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"Heart of the Group"
The Heart of the Group, Harbour City and Times Square in Hong Kong, together represent 47% of the Group's total assets and 58% of total operating profit. They easily outperformed the general economy. In the first half of 2009, total retail sales at Harbour City rose by 7% year-on-year, which was over 11 percentage points better than the 4.5% decline for that of Hong Kong as a whole. Harbour City and Times Square consistently account for about 7% of the total value of all goods sold in the entire Hong Kong.
Harbour City, the Group's flagship property situated in the commercial hub of Tsim Sha Tsui, usually generates some 60% of the Group's gross rental income from its 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 of Hong Kong's largest shopping, dining and entertainment centre.
Vibrant promotions at Harbour City, including Canton Road Christmas Street Party held every Christmas eve and the talk-of-the-town festive mall decorations, are popular events for locals and tourists alike.
Retail Tenant Mix (by Rental and Area)
As at 31 December 2008
| |
% by Rental |
% by Area |
| Fashion |
35.7 |
25.2 |
| Leather Goods - Shoes, Bags & Related Trades |
23.2 |
12.0 |
| Department Stores, Confectionery Products |
12.2 |
21.8 |
| Jewellery, Beauty and Accessories |
11.2 |
6.5 |
| Restaurant, Fast Food, F&B |
5.6 |
15.3 |
| Children's Wear & Related Trades, Toys |
3.3 |
7.2 |
| Sports Wear |
3.2 |
3.0 |
| Electrical & Audio-visual Equipments |
2.5 |
2.2 |
| Others |
3.1 |
6.8 |
| |
100.0 |
100.0 |
|
Portfolio Information
(Extracted from The Wharf (Holdings) Limited Annual Report 2008)
| |
Gross Floor
Area
(sq ft) |
Revenue
(HK$ Million) |
Average
Occupancy
(%) |
Year-end
Valuation
(HK$ Million) |
| Retail |
1,948,000 |
2,166 |
95 |
20,565 |
| Office |
4,435,000 |
1,585 |
95 |
29,933 |
| Serviced Apartments |
670,000 |
275 |
89 |
5,770 |
| Hotel and Club (stated at amortised cost) |
1,364,000 |
1,042 |
86 |
5,040 |
|
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