Futu could be paying HK$1.2 million (US$154,000) per month in rent, a steal compared to the HK$8.6 million in monthly rent that Burberry paid in 2018

Futu Securities International (Hong Kong) has scooped up a prime retail space in Hong Kong’s Causeway Bay, according to market sources, as one of China’s fastest-growing online brokers doubles down in one of the world’s most expensive retail areas to prepare for a bull run in the stock market.

Futu will occupy the street-level space in Soundwill Plaza on Russell Street that was left vacant since February by the Transformers: The Ark restaurant. The broker could be paying HK$1.2 million (US$154,000) per month to add another bricks-and-mortar branch to its online business, according to agents’ estimates. Futu declined to comment.

The rental charge for the 4,540-square foot (421.8 square metres) space occupying three floors - currently under renovation - has risen by a fifth since the Transformers restaurant’s owner iFree vacated the shop, agents said.

Still, the rent is about an eighth of the monthly charge of HK$8.6 million that Burberry paid in 2015 to the landlord Soundwill Holdings during Hong Kong’s pre-pandemic retail boom. The British fashion brand ended its lease in 2021, two years into a slump that was sparked by anti-government protests and followed by the pandemic-era travel restrictions. Transformers restaurant took over the space from Burberry.

“We have seen more leasing activities, but they have not translated into higher rents,” a property agent said.

Russell Street is in one of Hong Kong’s main shopping districts. Shops along the 250-metre long thoroughfare had to pay US$2,671 per square foot on average in annual rent as recently as 2018. That made it the world’s costliest retail strip, surpassing the Champs Elysees boulevard in Paris, Omotesando in Tokyo and Fifth Avenue in Manhattan, according to a property agency.

Six years and a pandemic-driven recession later, monthly rent on the street had fallen by 46 per cent to US$1,430 per sq ft, trailing the Tsim Sha Tsui district on the Kowloon peninsula at US$1,607 per sq ft.

Futu, founded in Hong Kong 12 years ago by Li Hua, has been aggressively opening new shops in Causeway Bay, Mong Kok, Tsuen Wan, Tsim Sha Tsui and its base in Admiralty to expand its physical presence to attract customers. Its existing branch in Causeway Bay along Lee Garden Road is spitting distance from Russell Street.

The strategy underscores the need by some brokers to set themselves apart from the anonymity of online competition, where zero-commissions trading and bot-assisted advisers are winning the battle for retail investors.

The expansion also comes at a time of improved stock market performance in Hong Kong, where the Hang Seng Index had topped the world’s major benchmarks with its 16 per cent surge this year. Brokers expect the bull run to continue, as the economic outlook stabilises in mainland China, while more than 100 companies are waiting to launch their initial public offerings in the city.

Some leasing momentum has been observed in the market. Between December and February, the city’s 10 largest rental deals included those of brokerage firm Longbridge, which leased 8,500 sq ft on Nathan Road in Tsim Sha Tsui for HK$1 million a month. Citibank renewed its lease for a 7,585 sq ft space on Hennessy Road in Causeway Bay for HK$850,000 per month.

Also among the 10 largest leasing deals was TruffleBakery’s 3,133 sq ft space at The Hedon in Causeway Bay, which the Tokyo-based bread shop secured for a monthly rent of HK$300,000.

Hong Kong’s retail sales dropped for the 12th straight month in February, slumping 13 per cent to HK$29.4 billion from a year earlier, according to the latest data from the Census and Statistics Department.

Hong Kong’s retail sales “could come down by a low single-digit percentage” this year compared to 2024, according to the latest report by Jefferies analysts Chen Shujin and Sam Wong. UBS revised its 2025 retail forecast to flat, from a 5 per cent decline in an earlier estimate, as the shopping sprees by the city’s residents to Shenzhen abate.

“Hong Kong retail sales had the highest base in January-February 2024, and the base effect will turn more favourable from April onwards,” Chen and Wong wrote.

(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 Office for Lease in The Hedon please visit: Office for Lease in The Hedon

For more information of Grade A Office for Lease in Causeway Bay please visit: Grade A Office for Lease in Causeway Bay

Property deals rise to four-month high

Hong Kong recorded 6,661 property transactions in March, up 54.7 percent from February and 32.9 percent year-on-year, hitting a four-month high, according to Land Registry data.

Among the agreements, 5,367 were for residential units, surging 67.7 percent from February and climbing 35.2 percent year-on-year.

The total value of residential homes sold was HK$38.8 billion, up 68.7 percent from February and 29.1 percent higher than a year earlier.

Total sales for all building units was HK$45.6 billion, a 61.4 percent increase from February and a 22.1 percent rise year-on-year.

In the primary market, phase 1A (2) of Sun Hung Kai Properties's (0016) massive Sai Sha project, Sierra Sea, may open show flats over the Easter holidays.

SHKP's real estate agency general manager Andy Chan Hon-lun said the project is expected to receive presale consent today or tomorrow, after which the group will upload the project's sales brochure and announce pricing.

In other news, the government is actively exploring measures, including "pay for what you build," to accelerate the development of the Northern Metropolis, says Secretary for Development Bernadette Linn Hon-ho.

The initiative will allow tailor-made lease modifications so that the land premium payable for the development will be assessed according to the company's proposed land uses of the site, Linn said.

This approach aims to align land premiums with business intentions, preventing valuation discrepancies, she said.

(The Standard)

銅鑼灣金朝陽中心巨舖獲承租 富途證券進駐 每月租金約140萬

港人北上消費成風，對本港餐飲業造成衝擊，相反近期股市表現向好，大型券商繼續擴充步伐。市場消息透露，銅鑼灣羅素街38號金朝陽中心地下三個相連舖位及1樓，面積合共逾7000方呎，據悉最新獲富途證券承租，市場料每月租金約140萬。

消息透露，金朝陽中心地下A、B及C三個相連舖位，面積合共約3229方呎，1樓面積則約3873方呎，即面積合共約7102方呎，最新租予一間大型券商，市場料每月租金約140萬，平均每方呎租金約197元。本報曾就上述消息向金朝陽查詢，但該公司未允置評。

平均呎租197元

據悉，新租客為富途證券，該行自2023年7月在尖沙咀開設首間實體門店之後，不斷加快擴充步伐，已經先後在旺角、荃灣及銅鑼灣利園山道開設實體門店。

該行認為實體店可以為投資者提供互動交流空間、學習平台，同時亦可展示公司產品及為投資者辦理開戶手續。

金朝陽未允置評

值得留意的是，金朝陽中心剛租出的舖位，其中地下A、B舖及1樓，涉及面積合共約5200方呎，早於2022年初曾以每月100萬，租予全港首間變形金剛主題餐廳，因而成為市場談論焦點。

該餐廳於2023年4月正式開業，以博派使用的方舟The Ark為主題，如置身大型太空飛船，更設有3米高柯栢文機動模型、3D裸眼技術動畫及專賣店，然而業主去年7月委託租務代理重新招租。

翻查資料，該兩層舖位亦曾獲BURBERRY以每月約770萬租用，該品牌於2015年以每月880萬續租，然而爆發新冠疫情之後，奢侈品零售市場受到衝擊，多個國際品牌放棄旗艦店，及BURBERRY亦決定不再續租並遷出。

(星島日報)

更多金朝陽中心寫字樓出租樓盤資訊請參閱：金朝陽中心寫字樓出租

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

資策中環商廈連錄成交涉1.2億

資本策略旗下中環綜合商業項目德林大廈 (DL Tower)，最新售出地下舖位及20樓全面商業樓面，成交價合共逾1.2億。

最新售出的樓面為項目地下商舖，面積約2232方呎，成交價8000萬，成交呎價約3.58萬。該商舖設來去水裝置，現時由餐飲業承租，將連同租約一併出售，每月租金約25萬，按成交價計算，新買家租金回報率約3.7厘。

至於另一宗成交為20樓全層單位，面積2371方呎，成交約4030萬，成交呎價約1.7萬。

地舖8000萬沽

資本策略地產執行董事何樂輝表示，是次項目連環錄得成交，均由投資者承接，反映商業市場經過一輪調整後，投資者已消化消息，觀望情緒逐漸減退，對商業市場重拾信心，相信隨着整體市況再度向上，商業物業將回復暢旺。

已售出50%樓面

他又說，項目至今已經售出50%商業樓面，包括德林控股斥資接近3億，購入大廈最高5層全部單位及命名權，呎價逾2.53萬。現時項目尚餘11層商業樓面待承接。

資料顯示，德林大廈位於威靈頓街92號，毗鄰蘇豪區及蘭桂坊，大廈樓高23層，採用玻璃幕牆設計，設有3部高速升降機，樓層面積約2232至3056方呎。

(星島日報)

更多德林大廈寫字樓出售樓盤資訊請參閱：德林大廈寫字樓出售

更多中環區甲級寫字樓出售樓盤資訊請參閱：中環區甲級寫字樓出售