Shops for Rent on Oil Street, Hong Kong

Why rent a shop on Oil Street, North Point, Hong Kong?

Renting a shop on Oil Street, Hong Kong, offers a unique opportunity to be part of a vibrant and culturally rich neighborhood that blends historic charm with modern creativity. Oil Street is home to the Oi! Oil Street Art Space, a Grade II historic building that serves as a contemporary art exhibition center, attracting art lovers and visitors looking for innovative cultural experiences. This artistic environment creates an attractive footfall for businesses, especially those in creative industries, retail, and hospitality. Additionally, the area’s proximity to bustling districts and its distinctive blend of heritage and modern development make it an ideal location for shops seeking both visibility and a creative community atmosphere. Renting on Oil Street means positioning your business at the crossroads of history, art, and urban growth in Hong Kong.

How much does it cost to rent a shop on Oil Street, North Point, Hong Kong?

The cost to rent a shop on Oil Street in North Point, Hong Kong varies significantly depending on the size, location, and condition of the property, with monthly rental rates typically ranging from HK$15,000 to HK$80,000 for ground floor retail spaces. Oil Street shop rental prices are generally more affordable compared to premium shopping districts like Central or Causeway Bay, making it an attractive option for small businesses and local retailers. Factors affecting Oil Street commercial rent include proximity to the MTR station, foot traffic levels, shop size measured in square feet, and whether the unit has street-level access or requires customers to go upstairs. Ground floor shops with good visibility on Oil Street North Point typically command higher rents of HK$40 to HK$120 per square foot, while upper floor units may rent for HK$20 to HK$60 per square foot. Prospective tenants should also budget for additional costs including management fees, rates, government rent, security deposits equivalent to 2-3 months rent, and potential key money or premium payments to secure desirable Oil Street retail locations in this popular North Point commercial area.

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

Oil Street in Causeway Bay, Hong Kong experiences moderate to high foot traffic, particularly during weekends and evening hours when locals and tourists explore the vibrant shopping and dining scene in this popular district. The pedestrian flow on Oil Street varies throughout the day, with peak activity typically occurring between 6 PM and 10 PM when nearby restaurants, bars, and entertainment venues attract crowds. As part of the bustling Causeway Bay area, Oil Street benefits from its proximity to major shopping centers like Times Square and Sogo, which contributes to steady daytime foot traffic from shoppers and office workers. The street's foot traffic is also influenced by its connection to the Causeway Bay MTR station, one of Hong Kong's busiest transportation hubs, making it a natural thoroughfare for commuters and visitors. While not as densely packed as the main shopping arteries like Russell Street or Hennessy Road, Oil Street maintains consistent pedestrian activity due to its mix of local businesses, restaurants, and its role as a connector between different parts of the Causeway Bay district.