Hong Kong’s shopping districts enjoy strong leasing momentum

Find out what the notable leases recently.

Leasing momentum continues to gather towards Hong Kong’s core shopping districts, according to a JLL report.

Notably, three ground floor shops (1,640 sq ft in total) at Taurus Building on Granville Road in Tsimshatsui were leased to a cosmetics and healthcare retailer for a reported monthly rent of about HKD 500,000, representing a 46% discount from the peak monthly rent of the lease committed by the previous tenant – Nature Republic.

JLL further said the investment market sentiment improved slightly in June. Notably in Kai Tak, two retail podiums (26,132 sq ft in total) at the Henley I on Muk Tai Street were reportedly sold for HKD 528.0 million (HKD 20,205 per sq ft) to Qixing Property Limited.