More shop owners in Hong Kong operate restaurants in their own properties. Will shop owners becoming restaurants operators become a trend in Hong Kong?
More shop owners in Hong Kong are going to operate restaurants in their own properties.
Hopewell’s Managing Director Thomas Wu is renovating a new restaurant called “Junon” in his own shop which was occupied by King Ludwig German Restaurant shop space before.
Quite a number of restaurants in Hong Kong are also operated by the property owners. Will shop owners becoming restaurant operators become a trend in Hong Kong?
F&B Shop Rental Trend in Hong Kong
The Hong Kong F&B market scene is changing when Lacrucci has seen more vacant shops for lease and sale to appear. Shop owners are more eager to rent their shops to F&B operators even though they can afford a lower rent than retail tenants.
Many shops were once occupied by retail tenants who did not renew upon the lease expiry. We have seen a number of vacant shops on streets, especially in those busy shopping districts such as Mong Kok and Causeway Bay.
Shop owners are now more willing to lower their rents to attract F&B tenants, who are still active in Hong Kong rental market.
More shop owners become restaurant operators in HK?
Lacrucci has witnessed the change of F&B scene in recent years in Hong Kong. More shop owners are now operating their restaurants in their own properties.
Just to say a few:
- New World Group is operating Cobo House in their property development on South Lane in Sai Ying Pun;
- ZS Hospitality Group is operating all restaurant spaces in their shops in Lyndhurst 8 (Lee Lo Mei and Mexus) as well as Nexus Building (Ying Jee Club and Moi Moi) in Central;
- Lai Sun Group is operating several Japanese Restaurants in their shop spaces in Oakhill on Wood Road in Wan Chai
Lacrucci trusts that more shop owners are interested in operating own restaurants in their properties in the near future, especially when the shop rental is dropping and its yield is getting lower.
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