Shops for Rent on Possession Street, Hong Kong

Why rent a shop on Possession Street, Sheung Wan, Hong Kong?

Renting a shop on Possession Street in Hong Kong offers a unique opportunity to operate in a historically significant and vibrant location. Possession Street is situated in Sheung Wan, a district known for its blend of heritage and contemporary culture, featuring hip restaurants, boutiques, and historic shops that attract both locals and tourists. The street itself is notable as the site where the British navy first landed in Hong Kong in 1841, adding to its cultural appeal. Today, it benefits from its proximity to key commercial areas and transport links like the Hong Kong–Macau Ferry Terminal, making it an ideal choice for businesses seeking exposure in a well-trafficked, dynamic urban environment. The mix of historic charm and modern commerce creates a distinguished retail atmosphere that can enhance brand visibility and customer engagement on Possession Street.

How much does it cost to rent a shop on Possession Street, Sheung Wan, Hong Kong?

The cost to rent a shop on Possession Street in Sheung Wan, Hong Kong varies significantly depending on the specific location, size, and condition of the property. Generally, retail rental prices on Possession Street range from HKD 80 to HKD 200 per square foot per month, with ground floor shops commanding premium rates due to high foot traffic and excellent visibility. Smaller retail spaces of 200-500 square feet typically cost between HKD 25,000 to HKD 60,000 per month, while larger commercial units can exceed HKD 100,000 monthly. Possession Street's strategic location in Sheung Wan, with its proximity to Central business district, MTR stations, and the Mid-Levels escalator, makes it a highly sought-after retail destination that influences rental pricing. Additional costs for renting a shop on Possession Street include management fees, rates, government rent, and potentially key money or security deposits equivalent to 2-3 months rent. Property agents specializing in Sheung Wan commercial real estate recommend budgeting for annual rent increases of 3-5% and considering factors such as lease terms, tenant mix, and building facilities when evaluating rental costs on this prestigious Hong Kong street.

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

Possession Street in Causeway Bay, Hong Kong experiences moderate to high foot traffic throughout the day, making it a bustling commercial area popular with both locals and tourists. Located in one of Hong Kong's premier shopping districts, Possession Street sees consistent pedestrian flow due to its proximity to major shopping centers like Times Square, Sogo department store, and numerous restaurants and retail outlets. The street typically experiences peak foot traffic during lunch hours from 12-2 PM and evening hours from 6-9 PM on weekdays, while weekends see sustained high pedestrian activity from late morning through evening as shoppers and diners explore the area. The foot traffic on Possession Street benefits from its strategic location near Causeway Bay MTR station, which is one of Hong Kong's busiest subway stations, ensuring a steady stream of commuters and visitors throughout the day. During major shopping seasons like Chinese New Year, Christmas, and summer sales periods, Possession Street becomes particularly crowded with increased foot traffic as bargain hunters and tourists flock to the numerous shops, restaurants, and entertainment venues that line this vibrant Causeway Bay thoroughfare.