The epidemic has not receded and hit Hong Kong hard, social distancing measures have continued, and the bustling downtown areas of the past are no longer lively, and become even more depressed after dark.
According to the latest data, the rental values of many shops in traditional downtown core districts such as Queen's Road Central in Central, Russell Street in Causeway Bay, Canton Road in Tsim Sha Tsui, and Sai Yeung Choi South Street in Mong Kok have fallen. FOREVER21's berths fell by 50%, and many more shops fell by 40%.
In addition, on Russell Street, which was once known as the "world's most expensive street", many famous shops have been withdrawn, and the rental value of some shops has dropped by about 20% or more. , and become a bulk yard for rapid testing agents.
On Saiyang Choi South Street, Mong Kok, many ground-floor shops have been turned into supermarkets, and many of them will also sell rapid test kits at the same time.
(Photo by Liao Yanxiong)
+2
The front store of Forever21 in Mong Kok slumped by 50%, and a special store emerges on the South Street of Watercress
Saiyangcai South Street in Mong Kok is the core first-tier street with the strongest decline. Many stores have dropped by 40% to 50%. Among them, the giant store in Baibaoli Commercial Center, which was once rented by fast food fashion brand Forever 21, has dropped the most, and its latest rental value is strong. It fell 50%, from about 10.92 million last year to 5.46 million.
After Forever 21 left the venue in the early years, the place was turned into a Bauhaus outlet, but now the three floors have been sub-leased, and two of them are now a fitness room and a sporting goods store.
There are at least 9 gilt shops in the area of Xiyangcai South Street, and there are gates covered with posters of "For Rent".
As one of the first-tier streets, many chain stores have settled in Xiyangcai South Street in the past.
However, even if someone rents it, many shops have become outlet or bulk cargo yards. It is estimated that there are at least 8 shops on site, mainly selling electronic accessories, clothing, household goods and so on.
As far as the scene is concerned, some supermarkets have not even been renovated, they are full of cardboard boxes, and there are still leasing notices posted outside the doors. There are also many bulk warehouses that have “changed formations” and sell rapid test reagents in the stores.
In addition, Xiyangcai South Street has also been "reshuffled". For example, the bank center ground floor, which was leased by the electric appliance chain Fortress and the chain drug store Watsons in the past, has now become the BEAUTY AVENUE beauty flagship store.
+7
In Causeway Bay, Russell Street, once known as the "world's most expensive street", has recorded a drop of 20% or more in the rental value of many shops, and even nearly half of the shops have been withdrawn. For example, the section opposite Times Square, at least There are 5 prime shops, including Plaza 2000. After the famous brand "Prada" moved out, only the second floor was rented to the restaurant "Ruby Tuesday". About 21%; and there are at least 2 prime shops on the ground floor of Jin Chaoyang Center, including the former BURBERRY shop.
As for the giant shop in the Jinghua Center, which was previously rented by the American underwear brand Victoria's Secret, it is still empty, and the rental value has also dropped by 23%.
In addition, the holy land of famous stores and jewelry stores has also attracted lower-end civilian stores to seize, including No. 26 Russell Street, which has been replaced by the watch brand "Blancpain", and the ground floors of No. 18 and No. 28 Then we welcomed the mask brands "OxyAIR MASK" and "H-Plus" respectively.
According to the data from the Valuation Department, the rental value of the above three shops has also dropped by about 20%.
In the section of Russell Street adjacent to Hysan Shopping Center, at the corner of the junction with Percival Street, the original famous watch brand Tag Heuer has been withdrawn, and no one cares about it now. The rental value is also increasing by 20% annually. There is a Korean women's clothing store, and it attracts customers with rapid testing, and there is a mobile phone supply store next to it.
+5
In the past, Percival Street, which benefited from the crowds of Russell Street, has become even more severe. At least 17 ground-floor shops along the entire street have been emptied and plastered with advertisements from real estate agents. The former Lukfook Jewelry ground-floor shop at No. 67 has been replaced by a civilian household goods store. "Yi Shijia", there is a suspected short-term rental mobile phone supply store on the ground floor of No. 62. The store has no signboard, only a banner with the name of the store on it, and the shop on the ground floor of No. 86 also has a ginseng and seafood outlet.
There are many auspicious shops on Granville Road in Tsim Sha Tsui, and all the ground floor shops in Deli Building are completely empty.
(Photo by Ou Jiale)
The most expensive shopping street, Canton Road, the rent of many famous shops has dropped by up to 20%
In Tsim Sha Tsui, Canton Road, which was occupied by famous shops and drugstores in the past, won the title of the most expensive main street in the Asia-Pacific region for the first time last year, and successfully "kicked away" Russell Street in Causeway Bay.
However, Canton Road has long ceased to flourish. According to a rough estimate, at least 9 luxury brand stores in the past are vacant. For example, British brand Burberry has rented the three-story giant flagship store in Xingang Center since 2011. The latest rental value is year-on-year. fell by about 1 percent.
The chain cosmetics store Sa Sa has also abandoned the lease of the ground floor shop on Canton Road. The shop had been rented by Sa Sa for four and a half years, but it has now been emptied. The Canadian high-end fashion brand PORTS 1961 also quit the lease of the duplex flagship store on Canton Road two years earlier. The rental value of the above two shops has dropped by 20% year-on-year.
In addition, the ground floor of the 1881 Heritage flagship store of the original famous brand Tiffany & Co has not been leased since its closure in 2020.
In addition to Canton Road, Granville Road is also full of auspicious shops, among which all the ground floors of Deli Building were completely empty.
+3
In the past, there were many famous shops in Queen's Road Central in Central. After a year of separation, some famous brands finally leased them again, including the flagship store of the former American fashion brand "GAP" located in the Luhaitong Building in Central, which was lost last year. It is now owned by the same American brand. The “American Eagle” of the company settled in; and the ground floor of the Zhongxingwei Building on Queen’s Road in Central, after the withdrawal of the sports brand “Adidas”, was rented by Hang Seng Bank on top of the two floors, and the rental value dropped by about 27% year-on-year.
Last year, the mask shops that seized the streets of the bustling city almost disappeared in Central. Among them, the mask factories "Mask Lab" and "Mask Factory" on the ground floor of the Chinese store, the former sealed the hoarding of the jewelry store clothing Daifuku, and it was rare to see the epidemic from the neighboring store. As the city expanded, its rental value fell sharply by 26%. The latter is the electronics brand "Samsung" store in Central.
+9
The downtown area in Central seems to have regained its old days, but it is only at this crossroads. The former "city that never sleeps" Lan Kwai Fong has been in decline after being ordered to suspend business. The streets formerly occupied by high-end western restaurants have been replaced by civilian snack shops Eighteen paparazzi fans".
The adjacent Wellington Street has also changed beyond recognition. Hong Kong people recalled that the former Tsui Wah flagship store on the 4th floor was split into at least two stores, one of which was taken over by the flagship store of "Tanzai Sange Rice Noodles" on the third floor, and the other by the French-style store. The cafe "Town 93 Cafe" took over, but only one floor was rented, and the attic and other floors were still empty. The "Zhenglan Pho" opened by Cai Lan, a well-known food critic next to it, was also closed due to the epidemic.
Going up the road, the ground floor shop No. 60 has been vacant for more than a year. It is currently rented as a short-term outlet, and is touted as a rapid test kit.
Revaluation of rates and rentals｜In the core district of the downtown area, Jipu is now in a trend, and the old famous shops and giant shops have no rent. Revaluation of rates and rentals |
+3
The former fashion store "Topshop" located on the ground floor and first floor of Oceanwide Building in Queen's Road Central is still empty after the brand's withdrawal for nearly a year and a half. The former flagship store of Esprit on the two floors of Eternal Commercial Building on the same street was originally owned by a retail brand. The agent Inspire Hub was rented, and it also withdrew last month, and was again empty.
On Des Voeux Road, where cars come and go in the past, you will also find that some fashion stores such as "bossini" and "Giordano" have been turned into sales venues. Along the road to Sheung Wan, there are already 6 auspicious shops, except for the former Tsui Wah located in Central Des. In addition to the ground floor shop on the ground floor of No. 84-86 Central Service Road, there are three bank branches abandoned, including the former branches of Bank of China, China Construction Bank and Citibank.
+11
Wan Chai, which is also a bustling city on Hong Kong Island, is equally serious. In addition to the severe disaster in the area of Lockhart Road, known as the "Bar Street", Hennessy Road also has ten rooms and nine empty spaces. From Fenyu Street to Gooseneck Bridge alone, there are at least 24 people. Jianji Shop, some shops are also short-term rented as supermarkets or selling vegetables, including the three ground-floor shops at No. 338 Beihai Center. Many restaurants in this area are struggling to meet the epidemic situation, and they have changed their tactics to "two meals" to attract customers. .
