Photo by Cheung Yin on Unsplash

Retail spaces in non-core areas continue to pull investments

The retail podium at Coo Residences in Tuen Mun was sold for $450m.

Retail investment sentiment continued to gravitate towards non-core areas in October.

Proof of this is the sale of the retail podium (17,230 sq ft) at Coo Residence in Tuen Mun for $450m at an estimated yield of 3.7%.

Overall, the leasing moment continued to improve during the month. 

Apart from investment in non-core areas, JLL said "bargain hunt opportunities" at prime street spots also led to better leasing in October.

"For example, Japanese drugstore Matsumoto Kiyoshi committed to a ground floor shop (6,081 sq ft) on Kimberly Road in Tsimshatsui for a reported monthly rent of 400,000; more than a 55% discount from the rentals of the last long-term lease tenant – Sa Sa Cosmetic," JLL reported.
 

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Managing conversations to increase conversions
Enterprises that used chat management platform, imBee, saw a 25% increase in sales. 
Where to invest your millions in real estate
Realtors cited two property types that can offer higher upside potential in return.
Property market ends downcycle 
Real estate expert, Cathie Chung, said that the market will have a reset by 2023.
No spacious homes for Hong Kong’s poor anytime soon 
Home size adjustment will be unlikely in the city after the waiting time for public housing hit a record-high.