Hong Kong pharmacy joins Russell Street retail scene to capitalise on rent slump

Quick Summary:

Annual rent in Causeway Bay shopping district has declined 46 per cent on average between 2018 and 2024, according to Cushman & Wakefield.

Tenants along Russell Street, a 250-metre-long thoroughfare, paid as much as US$2,671 per square foot on average in annual rent at the peak of the market in 2018, topping global shopping strips including the Champs Elysees boulevard in Paris, Omotesando in Tokyo and Fifth Avenue in Manhattan, according to Cushman & Wakefield.

No other tenancy terms were immediately available.

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Article Details

Author / Journalist: Cheryl Arcibal

Category: Business

Markets: Hong Kong

Topics: Street Pharmacy Space Local Causeway Tenant Retail Perla Shopping Russell Strips

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-18 @ 09:30:14 (5 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 253 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 28162388

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