• Thu
  • Jul 31, 2014
  • Updated: 8:27am

Retail Rents

Jewellers say no to high rents forprime shop sites

Retailers selling luxury watches and jewellery are rejecting the idea of paying big premiums for prime street-front shops, as mainland shoppers spend less on expensive gifts.

Friday, 31 May, 2013, 4:41am

Mainland Chinese's declining spending hits rents for Hong Kong's street-level shops

Retail sales by volume were up 10.2 per cent year on year in March, down from a growth rate of 21.9 per cent in February, according to the latest government data. Growth in sales of jewellery, watches and high-priced gifts slowed even more sharply, falling from 27.9 per cent in February to 9.8 per cent in March.

30 May 2013 - 3:33pm 3 comments

Hong Kong retail rent growth seen at 5pc this year, says consultancy

In its new report, Jones Lang LaSalle says the limited availability of retail space and consequently high rents in prime shopping districts continue to challenge cost-sensitive retailers, many of whom are no longer able or willing to commit to paying higher rents.

1 May 2013 - 3:44am 1 comment

Letters to the Editor, April 21

The danger of a conflict between China and Japan over islands in disputed waters, such as the Diaoyu Islands in the East China Sea, is always possible, given the rise of militarism in both countries.

21 Apr 2013 - 4:56am 1 comment

The slow death of small businesses in Hong Kong

Over the past decade, car-repair shop owner Benny Chan has seen more than 70 per cent of his small-business peers disappear as his neighbourhood fills up with high-end Western bars and Japanese restaurants.

3 Apr 2013 - 5:07am

Hong Kong planners must cater to noodle shops amid unsavoury rent rises

There is nothing quite like the great wonton and noodle shops in Hong Kong. They are not fancy places, but have been in the same location for ages - beloved local institutions with lifetime customers. But, in the past few months, several historic noodle shops and cafes have closed due to rising rents.

16 Mar 2013 - 2:40am 4 comments

Soaring rents in prime locations push out local shops and restaurants

When the lease on the 600-square-foot shop at 35 Yiu Wa Street, two blocks from the Times Square commercial-office complex, came up for renewal recently, Jennifer Cheung was shocked by the size of the increase.

20 Feb 2013 - 9:40am

Hong Kong leaves New York in the shade for prime retail rents

At US$4,335 per square foot a year in the fourth quarter last year, the average rent for a prime shop was well above second-placed New York, where rents were 46 per cent lower at US$2,970. London came in third at US$1,080 per sq ft.

8 Feb 2013 - 5:20am 7 comments

It's time landlords stopped eating away at the industry

According to the food and beverage industry rumour mill, a bar that has been a Wan Chai institution for more than 10 years is closing as its rent rises to HK$400,000 a month.

31 Jan 2013 - 9:48am 1 comment

Call for last orders after 45 years

The 45-year-old Kam Kee Cafe in Shau Kei Wan will be closing next month after the property owner asked for a 150 per cent increase in rent.

28 Nov 2012 - 2:37am

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