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 two cinemas, Harbour City is home to Hong Kong's largest shopping, dining and entertainment centre.

Retail

Harbour City, the largest and most comprehensive retail offer under one roof in Hong Kong, is among the world's leading shopping destinations with two million square feet of contiguous mall space. With this critical mass, it is the core and creator of the "Greater Harbour City" cluster covering approximately six million square feet of high-traffic shopping, entertainment, dining and lifestyle in this most productive and dynamic retail district in Tsim Sha Tsui. As a dominant player, it strengthens the prominence and appeal of the district.

Harbour City's 530-metre contiguous retail frontage along Canton Road has become a finite resource for top brands, giving rise to a luxury line-up including Louis Vuitton, Chanel and Gucci. It is the most coveted location for international luxury brands and attracts the best-of-class retailers in search of advantageous position and shop front design. A series of new additions and expansions on Canton Road is set to bring further surprises and excitement to the premium shoppers. With its renowned Canton Road street frontage, a global retail showcase, presence at Harbour City is a must-have for celebrated international retailers, in particular for those who want to do business in the Mainland.

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.

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.

Ocean Terminal's ("OT") renovation, a vital element of Harbour City's substantial value-accretive initiative, opens up plenty of new opportunities for trade mix refinement and premises enhancement.

The extension building plan for OT, designed by internationally renowned architecture firm Foster & Partners, is pending approval. The extension building will offer new culinary options with fabulous panoramic views of the Hong Kong skyline and the Peak.

The rejuvenation and conversion works, including the renovation and extension of OT, is poised to add further growth impetus.

Retail Tenant Mix (by Rental and Area)

  % by Rental % by Area % by Sales
Fashion 34.0 27.6 24.1
Leather Goods - Shoes Bags & Related Trades 24.7 16.6 26.7
Department Stores, Confectionery Products 11.5 19.6 12.8
Jewellery, Beauty and Accessories 17.9 8.0 21.4
Restaurant, Fast Food, F&B, and Entertainment 3.6 14.8 3.2
Children's Wear, Toy & Related Trades 2.8 6.2 2.2
Electrical & Audio-visual Equipment 2.5 1.9 7.6
Sports Wear 1.8 2.2 1.3
Others 1.2 3.1 0.7
  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, superb management, comprehensive ancillary features including the mega mall, three Marco Polo hotels, serviced apartments, a fitness centre and a private recreational 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 underway is designed to completely refresh the apartments and to offer an unparalleled experience that caters to customers' sophisticated and unique demands.


Portfolio Information
(Extracted from The Wharf (Holdings) Limited Annual Report 2013)

  Gross Floor
Area
(sq ft)

Revenue
(HK$ Million)
Average
Occupancy
(%)
Year-end
Valuation
(HK$ Million)
Retail 2,049,000 4,909 98 80,185
Office 4,263,000 1,885 96 49,115
Serviced Apartments 670,000 305 78 8,470
Hotel and Club 1,368,000 1,372 85 8,340



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