Retail market sees strong leasing activity led by premium deals

Key transactions include Emperor Watch's 5-year lease in Shanghai Bank Tower.

Hong Kong’s retail market saw several notable leasing deals in September, indicating sustained demand for premium retail spaces in key areas despite challenging market conditions.

Some major transactions include Emperor Watch and Jewellery securing a flagship location in the Shanghai Commercial Bank Tower with a 7,354-square-foot (sq ft) ground-floor lease, including additional floors and storage.

The five-year lease, beginning in March 2025, was signed at $1.52m monthly.

In Tsimshatsui, Hong Kong Tax-Free Co. Limited sold four shop units (4,000 sq ft in total) in the Comfort Building for $200.0m to LCKL at an estimated initial yield of 3.5%.

Additionally, a 650-square-foot ground-floor unit at Percival House was leased for $308 per sqft, whilst a 1,562-square-foot unit on Pak Sha Road secured a lease at $212 per square foot.