{"id":110012,"date":"2019-08-19T07:30:09","date_gmt":"2019-08-19T00:30:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/causeway-bay-retail-landlord-offers-to-cut-rent-by-44-per-cent-as-prada-closes-flagship-store-next-year-amid-dwindling-foot-traffic\/"},"modified":"2019-08-19T08:06:28","modified_gmt":"2019-08-19T01:06:28","slug":"causeway-bay-retail-landlord-offers-to-cut-rent-by-44-per-cent-as-prada-closes-flagship-store-next-year-amid-dwindling-foot-traffic","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/causeway-bay-retail-landlord-offers-to-cut-rent-by-44-per-cent-as-prada-closes-flagship-store-next-year-amid-dwindling-foot-traffic\/","title":{"rendered":"Causeway Bay retail landlord offers to cut rent by 44 per cent as Prada closes flagship store next year amid dwindling foot traffic"},"content":{"rendered":"


\nThe landlord of Prada\u2019s retail store in Causeway Bay is offering to slash monthly rent by 44 per cent next year when the Italian fashion house shuts its flagship outlet on Hong Kong Island, succumbing to dwindling shoppers\u2019 foot traffic.The Milanese company will close its 15,000-square foot (1,393 square metre) store at Plaza 2000 along Russell Street, for which Prada pays HK$9 million (US$1.15 million) in monthly rent, when its seven-year lease expires in June 2020, according to its landlord\u2026
\n
\nSource : South China Morning Post
\nRead more…Causeway Bay retail landlord offers to cut rent by 44 per cent as Prada closes flagship store next year amid dwindling foot traffic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The landlord of Prada\u2019s retail store in Causeway Bay is offering to slash monthly rent...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-110012","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sCo","jetpack-related-posts":[{"id":110649,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/with-prada-out-can-hong-kongs-russell-street-outshine-fifth-avenue-or-champs-elysees-as-the-worlds-costliest-retail-strip\/","url_meta":{"origin":110012,"position":0},"title":"With Prada out, can Hong Kong\u2019s Russell Street outshine Fifth Avenue or Champs-\u00c9lys\u00e9es as the world\u2019s costliest retail strip?","date":"September 11, 2019","format":false,"excerpt":"\r Landlords in Hong Kong\u2019s Russell Street, the most expensive shopping address on the planet, are likely to slash rents after fashion house Prada declared it would not renew the lease on its flagship store next year, according to market observers.Prada\u2019s landlord has offered to cut the rent for its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123683,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/offices-may-decamp-to-hong-kongs-causeway-bay-amid-rental-crash-in-the-worlds-costliest-retail-strip\/","url_meta":{"origin":110012,"position":1},"title":"Offices may decamp to Hong Kong\u2019s Causeway Bay amid rental crash in the world\u2019s costliest retail strip","date":"December 8, 2021","format":false,"excerpt":"\r Causeway Bay looks increasingly more appealing as an office address, amid the rental crash in what was until recently the world\u2019s most expensive retail shopping district.The monthly net office rent in the district between Hong Kong\u2019s Wan Chai and Quarry Bay averaged HK$60.4 (US$7.74) per square foot, just about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":146574,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-retail-prada-to-open-8000-sq-ft-store-in-k11-musea-after-years-of-downsizing\/","url_meta":{"origin":110012,"position":2},"title":"Hong Kong retail: Prada to open 8,000 sq ft store in K11 Musea after years of downsizing","date":"July 29, 2024","format":false,"excerpt":"\r The two-storey outlet in New World\u2019s harbourfront luxury mall will be the Italian brand\u2019s first in Hong Kong since it closed its flagship store in Causeway Bay in 2020.\r \r Source : South China Morning Post\r Read more...Hong Kong retail: Prada to open 8,000 sq ft store in K11\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123394,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/burberry-joins-prada-la-perla-in-exiting-hong-kongs-russell-street-once-the-worlds-most-expensive-retail-rental-strip\/","url_meta":{"origin":110012,"position":3},"title":"Burberry joins Prada, La Perla in exiting Hong Kong\u2019s Russell Street, once the world\u2019s most expensive retail rental strip","date":"November 23, 2021","format":false,"excerpt":"\r British luxury fashion house Burberry will shut its flagship store on Hong Kong\u2019s Russell Street, once the world\u2019s most expensive shopping strip, after a 10-year lease expires early next year, according to sources.The iconic brand, known for its trademark check pattern, has maintained a presence in the Causeway Bay\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121765,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/djis-causeway-bay-store-likely-to-be-split-into-smaller-units-as-landlord-may-struggle-to-find-tenants-for-massive-space\/","url_meta":{"origin":110012,"position":4},"title":"DJI\u2019s Causeway Bay store likely to be split into smaller units as landlord may struggle to find tenants for massive space","date":"September 1, 2021","format":false,"excerpt":"\r The landlord of a massive space vacated by DJI in Hong Kong\u2019s popular shopping district of Causeway Bay is unlikely to find a single tenant amid the shift in the city\u2019s retail landscape, but dividing it into smaller units can improve its chances several fold, said market observers.DJI, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shops-in-causeway-bay-see-sales-hit-by-hong-kong-protests-says-landlord-hang-lung-as-retail-rents-seen-tanking\/","url_meta":{"origin":110012,"position":5},"title":"Shops in Causeway Bay see sales hit by Hong Kong protests, says landlord Hang Lung, as retail rents seen tanking","date":"July 30, 2019","format":false,"excerpt":"\r Hong Kong\u2019s retail sector has been hit by weeks of protests that have frequently descended into violence, according to Hang Lung Properties, a major landlord in one of the city\u2019s best known shopping areas.The company\u2019s chief executive Weber Lo said the mass rallies had damaged sales of its tenants\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110012"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=110012"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110012\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=110012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=110012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=110012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}