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IFC Mall has a shop assistant in Ran Xian Ji Pu, sighs that the business has dropped by 80%, but the owner "hardened and reduced rent"

2020-02-26T00:09:06.661Z


The outbreak of pneumonia in Wuhan, in order to reduce the risk of community spread and reduce the consumption of the public. Some financial institutions allow employees to work from home. The IFC mall in Central is more deserted than in the past. The reporter visited the mall last week


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Written by: Lin Leqian

2020-02-26 08:00

Last updated: 2020-02-26 08:00

The outbreak of pneumonia in Wuhan has reduced the consumption of citizens, tourists have not come, and some financial institutions have allowed employees to work from home. The IFC Mall in Central is more deserted than in the past.

The reporter visited IFC Mall at noon on weekdays last week, and found that there were about 10 shops in the venue, and some of the shops had not been opened for business, becoming a "wonderful view" of this landmark shopping mall. The flow of people has decreased. Ms. Fang, who works at an international brand store on the site, told Hong Kong 01 that she has not been rent-reduced by the owners. Rent will be reduced. "

The retail industry in Hong Kong has fallen into a "severe winter". Following earlier reports that more than 20 "Gift Shops" rarely appeared in Harbour City, another IFC Mall in Central, another large landmark mall in Hong Kong, has rarely seen "Gift Shops".

At noon last Monday (17th) , the reporter visited IFC Mall and found that in addition to some stores that have not been open for business, there are also as many as 10 "seals" in the venue. There are 6 on the first floor, and the second and third floors. There are 3 and 1 respectively. According to the reporter's on-site visual inspection, four of them are undergoing internal renovations, and the rest is unknown whether a brand has been leased. At the same time, three temporary berths on the second and third floors were also vacant.

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"Pre-expensive rent, reduction only for Bonus"

Central IFC Mall, which has always been in high demand for rental, also rarely appears as a "Gift Shop", reflecting the "coldness" of Hong Kong's retail industry. Miss Fang, who works in an international brand store in IFC Mall, revealed to "Hong Kong 01" that the mall has not reduced rent since the social incident last year. "Everyone heard about someone asking for a rent reduction, but the leader (brand) could not say anything. I believe that the chain and the listed brands can survive, and the shops on the first floor will not save lives! "As to whether there will be individual stores that will be rent-reduced by the owners, she said she did not know.

According to her understanding, IFC mall is the most expensive shopping mall in Hong Kong. "If you enter the market, you will have to rent in advance. The rent reduction is only Bonus. However, the company ’s business volume has fallen by 80% recently, and even Harbour City is willing to reduce it. Hope The rent can be reduced by half at the IFC mall. "Ms. Fang also revealed that the mall recently proposed to cooperate with some brands for promotion to attract more people. "Recently, a small number of customers have returned to Lihang Street, and the office buildings upstairs have returned more and fewer people."

The Real Estate Developers Association rarely issued a statement this month saying that its members will continue to explore with the tenants in need various feasible solutions, including the convenience of rent reduction, to ease their operating pressure. Just after the speech, many developers have responded, including the reduction of 50% of the basic rent of the tenants of Harbour City under Wharf Real Estate (1997).

French makeup brand SEPHORA rented IFC mall space last year, covering an area of ​​about 4,000 square feet. The monthly rent is more than 2 million yuan, and the rent is at least 500 yuan. (Photo by Lin Leqian)

SEPHORA IFC branch rents up to 500 yuan

IFC Mall has a number of internationally renowned brands, including Lane Crawford, GUCCI, Chanel, Chloé, etc. French cosmetics brand SEPHORA rented the first floor of the mall in April last year, covering an area of ​​about 4,000 square feet. The monthly rent is more than 2 million yuan. Based on this calculation, the rent per square foot amounts to 500 yuan. Earlier, KIM (pseudonym), a representative of the merchant who initiated the strike, also stated on the radio program that there are IFC shops with a rent of about 1,000 yuan per square foot, but there are shops that only earn hundreds of yuan a day, and even food is not enough.

The major landlords of the International Financial Center are SHKP (0016) and Henderson (0012). According to the annual reports of the two companies, SHKP and Henderson hold 50% and 40.77% equity respectively. As of the end of June last year, IFC brought half-year rent to Henderson. The revenue reached 1.064 billion yuan, which is calculated on a proportional basis, that is, the half-year rental income of the entire IFC office building and shopping mall was as high as 2.61 billion yuan, and the average daily rental income was about 14.5 million yuan. SHKP also pointed out that the IFC mall is almost fully leased out, saying that "tenant sales have recorded satisfactory growth and rental income has been healthy"

SHKP announced earlier that 30% to 50% of the basic rent in February will be reduced or exempted according to the conditions of individual industries or merchants. Henderson announced that retail, catering and education tenants of its malls will receive a 20% to 60% reduction in the basic rent in February. However, it is reported that the IFC mall has not benefited from the rent relief measures for the time being. The reporter has asked the public relations of the IFC mall for details and has not received a reply.

▼ The situation of more than 100 retailers' strikes earlier ▼

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More than 200 retailers are reported to have called for a reduction in rent of about 20 shops in Harbour City.

It is said that half of the rent reduction in February helped merchants fight against the disease in Harbour City: a confidentiality agreement could not be disclosed

[Wuhan Pneumonia] SME Restaurant Alliance Calls for Lead to Reduce Rents

[Wuhan Pneumonia] Federation of Trade Unions asks for rent reduction: it will deal with individual businesses

International Finance Centre (IFC) MallSingapore Henderson Land Retail Market Retail

Source: hk1

All news articles on 2020-02-26

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