Central Crossing starts leasing, project expected to be completed in mid-2026

Jones Lang Lasalle announced that it has been jointly appointed by WING TAI PPT and Capital Strategy Real Estate Limited as the chief leasing agent for the new landmark commercial project "Central Crossing" in Central. "Central Crossing" is located in the most bustling core area of Central, integrating Grade A office buildings, international luxury hotels, and high-end retail, making it the first new mixed-use commercial development project with luxury hotel facilities in the area in nearly 20 years. The project is expected to be completed in mid-2026 and has officially started leasing.

Jones Lang Lasalle stated that "Central Crossing" is located at 118 Wellington Street, Central, with a total floor area of approximately 433,000 square feet. The entire project consists of two buildings, including a 28-story Grade A office building and retail space, with a standard floor area of 10,600 square feet; the other building will be an international luxury hotel equipped with diverse living and leisure facilities. The project also integrates retail dining, unique leisure, green public spaces, and elements of historical building conservation, bringing a new choice to Hong Kong's office market.

According to reports, another major feature of "Central Crossing" is its unique historical and cultural value. The project is centrally located among three major historical and cultural landmarks: Tai Kwun, PMQ, and Central Market, making it the first and only Grade A office project built on a historical site by the Urban Renewal Authority of Hong Kong.

Edward Noble, Senior Director of the Commercial Department at Jones Lang Lasalle Hong Kong, stated that the "Central Crossing" office building is not only the first new Grade A commercial building with hotel facilities in the area in nearly 20 years after the International Finance Centre, but also the only new Grade A office building in Hong Kong with such facilities expected in the next five years. Moreover, the floor design is flexible, suitable for various types of enterprises.

Edward Noble mentioned that data from the research department shows that the rental prices of Grade A landmark office buildings in Central have shown signs of stabilization since March this year, with only a slight decline of 0.8% since the beginning of the year, while overall Grade A office rents have declined by 3.2% during the same period. It is expected that "Central Crossing" will become a focal point in the market, attracting tenants from financial institutions and related service industries, as well as technology companies.

Zhao Huiqiao, Director of the Retail Department at Jones Lang Lasalle Hong Kong, pointed out that the retail leasing market remained active in the first half of this year, especially in the catering industry, with as many as 72% of new retailers entering Hong Kong engaged in the catering business. These tenants tend to lease shops in core areas and prefer to create distinctive restaurant locations. For example, in Central, as of the end of August, the rental rate for shops suitable for the catering industry exceeded 90%, and any catering shop launched for leasing was quickly taken up