Property News · September 16, 2020

Vacancy in Hong Kong’s storage facilities, warehouses and logistics real estate may double as retailers end leases, slash stock


Vacancy among Hong Kong’s warehouses, storage facilities and other logistics property is expected to double this year, as retailers hobbled by the city’s worst recession in decades slash their inventory and give up their leases, according to a forecast by JLL.An estimated 102,000 square metres (1.098 million square feet) of marketable space is set to return to the leasing market this year when their leases expire, taking the aggregate vacancy rate to more than 3 per cent by the end of this year…

Source : South China Morning Post
Read more…Vacancy in Hong Kong’s storage facilities, warehouses and logistics real estate may double as retailers end leases, slash stock

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