Source: Jimny Chan (Pexels)

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%.

Read more: Hong Kong retail market momentum depends on full border reopening

“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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