Central Office Rentals
MAR 2024 | LAST UPDATED
SNAPSHOT
Central is the traditional business district for the professional services and finance industry in the city. Given its proximity to the Airport Express and business connections, this district commands the highest rents.
Hong Kong’s Grade A office market totals approximately 94 million sq ft. Central accounts for around a quarter of this supply.
GLOBAL BENCHMARK
The Hong Kong Central submarket continues to be the world’s most expensive market, around 60% costlier than the next two markets (New York - Midtown and London - West End). Strong demand from Mainland Chinese firms, alongside ongoing supply shortages, is maintaining premium values.
Indeed, with the overall impact of COVID-19, office rentals are continuing on a downtrend, and for occupiers who are within a suitable transaction window, can yield real dividends.
KEY INDUSTRIES
Alternative Investments
Asset Management
Management Consulting
Investment Banking
Legal
Private Banking
Private Equity
Sales & Trading
CENTRAL GRADE A OFFICE VACANCY %
Central posted a 15 year high vacancy of 7.7% or 1.2million sq ft (as of May 2021). Overall Grade A office vacancy in Hong Kong represents circa. 9% (as of May 2021).
CENTRAL OFFICE RENTAL | HONG KONG
The Central district has the largest rental spread in the Hong Kong market ranging from the highly specified Grade AAA offices to more modest Grade A buildings in the core and fringe areas with standard technical specifications.
GRADE AAA - HK$125-135 PSF
AIA Central →
Chater House →
Cheung Kong Center →
IFC →
York House →
GRADE AA - HK$105-138 PSF
ABC Tower →
Bank of China Tower →
Three Garden Road →
Exchange Square →
GRADE A - HK$40-120 PSF
100 QRC →
1 Duddell Street →
33 Des Voeux Road Central →
35 QRC (2020) →
8 Wyndham Street →
8 QRC →
9 QRC →
Alexander House →
Central Tower →
China Building →
Chinachem Central →
Club Lusitano →
Dina House →
Edinburgh Tower →
Entertainment Building →
Gloucester Tower →
Henley Building →
H Queen’s →
Jardine House →
LHT Tower →
Man Yee Building →
Nexxus Building →
Prosperity Tower →
Printing House →
Ruttonjee House →
Standard Chartered Bank Building →
Shanghai Commercial Bank Tower →
St. George’s Building →
The Center →
The Hong Kong Club Building →
FRINGE CBD OFFICES
FRINGE CENTRAL - HK$40-65 PSF
Central 88 →
CITIC Tower →
Kinwick Centre →
The Centrium →
The Wellington →
Queen’s Road Centre (2019) →
SHEUNG WAN - HK$40-55 PSF
181 QRC →
COSCO Tower →
FWD Financial Centre →
Li Po Chun Chambers →
Infinitus Plaza →
ADMIRALTY - HK$40-115 PSF
Admiralty Centre →
Bank of America Tower →
Fairmont House →
Pacific Place →
Lippo Centre →
United Centre →
KOWLOON WEST - HK$70-85 PSF
RECEIVE CENTRAL OFFICE LISTING
