AEON Renews 184,000 sq ft Whampoa Store for 9 Years at HK$7.5-9.2 Million Monthly
HK01 · 2 SOURCESabout 2 hours ago1 MIN
Summary
Aeon Stores (Hong Kong) has signed a conditional new nine-year lease to continue operating its AEON STYLE Whampoa outlet, defying earlier rumors of closure. The retail giant will rent approximately 184,169 square feet of space in the Whampoa Garden commercial podium starting from May 2026 through April 2035, with monthly base rent escalating from HK$7.5 million to HK$9.2 million over the lease term.
Key Points
- The new lease covers ground floor and basement Level 1 of the Whampoa Garden Phase 5 and 6 commercial podium, spanning about 184,169 square feet
- The lease term runs from May 1, 2026 to April 30, 2035, a total duration of nine years
- Monthly base rent starts at HK$7.5 million for years one to three, rising to HK$8.3-9.2 million for years four to six, and HK$8.8 million minimum for years seven to nine
- Aeon must also pay turnover rent at a progressive rate of 6.5% to 7.5% on annual sales exceeding HK$730 million
- The store enjoys a prime location above Whampoa MTR station, surrounded by dense residential areas
Why It Matters
The renewal underscores Aeon Holdings' long-term commitment to the Hong Kong retail market despite economic headwinds and previous speculation about downsizing. The 184,000-square-foot space represents one of the largest retail footprints in the Whampoa district, and the nine-year commitment signals confidence in the catchment area's spending power .
The renewal underscores Aeon Holdings' long-term commitment to the Hong Kong retail market despite economic headwinds and previous speculation about downsizing. The 184,000-square-foot space represents one of the largest retail footprints in the Whampoa district, and the nine-year commitment signals confidence in the catchment area's spending power .