Wing Kwong Property Rents Out Ginza-Style Commercial Floors in Causeway Bay at $40/sq ft
AM730 · 1 SOURCESabout 2 hours ago3 MIN
Summary
Wing Kwong Property Development Ltd has launched a public leasing campaign for selected floors in its two Ginza-style commercial buildings in Causeway Bay—Wing Kwong Centre on Temple Street and Wing Kwong Commercial Building on Hennessy Road—appointing Midland Realty as the exclusive leasing agent . The timing aligns with robust tourism recovery, as the Hong Kong Tourism Board reported approximately 26.17 million visitor arrivals in the first half of 2024, representing a 13 percent year-on-year increase that has injected consumption momentum into the local retail and dining sectors . The company is targeting restaurant, retail, and premium service tenants seeking prime locations in one of Hong Kong's most frequented commercial districts.
Key Points
- Wing Kwong Commercial Building at 499 Hennessy Road offers floors of approximately 1,300 square feet each, with the newly renovated 20th floor available at a preferential monthly rent of $57,233 (~$44/sq ft), and the 14th floor featuring complete Japanese restaurant fit-out at $62,888/month (~$48/sq ft)
- Wing Kwong Centre at 28 Temple Street features a 2,045-square-foot 15th floor with a fully equipped Japanese yakitori restaurant installation and 160AMP three-phase electrical supply, offered at $81,888/month (~$40/sq ft) during the preferential period
- Additional floors available across both buildings include the 7th, 8th, 13th, 18th, 20th, and 21st floors, with preferential rents starting from $40 per square foot
- Wing Kwong Centre comprises 23 floors with full-floor sizes ranging from 2,045 to 3,940 square feet, equipped with three smart touchless elevators and managed by international property consultancy JLL with 24-hour professional services
- The buildings benefit from proximity to major shopping landmarks including SOGO, Hysan Place, and Times Square, with direct access to Causeway Bay MTR station, bus stops, minibuses, taxis, and trams
Why It Matters
The leasing campaign reflects growing confidence in Causeway Bay's commercial property market, driven by the district's unique position as a convergence point for both international tourists and local consumers . For prospective restaurant and retail tenants, the availability of turnkey spaces with existing high-end fit-outs and robust electrical infrastructure significantly reduces upfront capital expenditure, enabling faster market entry to capture the spending power of Hong Kong's recovering tourism sector .
The leasing campaign reflects growing confidence in Causeway Bay's commercial property market, driven by the district's unique position as a convergence point for both international tourists and local consumers . For prospective restaurant and retail tenants, the availability of turnkey spaces with existing high-end fit-outs and robust electrical infrastructure significantly reduces upfront capital expenditure, enabling faster market entry to capture the spending power of Hong Kong's recovering tourism sector .