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Inditex Group
The HQ has secured a 12 year lease agreement for nearly 4,300sqm with various brands under the banner of the Inditex
Group from Spain, one of the world’s largest fashion retailers and owner of a number of highly successful fashion brands.
Seven of Inditex’s retail formats will be launched at The HQ led by Zara with a 2,000sqm flagship store and six further
highly sought after brands, namely Massimo Dutti, Bershka, Oysho (first store in China), Pull and Bear, Stradivarius and
Zara Home (first store in Shanghai).
Ole’ Supermarket
Ole’, a high-end supermarket chain under the umbrella of China Resources Vanguard, has also been secured as an
anchor tenant at The HQ for more than 5,500sqm of space, representing its largest store in Shanghai. The Ole’ brand
supermarket operation replaces the existing Parkson grocery facility of 2,500sqm clearly under-servicing the need for high
quality and fresh food products in the Hong Qiao region. Since its launch in 2004 the Ole’ brand has achieved a strong
brand acceptance amongst the Chinese consumer and at more than 5,500sqm The HQ outlet reflects Ole’s confidence
in the spending power of the Shanghai consumer with its refreshing format including Conceptual Kitchen, Organic Health
Food Centre as well as a Wine Cellar also recognizing the increasing sophistication of the local market.
Hongqiao Century Cinema
Hongqiao Century Cinema, the existing cinema operator of 8 years, emerged from a highly competitive tender process,
recognizing the vast improvement in leisure and enter tainment based retai l ing in Shanghai as disposable income
continues to grow (13.8% for 2011
1
), as the cinema operator for The HQ. Reflecting an increase in current rent of 175%,
Hongqiao Century Cinema will also surrender its existing lease prior to its expiry in 2013 to undertake a substantial re-fit
of the premises at an estimated budget in excess of RMB6 million. Upon re-opening in 2013 the 2,530sqm Cineplex will
boast a contemporary interior as well as state-of-the-art DTS and SRD digital stereo projection equipment.
1 Source: Shanghai Statistics Bureau
Commercial Real Estate Portfolio
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3/23/2012
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