Archive for Retail Real Estate

Parkson, City Center Gubei are multiplying

Preview The HQ and City Center in Shanghai

Preview The HQ and City Center in Shanghai

New news on the commercial Real Estate front in Shanghai.

The City Center in Hongqiao Gubei, a developement from Macao/HK Property Mogul Stanley Ho has teamed up with TCT,
the treasury china trust to extend it’s successful City Center project in Gubei’s Central Business District.

The new developement which is to be completed  sometime in 2013, will feature more than 100′000 square meters of high end retail space, and a 150′000 square meters of premium office space.

One of the Tenants already confirmed is Marks & Spencer, who already signed up for 4k square meters for their new flagship store.

Richard Barrett, Chairman of the TCT, seems to follow the confidence in Shanghai’s commercial leasing market.

Read more here.

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Ferguson Lane is expanding

The neat developement that is Ferguson Lane on Wukang Road near Tai’an Road in the French Concession has expanded already last year by taking in the Residential Mansion in front of Franck and convert it into a modern Gallery Space.

Now it has continued on it’s way to become a major French Concession Destination by acquiring the  Real Estate Hotel (actual name really was this, since the owner was the Real Estate Bureau of Shanghai) and added 5 Floors of Office Space over 3300 square meters, and a grand first floor flag ship Restaurant, 2nd Floor Cocunut Paradise and top Floor Cocktail Bar.

Ferguson Lane is a Hongkong Shanghai Creative, upper class developement, housing boutique businesses, creative and financial companies as well as some fine Dining Restaurants.
Commercial Space in Ferguson Lane is for lease here.

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New developement sales up 150% in march

Shanghai just keeps going and going, and going, it might be time that energizer lets go of it’s catch phrase and leaves it to our beloved real estate market.

According to reports, in March 2010 sales are up an astonishing 150% for storefronts and malls from february.
And 55% more than they were in march 2009.

There has been an increase in develepements, and the chinese new year holidays have certainly played a role, but this doesn’t keep me to still take a step back and glance at the numbers in awe.
The average price has increased 0.37% for march from february and is also up 48% from March 2009 and locked at 19767 Rmb per square meter average.

The city has seen a huge increase in investment style storefronts for sale in newly developed malls especially in the minhang and songjiang area, they’re often sold with tenants already waiting in line to take up the place and pay rent.

The hubs in the areas nearby major subway stops such as Xinzhuang and the new Songjiang stops have gotten a great boost in recent years thanks to the influx of people from the rural areas taking up jobs in the city and living in the more affordable areas nearby the subway stations.

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7-Eleven to open it’s first Shanghai Store soon

The President Chain Store Company intends to open the first 7-Eleven Store in Shanghai before the end of this year.
The Company (”tong yi zhao shang” in chinese) won the franchise rights to the popular convinience store earlier this year after wooing the brand for 10 years. 

As Shanghai is already accustomed to many 24h-store brands (lawsons, alldays, c-store to name a few) 7-Eleven will have to differentiate itself from it’s competitors.

I believe 7-Eleven will most likely compete in prime locations and try to attract customers by offering a cleaner more organized environment than it’s rivals.
That will be benificial for upscale locations in Shanghai that are in desperate need of better organized and cleaner stores to lift it’s appeal to residents and corporations. (anyone that’s been to an alldays or the likes during lunch time or rush hour understands what i’m talking about)
Office towers and shopping malls targeting the more affluent chinese buyers will most likely be keen on striking deals with the company for that reason.

Unfortunately I don’t think they’ll bring the delicious sandwiches we’re used too from the franchise in HK to the city as stores in Shenzhen and Guangzhou didn’t seem to carry them neither. ;-(

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