Shops for Rent on Pennington Street, Hong Kong

Why rent a shop on Pennington Street, Causeway Bay, Hong Kong?

Renting a shop on Pennington Street, Hong Kong, is an excellent choice due to its prime location in Causeway Bay, one of the city’s most vibrant shopping and commercial districts. Pennington Street benefits from high foot traffic and proximity to major retail and Grade A office buildings like those on Yee Wo Street, making it ideal for businesses seeking visibility and accessibility. Retail spaces at 1 Pennington Street offer competitive rental rates and a stratified residential-commercial environment suited for varied business types. Additionally, the area is well-served by amenities and public transport, enhancing customer convenience, which makes Pennington Street a strategic spot for retailers looking to maximize market exposure and sales opportunities.

How much does it cost to rent a shop on Pennington Street, Causeway Bay, Hong Kong?

The cost to rent a shop on Pennington Street in Causeway Bay, Hong Kong varies significantly depending on the size, location, and condition of the property, with rental prices typically ranging from HK$80 to HK$300 per square foot per month. Ground floor retail spaces on Pennington Street command premium rates due to the high foot traffic and prime location in one of Hong Kong's busiest shopping districts, with smaller shops of 200-500 square feet costing between HK$50,000 to HK$150,000 per month. Larger retail units exceeding 1,000 square feet can cost upwards of HK$200,000 to HK$500,000 monthly, while upper floor commercial spaces generally rent for 30-50% less than ground level properties. Pennington Street shop rental costs are influenced by proximity to major shopping centers like Times Square and SOGO, accessibility to Causeway Bay MTR station, and the overall retail market conditions in Hong Kong. Prospective tenants should also budget for additional expenses including management fees, rates, government rent, and security deposits equivalent to 3-6 months rent when calculating the total cost of renting commercial space on Pennington Street.

What's the foot traffic like on Pennington Street, Causeway Bay, Hong Kong?

Pennington Street in Causeway Bay, Hong Kong experiences moderate to heavy foot traffic throughout the day, particularly during peak shopping hours and weekends when visitors flock to the nearby Times Square shopping mall and Russell Street commercial district. Located in one of Hong Kong's busiest shopping and business areas, Pennington Street sees consistent pedestrian flow from both local residents and international tourists exploring Causeway Bay's retail offerings. The foot traffic typically increases during lunch hours as office workers from surrounding buildings visit nearby restaurants and cafes, while evenings bring shoppers heading to the major department stores and boutiques in the area. Public transportation accessibility via Causeway Bay MTR station contributes significantly to the pedestrian volume on Pennington Street, making it a well-traveled thoroughfare that connects key commercial zones. Visitors planning to walk along Pennington Street should expect busy sidewalks during Hong Kong's peak retail hours, typically between 11 AM to 9 PM, with the heaviest concentration of foot traffic occurring on weekends and public holidays when Causeway Bay attracts maximum visitor numbers.