Tiny Nan Fung Centre shop sale sets record
A tiny clothing shop the Nan Fung Centre has sold for the exorbitant price of HK$225,000 per square foot, making it this month’s priciest shop transaction.
The deal, which resulted in a 240 per cent return for the vendor, has set a record for the district’s highest ever value per square foot. It has been purchased by a local telecommunications firm, which plans to merge the space with its own adjoining shop when the current lease expires in 2019.
The store space was a mere 213sqft.
The phone retailer said the purchase will spare it from “the pressure of fluctuating shop rents” in future.
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