Luxury brands find their way back to Hong Kong’s core shopping districts

Chanel recently leased space at Capitol Centre in Causeway Bay.

The leasing market in Hong Kong sees the return of high-end or luxury brands to core shopping districts.

According to a JLL report, Chanel committed to a portion of the retail podium (18,000 sq ft in total) at Capitol Centre in Causeway Bay for a reported monthly rent of about HKD 4.0 million. 

“Besides, two ground floor shops (2,500 sq ft in total) of Golden Crown Court at 66-70 Nathan Road in Tsim Sha Tsui were reportedly leased to Luk Fook Jewellery for a monthly rent of HKD 550,000, about 38% discount from the last lease committed in 2019, the report added.

Investment market sentiment improved in May, with some sizeable deals recorded in core areas. Notably, two ground floor shops (3,076 sq ft in total) at Mongkok Building in Mongkok were reportedly sold for HKD 150.0 million (HKD 48,765 per sq ft) by the Tang-shing-bor family at an estimated yield of 3.6%.