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中遠大廈全層意向呎價2.8萬


上環中遠大廈全層標售,面積約19746方呎,部分交吉及部分連租約,意向呎價約2.8萬,涉資約5.52億。

意向價5.52

代理表示,上環皇后大道中183號中遠大廈23樓全層,面積約19746方呎,將以部分交吉及部分連約放售,以公司股權轉讓交易,意向呎價約2.8萬,涉資約5.52億,物業可享海景及山景;當中06至12室,面積約9005方呎,現租客為大型貴金屬投資公司,月租約46萬,租期至2022年6月。截標日期為2022年1月12日。

該代理表示,香港未來發展以「南金融、北創科」的「雙重心布局」作為方針。

該代理續稱,中遠大廈為上環區指標甲廈,不論質素及配套都有保證,已獲不少本地企業、中資機構、政府部門及外國領事館租用,包括香港人壽、市區重建局、銀聯信託及哈薩克駐港總領事館等。

油麻地鋪每呎4.72萬放售

另一代理表示,油麻地德昌里2號昌發大廈地下11號鋪,建築面積約165方呎,意向價約780萬,平均每方呎約47273元。該鋪位位處小巷單邊,間隔四正實用,現由連鎖洗衣店承租,為實力租客,鄰近民生消費區。

(星島日報)

更多中遠大廈寫字樓出售樓盤資訊請參閱:中遠大廈寫字樓出售

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上環中遠大廈 樓面大配套足

中遠大廈位於上環心臟,樓面大而配套足,適合大型企業使用,同時亦是投資之選。

中遠大廈是一幢位於上環核心商業區的甲級商廈,坐落於皇后大道中183號,屬於分散業權的商廈。目前物業可提供出租及出售,與同區其他甲級寫字樓比較,該物業在租務成交方面較買賣成交為頻密。

樓齡約23 每層逾2萬呎

中遠大廈在1998年落成,樓齡約23年,物業樓高共53層,設有16部升降機,以樓層作分隔,每層提供4部升降機,達至分流效果。大堂亦設水牌指示,方便商客到達所屬樓層。

物業每層約20,946平方呎,景觀方面以城市景及部分海景為主,該物業滙集不同的金融機構進駐,與此同時,市區重建局亦在該物業設立總部。

交通配套方面,中遠大廈位處上環核心,交通配套十分齊全,巴士路綫能往返九龍及新界,亦鄰近港鐵上環站E2出口,由出口步行約2至3分鐘便到該物業,附近亦設有電車站,方便商客來往港島地區。集合各項交通優勢的條件,可以為商客提供不同形式的商務體驗。

處中環上環之間 美食選擇多

餐飲方面,該物業處身於中環及上環之間,選擇美食更有彈性,就以中環為例,該處一帶設有不同類型的西式美食,為商客及上班族提供更全面的西式餐飲體驗。

如果對中式餐飲更有興趣,亦可步行至無限極廣場信德中心一帶,該商場設帶中式酒樓,方便熱愛中式美食的商客進行商務餐飲。

近期,中遠大廈亦錄得租務成交,單位為低層13A至15室,面積約2,350平方呎,望向城市景為主,近日以13.3萬元成交,平均呎租約57元;至於高層06室,面積約2,175平方呎,望向城市及部分海景,以14.1萬元成交,平均呎租約65元;另成交單位為高層04至07室,面積約5,628平方呎,望向城市及海景,以42.2萬成交,平圴呎租約75元。

(經濟日報)

更多中遠大廈寫字樓出租樓盤資訊請參閱:中遠大廈寫字樓出租

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灣仔海港中心全層 意向呎租50

港鐵會展站有望明年啟用,灣仔北甲廈可望看高一綫。現灣仔海港中心全層放租,意向呎租約50元。

具基本裝修 月租約70

代理表示,有業主放租灣仔海港中心12樓全層,面積約15,929平方呎,現時交吉,有基本寫字樓裝修,以每呎約50元放租,每月約70萬元。據悉,港鐵沙中綫過海段明年有望通車,海港中心鄰近會展站,相當便利,適合作集團總部,而單位屬罕有全層,享煙花海景。

租務方面,該廈近期級兩宗租務,中層05室,面積約2,032平方呎,以每呎約60元租出。另中層09室,面積約900平方呎,以每月近4萬元租出,呎租約44元。

(經濟日報)

更多海港中心寫字樓出租樓盤資訊請參閱:海港中心寫字樓出租

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長江集團中心呎租112元升3%

近期商廈租賃趨活躍,業內人士預計未來逐步回穩,有外資金融公司提早續租甲廈,美銀 (前稱美銀美林) 或相關人士提早近一年續租中環長江集團中心共7層樓面,月租1677萬,較兩年前租金加幅不足3%。

美銀1677萬提早續租

上述由美銀續租的物業,為長江集團中心37 至40 樓4 層、以及52 、53 、55樓,合共7層樓面,總樓面約15萬方呎,美銀於2014年9月起租用,租約期8年,明年8月底約滿;當時的租約條款為首3年 (即2014年9月至2017年8月) 月租1497.9萬、每呎約100元,第4、5年 (即2017年9月至2019年8月),月租提升至約1632.7萬,平均呎租約109元,再其後3年 (即至2022年8月底前) 則按市價計算。

涉15萬呎租期六年

美銀於本月初與大業主長和系提早訂立新租約,上述7層樓面全部續租,租約期由2022年9日至2028年8月底,租約期6年,另有3年續租權,首3年月租約1677.6 萬呎租約112元,意味較2017年9月至2019年8月期間,租金只高約3元或2.7%,第四年起則按當時市值計算。

世茂集團主席許榮茂持有的中環中心一籃子甲廈,其中一個單位,獲內房寶龍地產提早半年續租,每月21.6萬,較兩年前舊租低約20%。

(星島日報)

更多長江集團中心寫字樓出租樓盤資訊請參閱:長江集團中心寫字樓出租

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甲廈租賃氣氛改善料明年初租金見底 代理:中環區料率先回穩

本港疫情走勢平穩,為甲廈市場釋出正面訊息,有代理指出,近期甲廈租金及承租情況均見改善,料明年首季甲廈租金將「見底」,若中港兩地短期內通關,屆時中資企業勢將「回歸」,以中環區最受惠,料該區租金有力率先回升。唯該代理強調,市場於未來兩年處供應高峰期,加上空置樓高企,強調明年仍處「康復期」,租金只能逐步回升。

受疫情等因素打擊,甲廈市場陰霾密布,該代理接受本報訪問時指出,甲廈市場最新空置率約11%,較今年第二季的10.8%輕微上升,涉及樓面約900萬方呎,唯市場近期租賃已轉趨活躍,今年至今市場暫錄340萬方呎承租樓面,較去年全年的220萬方呎,明顯彈升約逾5成,反映市場已見回暖,唯計及退租樓面,市場仍處於負吸納量狀態,今年至今暫錄負吸納樓面約74萬方呎。

翻查資料顯示,甲廈空置率11%為過去17年新高,對上高位為2004年9月11.5%,歷來高位為1999年底的14.4%,至於現今空置樓面約900方呎,則為歷來新高水平。儘管甲廈空置情況居高不下,該代理強調市場最差時間已過去,該代理指出,隨近期本港疫情走勢穩定,零售市道已見復甦,本港失業率新報4.3%,於短短七個月內從高位的逾7%大幅回落,反映本港經濟基礎良好,加上近期市場盛傳中港兩地於短期內有機會通關,故明年整體市況仍值得看俏。

最差時間已成過去

該代理指出,受社會運動於2019年中萌芽發酵、新冠肺炎緊接於翌年初爆發至今,甲廈租賃交投淡靜,企業紛削減承租樓面以求存,唯今年第二季,市場已見改善,據市場消息盛傳,一家中資金融公司早前承租中環國際金融中心一期約7萬多呎樓面,近期續租時,再擴充承租4萬方呎樓面,打破甲廈近兩年企業DOWNSIZE的悶局,亦為市場釋出正面訊息。

中資企業勢將「回歸」

對於現時甲廈空置樓面達900萬方呎,該代理回應指,甲廈市場每年正常空置樓面為360萬,故現今市場較該正常水平高出逾500萬方呎,以市場每年平均吸納量約170萬方呎計,上述空置樓面需約3年時間消化,加上未來兩年為甲廈供應的高峰期,涉及樓面約650萬方呎,若該數字加上空置樓面,涉及樓面高見1550萬方呎,故儘管明年市況改善,市場仍處於「康復期」,整體租金亦不會出現急速彈升。

該代理亦指出,受多項不明朗因素困擾,中資企業近年承租步伐明顯放緩,令市場出現滯後 (Pent-up demand) 狀態 ,中港兩地可通關,中資企業勢將「回歸」,並為甲廈市場的承租主力,環顧現今租金明顯處於低水平,對中資企業甚具吸引力,故料中環區甲廈租金於明年可率先回升。

當被問及明年甲廈租金走勢時,該代理回應指,甲廈整體租金從高位大幅回落約26%,中環為當中「重災區」,該區跌幅達30%,唯近期跌幅已見明顯放緩,因去年全年跌幅為20% (今年至今僅約6%),故可以預期現時市場離底部不遠,市場走勢將視乎疫情發展,料明年首季甲廈租金將「見底」,屆時租金可現低位橫行,及後有機會出現輕微升幅。

(星島日報)

更多國際金融中心寫字樓出租樓盤資訊請參閱:國際金融中心寫字樓出租

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甲級寫字樓租務改善 價量皆升

本地疫情緩和,帶動甲廈租務有改善,租務成交有增,而租金亦按月輕微上升。

有代理行最新發表的報告指出,10月份整體甲級寫字樓市場租金按月上升0.2%,為自2019年5月的高位以來首次錄得升幅。主要分區市場中,中環區和尖沙咀皆錄得租金升幅。

10月整體甲級寫字樓市場錄得107,200平方呎的淨吸納量。市場錄得更多擴充成交個案,而租戶在選擇辦公空間時會重視靈活性和健體配套設施。其中,共享辦公室的IWG集團再拓據點,集團指,將於銅鑼灣Tower 535 開設Spaces在港的第6個中心,新址總面積達2.34萬平方呎,計劃2022年1月開放。該中心提供超過300多個辦公位置及供1至60人使用的私人辦公室,另有商務俱樂部供企業會員作流動辦公和非正式會議之用。

IWG集團租 Tower 535 兩層

是次涉及租用樓層為 Tower 535 的11樓及12樓全層。據了解,該批樓面原由共享空間辦公室品牌WeWork租用,該品牌早年大手租用物業8層合共約9萬平方呎樓面,早前全數遷出,現由另一品牌頂上租用其中兩層。

中區方面,市場上有擴充及升級個案,中環交易廣場三座16樓全層,面積約1.1萬平方呎,以每呎約120元租出。按呎租計,較高峰期回調約2成。新租客為外資機構Lombard Odier,屬瑞士私人銀行。據悉,該機構亦租用置地旗下交易廣場二座39樓,約7,500平方呎單位,如今因業務擴充,租用3期全層單位。

另同區遮打大廈5樓單位,實用面積約1.5萬平方呎,實用呎租約130元。新租客為Schonfeld Strategic Advisors,屬美國對冲基金。該機構原租用同區萬宜大廈,面積約8,000平方呎辦公室,如今面積擴充近1倍外,並作出升級。

空置率方面,整體上仍處偏高水平,該代理行資料顯示,整體10月份甲廈空置率為9.7%,按月微跌0.1個百分點,而中環現為7.9%,按月微升0.1個百分點。九龍區方面,尖沙咀區突破10%。

該行代理表示,隨着租戶在選擇辦公空間時會重視靈活性和健體配套設施,業主應密切留意這趨勢及持續增長的需求,並提升辦公空間內的設施。

(經濟日報)

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商廈上月81買賣 8個月低

有本地代理行資料顯示,10月商廈錄81宗買賣登記,試8個月新低。

該行代理表示,股市在低位整固,暫無再大跌,加上通關有望,料整體氣氛改善亦可帶動商廈市道回暖。根據土地註冊處數據,2021年10月份全港共錄81宗商廈買賣登記 (數字主要反映2至4星期前商廈市場實際市況),較9月份的91宗減少11%,連跌兩個月並創8個月新低,反映當月觀望施政報告及節慶假期較多等因素而令登記進一步減少。

雖然10月份登記量持續偏軟,但金額卻逆市上升26%,主因是期內錄得一宗近12億元的大額登記撑起,刺激月內商廈買賣登記金額錄約29.77億元,為近3個月來的高位。至於,10月份上述最矚目的單一登記項目為荔枝角道888號29至31樓連廣告位A及B,涉及合約金額逾11.88億元;其次為同座商廈19至20樓的近6.79億元登記。

按物業價格劃分,在7個價格組別當中,錄得四跌一升兩持平。在跌幅者中,以1億元或以上組別的50%跌幅最大,月內登記量由前月的6宗降至上月3宗;而5,000萬至1億元以內組別亦挫25%,只錄得3宗登記。至於登記量最活躍的是介乎500萬至1,000萬元以內的組別,月內錄得24宗,惟按月亦跌20%;而1,000萬至2,000萬元以內組別的登記則成為唯一逆市上升者,月內漲21%至17宗。

沙田僅1 急跌92%

至於以地區劃分,在該行觀察的11個分區當中,共有5區的登記量按月減少。當中以沙田區的92%跌幅最急劇,由前月的12宗挫至上月只有1宗。此外,旺角/油麻地區及灣仔/銅鑼灣區亦分別只錄得10宗及8宗登記,按月各自跌50%及33%。至於逆市錄得升幅最顯著者是觀塘區,由9月的2宗增至10月的14宗,增幅高達6倍,並成為月內登記量最活躍的觀察區。

該代理指出,商廈經過連番回落後,料隨港股在低位整固喘定,加上目前疫情受控,經濟及失業率仍見改善,再配合首階段通關有望短期成事,有助推動整體市場氣氛。綜觀11月份截至23日,商廈買賣登記暫錄逾70宗,按此推算,料全月登記量可達95宗,將按月回升逾一成半;並預期12月市況可保持穩步向好趨勢。

(經濟日報)

更多荔枝角道888號寫字樓出售樓盤資訊請參閱:荔枝角道888號寫字樓出售

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勉勵龍全幢200萬租出 華潤物流收3.4厘回報

由華潤物流持有的粉嶺勉勵龍中心全幢,以每月200萬租出,平均呎租13元,以今年中購入價計算,回報逾3.4厘。

上址為粉嶺安樂門街35至37號勉勵龍中心全幢,佔地面積60547方呎,總樓面152762方呎,以每月200萬租出,華潤物流於今年6月向鄧成波家族購入,作價6.95億,平均呎價4550元,最新回報為3.4厘。

平均呎租13

今年上半年粉嶺工廈投資活動活躍,價格升勢凌厲,隨着施政報告提出建設北部都會,區內更被看高一綫。此外,政府政策有利工廈,包括活化計畫和標準金額措施,令工業資產被定位為具吸引力的投資資產類別。

華潤物流活躍於市場,除了勉勵龍中心,今年亦購入屯門東亞紗廠工業大廈全幢,作價22.4億,屬今年以來市場上第二大宗全幢工廈成交,該全幢樓高15層,總面積約466449方呎,平均每呎4802元。

世達中心每呎5059元售

觀塘世達中心錄1宗成交,平均呎價約5059元,物業於24年升值逾1.86倍,萊斯物業高級客戶董事古海梅表示,觀塘巧明街95號世達中心單位,建築面積約1848方呎,以935萬連約成交,平均呎價約5059元,市場呎租約19元,回報率4.5厘,原業主於1997年322萬購入,持貨24年,帳面獲利602萬,新買家為區內投資者。

(星島日報)

 

九龍城龍崗道鋪2600萬售 正八集團廖偉麟沽貨四年升值31%

港鐵屯馬綫開通後,九龍城鋪位備受注目,有投資者趁勢沽貨,正八集團主席廖偉麟持有的九龍城龍崗道地鋪,以2600萬易手,平均呎價2.16萬,持貨四年升值31%。新買家料享回報約二厘。

上址為九龍城龍崗道31號地鋪,面積約1200方呎,以成交價計算,平均呎價約2.16萬,是次連租約易手,租客為日式食肆,月租約4.35萬,新買家料享回報2厘。該鋪位門面闊約11呎7吋,樓底高約11呎11吋。

平均呎價約2.16

廖偉麟表示,他於2017年2月以1980萬購入,其時交吉,造價亦偏低,當時由涼茶老店「陳仔葛菜水」租用,店主年紀老邁,決定結束營業,業主交吉沽貨,他購入後,為鋪位覓得新租客。

他續說,近期趁屯馬綫落成,區內鋪市氣氛熱鬧,套現資金轉投甲廈及鋪位,擬斥資20億掃貨,目標鎖定甲廈、大型乙廈或一綫區鋪位。他表示,近年民生區鋪位租售價上升,反而一綫區租金租售價急跌,價格低水,是吸納時機。他又認為,在通關後,預期商廈及鋪位價格錄逾20%升幅。

擬斥20億購商廈鋪位

廖偉麟近年不但鎖定核心區商廈,他亦入市非核心區,今年9月,九龍灣企業廣場三期高層全層,於交吉逾一年後,由他以1.43億承接,呎價僅8900元,低市價逾20%,並創該廈疫市以來呎價新低。上述全層共有7個單位,他以7家公司購入,方便日後或作轉售,計畫率先為全層裝修,估計涉資2000萬,等待開關後拆售。

廖偉麟於2018年購入的荃灣海盛路9號有線電視大樓30樓,拆售14個單位,面積約1380至3418方呎,意向呎價由約5500元起,繼去年售出3伙後,今年7月推出餘下11伙發售,並全數沽出。

大角咀海庭道8號富榮花園地下47號鋪,建築面積約583呎,以1939.8萬成交,租客牙醫,月租4.45萬,租期至2023年8月,回報2.75厘,該鋪位門闊約14呎,深約30呎。原業主於2006年11月以490萬買入,持貨15年,帳面獲利1449.8萬,物業升值逾2.9倍。

(星島日報)

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Singapore office rents may overtake HK's

Singapore office rents may overtake those of Hong Kong for the first time since 2009, a sign that the Southeast Asian city-state is gaining an edge over its rival financial hub.

Average office spot rents in Singapore could rise 5 percent to 10 percent in 2022 on the back of a limited new supply, according to a Bloomberg Intelligence report.

Hong Kong's prime office vacancy rate may exceed 12 percent by the end of next year following a supply boom in decentralized districts, analysts Patrick Wong and Kristy Hung wrote.

The contrasting office market outlook reflects the impact of different pandemic management strategies adopted by the cities.

While Singapore is cautiously reopening and work from home remains the default arrangement, it has stopped targeting zero Covid-19 cases and begun easing border controls.

Hong Kong remains closed off to the rest of the world and has strict quarantine rules due to its elimination strategy, which has garnered criticism from global companies.

"We are now transiting towards living with Covid-19 and I know many or some prefer to open up more quickly, but we must do so in a very careful and step-by-step manner," Singapore's Minister for Trade and Industry Gan Kim Yong said at a multi-ministry task force briefing November 20.

Meanwhile, Hong Kong's plans to reopen the border with mainland China may be further pushed back to the end of next month.

Singapore's office market is also benefiting from the "stay-at-home" sectors given the shift in tenant profile in recent years from financial services to technology, a property agent in Singapore said. Hong Kong has been less competitive in attracting new tenants due to its perceived high costs, the agent said.

"With the Covid-zero approach on Hong Kong's part, multinational companies might continue to find challenges in hiring cross-border talent to its shores," the agent said. "That could have weakened the potential recovery trajectory in the occupier market."

(The Standard)

 

Hong Kong’s land-starved builders seek heritage projects for urban plots, cultural cachet

In the past, some might choose to demolish old properties, but now developers are keeping these structures voluntarily, says Hong Kong Institute of Architectural Conservationists executive

Buyers and renters of such developments will feel they are status symbols, property agent said

Hong Kong’s property developers have increasingly taken an interest in heritage projects over the past five years, as such developments enhance their corporate image and let them access valuable urban land.

The number of such projects has risen despite the higher costs and longer time frames involved, the vice-president of external affairs at Hong Kong Institute of Architectural Conservationists (HKICON) said.

“In the past, some might choose to demolish [old properties]. Redevelopment can be faster. But now some developers agree to keep [these structures] voluntarily,” the vice-president said.

The higher interest in heritage projects among builders comes amid an overall bull run in the property market in Hong Kong, the world’s most expensive real estate market. Prices continue to rise despite speed bumps created by social unrest and the coronavirus outbreak over the past three years.

Recent projects with a preservation element include New World Development’s State Theatre in North Point, Jessville in Pok Fu Lam and Kowloon Development’s plan to build high-rise flats at the site of the former St Joseph’s Home for the Aged in Clear Water Bay.

Heritage projects such as 1881 Heritage, a former headquarters of the marine police in Tsim Sha Tsui, attract bigger tenants such as Puyi Optical. The 130-year-old site was revitalised and transformed by Li Ka-shing’s CK Asset Holdings, and hosts luxury shops, fine dining restaurants, hip bars, a heritage hotel and the Heritage Hall, which allows visitors to learn about the history of the development.

Some tenants like such properties as they match their brands, and they may pay higher rent for that. Heritage can be positioned as an attractive selling point that will entice tenants.

Conservation projects cost more and can take more time because of additional government requirements and approvals. They are also more difficult because of constraints such as space and access for machinery. “If there is a good response, I believe others will follow suit,” property agent said. “I hope the government will drive more of such private projects [that involve the] preservation of historical buildings.”

In Hong Kong, declared monuments are protected against demolition by the law, but graded historic buildings are not, the agent said. So when building plans or applications are submitted for historic buildings, the government can suggest that they be preserved. The destruction of such buildings does not mean a breach of law. For example, the Union Church on Kennedy Road in Mid-Levels was demolished despite being graded as a historic building.

“Because of social responsibility and corporate image, some companies are willing to, in such situations, incorporate preserved heritage … in their redevelopment proposals,” a surveyor said.

“Buyers and renters will feel it is a status symbol,” the surveyor said, adding that people who were middle class or above liked such projects, as heritage was viewed as worth appreciation, and such a feature could distinguish these homes from regular housing estates.

But such projects could be challenging in terms of time frames, the effort involved and approvals, the surveyor said. More departments would be involved when it came to approvals, for instance. If some projects needed to be open for public visits, then they would have to satisfy government requirements for opening times and arrangements.

Every project also required extra investment in different shapes and forms. CLP Group and Sino Land’s Argyle Street project, which is now called St. George’s Mansions, needed to keep a clock tower and part of the building for public exhibitions, so there was a capital cost and an operating cost. In some situations, such as Jessville, a premium was needed to be paid to the government.

As urban land was scare in Hong Kong, developers did not mind working on heritage projects, another surveyor said. But there had been few successful cases in terms of commercial return, the surveyor added.

(South China Morning Post)

 

The North Face opens largest Asia store with 3,800 sq ft at K11, betting on Hong Kong’s retail recovery

The outdoor sports brand is opening a 3,800-square foot store in K11 Art mall in Tsim Sha Tsui, seen as a vote of confidence in local retailing industry

Volume and value of deals involving retail assets have grown 12.5 per cent and 52 per cent, according to property agency

The North Face, the US-based brand known for its outdoor apparel and mountaineering gear and equipment, is set to open its largest store in Asia-Pacific in what could be the first tangible sign that Hong Kong’s battered retail property segment is on the mend.

Opening on December 2, the store covering 3,800 square feet in K11 Art mall in the Tsim Sha Tsui shopping district comes as retailers eagerly look forward to welcoming Chinese tourists who could be back in large numbers after the border with the mainland reopens early next month.

“[The K11 store] is the largest store in Asia-Pacific and the broadest representation of the line we have anywhere, so we’re still very focused on bricks and mortar,” said Kevin Bailey, executive vice-president and group president for Asia-Pacific and emerging brands at VF Corporation, whose brands also include Vans, Dickies, Timberland, Supreme and Kipling. VF has 3,800 outlets in Asia.

The store’s opening is a spot of rare good news for Hong Kong’s retail segment, which has seen a number of luxury and mid-market brands close their stores in the city as visitors from mainland China started to dwindle in 2019, hurting their sales.

Last week, British luxury fashion house Burberry said it would shut its flagship store on Russell Street in Causeway Bay when its current 10-year lease expires in early 2022. It will be the third major global brand to close its flagship store on what was once the world’s most expensive shopping strip.

Prada closed its 15,000 sq ft outlet in June 2020, followed by lingerie maker La Perla three months later in September. Topshop, Gap and Victoria’s Secret also closed their operations in the city after they were hit by the anti-government protests in 2019 and later by the Covid-19 pandemic.

While Hong Kong retail sales have been improving in recent months, partly because of the government’s consumption voucher scheme, the reopening of the border between the city and mainland China is likely to further improve sales.

In 2020, total retail sales in the city declined by about a quarter as tourist arrivals fell 94 per cent. Retail sales in September rose 7.3 per cent year on year to HK$28 billion, helped by the HK$36 billion (US$4.6 billion) digital voucher scheme. In the first nine months of the year, sales have risen 8 per cent from the same period last year.

Recent investment trends in Hong Kong have hinted at improving fortunes for the sector. So far this year, the volume and value of deals involving retail assets have grown 12.5 per cent and 52 per cent, respectively, according to property agency.

In August, veteran investor Chang Miguel Yen-shee bought a shop on Pedder Street in Central for HK$710 million, while stockbroker Peter Yip Mow Lum paid HK$525 million for a Causeway Bay retail property, according to the agency.

“With an improving economy and a rebound in sales, retail assets have become increasingly sought-after by investors,” a property agent said. “We believe the next six months will be a good time for investors to bottom-fish” when prices are still negotiable, the agent added.

Another agnet said that physical stores still serve retailers for more experiential and brand-building purposes.

Categories such as food and drinks, spa, salons and learning centres are also likely to take up more retail space in the city, another agent said.

(South China Morning Post)