Investment market in Hong Kong’s retail space ‘quiet’ in 2022: JLL

There were only a handful of lump sum transactions recorded during the year.

The investment market in Hong Kong’s retail space is “quiet” in 2022, JLL reported.

This comes as only a handful of small lump-sum transactions were registered during the year.

Amongst the notable ones are the sale of a shop on G/F and 1/F-4/F (22,592 sq ft) on 42-52 Woo Sung Street in Jordan for HKD160m by the Tang Shing-Bor family, at an estimated initial yield of 5.3%.

“Without any major stimulus to the market, leasing sentiment remains soft in December and transactions in core areas were mainly short-term leases,” JLL noted.

The renewal of restaurant operator Tao Heung lease for a ground floor shop (10,000 sq ft) at Star Mansion on Minden Row in Tsimshatsui for a reported monthly rent of HKD 550,000 is amongst the notable ones seen in 2022.

The lease also reflected an 8% discount from the rental of the last lease.

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