LKF Tower Central is converting a hotel into office. Rented to co-working space WeWork. Will the bar scene in Wyndham Street be changing into less bars and more restaurants?
LKF Tower in Central is now converting all hotel rooms into office floors, which will be occupied by co-working space WeWork by mid next year. Will the bar scene in Wyndham Street be changing into less bars and more restaurants?
Wyndham Street and Lan Kwai Fong are the top bar locations in Central of Hong Kong. Bar lovers, tourists and expatriates like to hang around there, where is also the favourite spot for Central office crowds to chill out.
Lacrucci witnessed the opening of more bars on Wyndham Street in the recent 10 years, which is also seen as an extension of Lan Kwai Fong bar area. Wyndham Street was once one of the highest F&B shop rentals in Central which could reach at around HK$200 p.s.f. Yet there are many shops rental in Wyndham Street nowadays.
LKF Tower – upstairs F&B space and hotel in Central
LKF Tower is located in the heart of Wyndham Street in Hong Kong, with the hotel entrance facing Wyndham Street and lift to F&B floors facing Lan Kwai Fong.
All F&B floors of LKF Tower are located on lower floors, providing cheaper upstairs restaurant and bar space in Central.
To name a few of restaurants and bars in LKF Tower: Hard Rock Cafe, Bread Street by Gordon Ramsay, Tazmania Ballroom by owner of Dragon-i and Lily & Bloom.
Upper levels of LKF Tower are hotel rooms and the rooftop bar Azure. With changing demand of tourists in Hong Kong, the owner of LKF Tower is converting all upper floors into office. 14 floors totalled at 85,000 s.f. are rented to co-working space operator WeWork at average rent of HK$60 p.s.f.
Demand for more restaurants on Wyndham Street
As far as Lacrucci knows, bars and restaurants on Wyndham Street focus more on dinner and night business. Selling alcohol is major source of income instead of food. Some of them do not even open for lunch in weekdays.
With more young start-up entrepreneurs coming to co-working space in LKF Tower, and also the challenge by 7-Eleven selling cheap bottles of beers there, F&B operators might plan ahead to focus more on food and cater the need of growing local office crowds.
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