It’s a retail battle for real estate in Hong Kong. Zara has been pushed out of ifc mall because they want to subdivide that space into 3 smaller spaces – so now they are moving to Queen’s Road Central into what is now the flagship Hong Kong store for H&M.
H&M moved in to Crawford House – the old Lane Crawford location – at 70 Queen’s Road Central in March 2007 (Wow, 4 years already?!!) but accordingly to property agent Savills the lease expired and the move is on.
the lease for ZARA’s ifc mall space will expire at the end of this year and the landlord intends to subdivide it into three 3,000 sq ft to 4,000 sq ft units for lease. This news pushed ZARA to lease H&M’s existing space in Crawford House, Central earlier this year.
When Zara will move in is unknown as of this posting as is the location, if any, that H&M will move to in Central – but we’re sure as shopping goes supernova in Hong Kong, so will landlords demands.
Other interesting things to note from that Savills report is that Porsche Design and GEOX are opening stores in the Entertainment Building.