓部分則由兩名長綫策略性投資者持有。
(經濟日報)
更多International Gateway Centre寫字樓出租樓盤資訊請參閱：International Gateway Centre寫字樓出租
更多尖沙咀區甲級寫字樓出租樓盤資訊請參閱：尖沙咀區甲級寫字樓出租
商廈整合 大量樓面重回市場
有物業顧問發表最新報告指，整體甲廈租賃市場於2月錄得淨吸納量後，3月錄得負吸納量約63,100平方呎，租金亦按月下降0.6%。
3月空置率13.7% 按月微升
該報告指，由於企業辦公樓早前進行整合及搬遷活動，令大量樓面重回市場，租賃市場3月錄得負吸納量約63,100平方呎。整體甲廈空置率亦按月上升，3月錄約13.7%，較2月的13.3%上升。
截至3月底，空置率最高地區為九龍東，錄約21.3%，其次為港島東，約13.2%，中環錄約11.5%，灣仔/銅鑼灣錄約9.5%，最低的為尖沙咀，約8.3%。
3月整體甲廈租金亦按月輕微下降0.6%，當中則以港島東跌幅最大，跌約1.2%，中環及灣仔/銅鑼灣的租金分別輕微下跌0.2%和0.4%；九龍東租金亦下降了0.2%。
(經濟日報)
由永義國際等相關人士放售的銅鑼灣銀座式商廈The Hedon，全幢意向價6億，低市價40%。有外資代理行代理表示，勿地臣街11至15號The Hedon全幢，坐落銅鑼灣勿地臣街及耀華街交界，樓高27層，物屬屬銀座式商廈，總建築面積約46183方呎，全幢市值逾10億，以低市價40%放售，每呎12992元。
該代理續說，該物業每層面積約1955至2142方呎，23至29樓分別3964方呎複式商舖，大廈備2部升降機供標準樓層商戶使用，其中一部可直達天台樓層，此外，大廈更附設專用升降機貫通整個零售基座，方便旗艦店使用。
永義國際等相關人士持有
The Hedon落成於2024年，落地玻璃外牆設計，入口及外牆設戶外廣告位置，部分單位設平台，大廈設複式樓層，現時租戶以國際知名餐廳主導，以消閒娛樂為主。
全幢市值逾10億
由該物業步行至銅鑼灣港鐵站A出口約2分鐘，The Hedon高樓底高承重，餐飲、美容及醫療等適用。市場資料顯示，永義國際等相關人士早年透過收舊樓重建The Hedon，總投資額約10億。該物業鄰近希慎與華懋發展的利園八期，未來將建3幢甲廈，設有6萬方呎公園，有蓋行人通道系統由希慎廣場開始接通利園區，並連接銅鑼灣站。
(星島日報)
更多The Hedon寫字樓出租樓盤資訊請參閱：The Hedon寫字樓出租
更多利園寫字樓出租樓盤資訊請參閱：利園寫字樓出租
更多希慎廣場寫字樓出租樓盤資訊請參閱：希慎廣場寫字樓出租
更多銅鑼灣區甲級寫字樓出租樓盤資訊請參閱：銅鑼灣區甲級寫字樓出租
