Exclusive | Box office bust? The show may be over for another Hong Kong cinema
IFC Mall is reportedly looking at the big picture as it explores potential tenants to replace upscale movie theatre Palace IFC
Sun Hung Kai Properties (SHKP), which manages the mall in Central, had been reaching out to select industry contacts to explore options as the struggling cinema business had generated weaker foot traffic, the people added.
“With the space’s size and its position in the mall, it is less straightforward to find a domestic tenant, so they may need to explore overseas alternatives,” a property agent involved in the discussions said, adding that premium shopping centres in Hong Kong were always keen to bring in new names. No formal leasing appointment has been made.
SHKP declined to comment. The mall is jointly owned by SHKP and Henderson Land.
Palace IFC is operated by Edko Films, a film distributor which also manages 13 cinemas and 77 screens in Hong Kong under the Broadway Circuit brand. The upscale Palace IFC has five screens and 544 seats. Edko did not respond to a request for comment.