Business Overview | Harbour City

Harbour City, the Group's flagship property situated in the commercial hub of Tsim Sha Tsui, boasts 8.4 million square feet of prime commercial space comprising offices, retail shops, serviced apartments, hotels and club, and approximately 2,000 car parking spaces. With its 700 shops including 50 restaurants and 2 cinemas, Harbour City is home to Hong Kong's largest shopping, dining and entertainment centre.

Retail

Harbour City is an international retail landmark and one of the most coveted destinations for the world's best brands. Its market-leading position is strengthened by its critical mass (2 million square feet of contiguous space), comprehensive retail offer and global showcase in the region for celebrated international retailers. At the core of the 6- million-square-foot "Greater Harbour City" cluster in Tsim Sha Tsui covering high-traffic shopping, entertainment, dining and lifestyle, it enlivens the vibrant retail district.

The coveted Harbour City and its 530-metre contiguous retail frontage along Canton Road is well positioned as a global retail showcase for celebrated brands and has become the most sought-after location for the best-of-class retailers. Demand from renowned fashion brands for expansion remains solid.

Harbour City offers a comprehensive mix of stores across a finely-calibrated price point matrix of luxury, middle market and high street brands. Retail clusters such as KidX (the best of class selection for kids), Cosmetics (over 200 brands), SportX, Audio-visual Centre and Shoes (more than 100 brands) provide distinct and unique shopping experience for its patrons.

Powerful marketing also underpins the success of Harbour City. An array of sales-driven events has been conducted to draw crowds and media frenzy.

Harbour City is among the first malls in Hong Kong to incorporate art elements into mall events, making art appreciation part of people's daily lives. In addition to a number of art events held at the mall throughout the year, Harbour City has also devoted a 1,000-square-foot prime retail space on Level Two of Ocean Centre for the establishment of the unique "Gallery by the Harbour". Boasting a 20-foot high ceiling and full-height glass wall, this admission-free art gallery offers visitors a unique experience of appreciating art pieces from around the world against the backdrop of the stunning Victoria Harbour.

Good progress was made with Ocean Terminal's enhancement works, which generates future value creation. New retail and F&B attractions on the third floor were created. Construction of the extension building, designed by Foster & Partners, is underway, with opening targeted for the second half of 2017. New culinary options with a stunning view over the harbour and city skyline will be offered at the building to generate extra patronage.

Retail Tenant Mix (by Rental, Area and Sales)

(Extracted from The Wharf (Holdings) Limited Annual Report 2014)

  % by Rental % by Area % by Sales
Fashion 34.4 30.0 25.0
Leather Goods - Shoes Bags & Related Trades 23.7 12.1 26.4
Department Stores, Confectionery Products 11.3 19.7 12.1
Jewellery, Beauty and Accessories 18.7 7.7 21.7
Restaurant, Fast Food, F&B, and Entertainment 3.3 14.7 3.1
Children's Wear, Toy & Related Trades 2.8 5.2 2.3
Electrical & Audio-visual Equipment 2.2 2.0 7.0
Sports Wear 1.9 2.2 1.5
Others 1.7 6.4 0.9
  100.0 100.0 100.0

Office

Boasting 4.3 million square feet in total, Harbour City offers the largest Grade A office portfolio in Kowloon with 10 commercial buildings including Gateway Tower 1, 2 and 6, Prudential Tower, Sun Life Tower, Ocean Centre, World Finance Centre (South and North), Wharf T&T Centre and World Commerce Centre. Harbour City remains a preferred office location for multinationals, Mainland and local enterprises, powered by its convenient location and transportation, premium quality management, comprehensive ancillary features including the mega mall, three Marco Polo hotels, serviced apartments, a fitness centre and a private Pacific Club. This has provided Harbour City with an unparalleled competitive edge compared to "pure offices".

Serviced Apartments

Situated on top of the Harbour City Gateway Towers, Gateway Apartments offers 499 tastefully furnished apartments from studio units to deluxe three-bedroom and penthouse suites. It is undoubtedly an ideal home for the discerning residents who look for the highest level of elegance and convenience. The substantial renovation is underway and upon its completion, the refreshed apartments will be better-positioned to cater to customers’ unique and sophisticated demands and enable the most discerning customers to enjoy an unmatched, tranquil and more blissful lifestyle.


Portfolio Information

(Extracted from The Wharf (Holdings) Limited Annual Report 2014)

  Gross Floor
Area
(sq ft)

Revenue
(HK$ Million)
Average
Occupancy
(%)
Year-end
Valuation
(HK$ Million)
Retail 2,049,000 5,674 98 94,602
Office 4,263,000 2,121 96 55,108
Serviced Apartments 670,000 301 74 9,990
Hotel and Club 1,368,000 1,454 89 8,420



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