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HSBC is ready to occupy greater than 40,000 sq ft of area in Capitol Centre in Causeway Bay, as Hong Kong’s largest financial institution joins a rising checklist of finance and banking corporations snapping up business area within the metropolis.
The London-headquartered lender signed a five-year lease, which begins Might 18, 2026, for 5 ranges – floor plus 4 flooring of the constructing, in line with Land Registry data. The deal was registered in late November.
The data didn’t present the dimensions or lease for the leased area, however brokers stated the 5 flooring would have a complete space of 42,000 sq ft.
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HSBC has the choice to resume the lease for an additional 5 years, beneath the phrases of the deal.
Capitol Centre is positioned on one of many busiest streets within the Causeway Bay procuring district. Picture: Google Maps alt=Capitol Centre is positioned on one of many busiest streets within the Causeway Bay procuring district. Picture: Google Maps>
HSBC declined to touch upon the deliberate use of the area.
Present tenant Chanel’s three-year lease expires on Might 15 subsequent yr, in line with the Land Registry. The French trend home had leased a portion of the bottom and first flooring, together with part of the constructing’s facade.
The corporate had the choice to increase the three-year lease twice as soon as the unique contract expired.
HSBC would be the first non-fashion, long-term tenant of the prime retail area in one of many busiest lanes within the procuring district since 2008, when Giordano leased the basement and 5 ranges for HK$5.06 million (US$650,000) a month.
In 2010, US-based attire retailer Endlessly 21 took up the identical area, which was then reported to measure 51,000 sq ft, for its flagship Hong Kong retailer.
In 2018, Victoria’s Secret changed Endlessly 21. The US lingerie retailer paid an estimated HK$7 million a month for floor plus 4 flooring, in line with the Publish.
Two years later, Victoria’s Secret closed the outlet following the dual blows of unprecedented social unrest and the Covid-19 pandemic.
In 2022, Dairy Farm leased the basement at Capitol Centre. Dairy Farm, now generally known as DFI Retail Group, is the operator of Wellcome and Market grocery store chains.
Banking and finance corporations have been increasing in Hong Kong in latest months, led by the likes of Jane Avenue. The US quant buying and selling agency has agreed to pay HK$30.6 million a month for 223,437 sq ft of workplace area in Henderson Land‘s Central Yards. The nine-storey constructing is a part of the developer’s prized mixed-use New Central Harbourfront, with the primary part as a consequence of open in 2027.
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