The collapse of retail rents and high vacancy rates in some of Hong Kong’s main shopping districts is forcing some landlords to get creative. Rather than leave their buildings standing idle, some are launching brand new, totally unrelated business ventures to fill the vacant space.Two joint owners of a five-storey retail complex at 53 Carnarvon Road, Tsim Sha Tsui, for example, plan to open their first cosmetics store on the premises on September 17.Formerly occupied by a jewellery shop, the…
from South China Morning Post https://www.scmp.com/business/article/3100505/can-hong-kongs-retail-landlords-weather-soaring-vacancy-rates-running
Tuesday, September 8, 2020
Can Hong Kong’s retail landlords weather soaring vacancy rates by running their own shops in their own buildings?
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