Peak promises the height of variety

PUBLISHED : Wednesday, 13 January, 1993, 12:00am
UPDATED : Wednesday, 13 January, 1993, 12:00am

VARIETY and reasonable prices will be offered by Hang Lung's newest shopping centre, The Peak Galleria.

The retail complex, which is due to open at the end of April, is 80 per cent completed and promises to offer shoppers a varied trade-mix. It is located adjacent to the Peak Tram station.

Colliers Jardine's retail division associate director, Ms Julie Ang, said it had been designed to appeal to both tourists and local residents.

Ms Ang said Colliers Jardine had been marketing the project for about four months and had achieved an average rental of about $135 per square foot in the shopping centre.

There had already been firm offers made on 38 per cent of the space in The Peak Galleria but Hang Lung had decided to hold back from accepting any offers.

Ms Ang could not provide figures for the expected rent increases, but predicted rentals for small units between 200 and 250 sq ft would be about $200 per sq ft per month.

The shopping centre comprises a 100,000 sq ft net floor area, with three levels of retail space plus a large car parking area with room for 420 cars and 40 coaches.

There will probably be about 80 shops in the complex.