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Upstairs Restaurants Bars for lease in Central

Food and beverages operators gobbling up upstairs restaurants bars in Central

It’s getting more and more common for slim-fit black-shirt ladies and black-suit black-tie executives gaze upwards to skyscrapers in Central for food and beverage (F&B) during their lunch, dinner or tea time.

They opt to eat in less formal eating place, which however, have different personalities. Some of them are bright and airy with large windows that show off the busy business street view.

Upstairs bars/restaurants should still be a trend in Hong Kong. F&B operators owned by celebrity chefs like Jamie Oliver (Jamie’s Italian) and Gordon Ramsay (Bread Street Kitchen & Bar) have started their first restaurants in Hong Kong upstairs instead of street front shops.

Upstairs-F&B-restaurants-bars-on-Queen's-Road - Lacruland facebook

Upstairs-F&B-restaurants-bars-on-Queen’s-Road – Lacruland facebook

 

Why bars/restaurants go upstairs

Hong Kong has many hidden upstairs restaurants and bars, hoping to keep their business profitable by reducing high rent payment and cut-throat competition.

Currently, the rent of upstairs F&B spaces ranges from HK$50 to HK$80 per square foot on average, which is around 50% to 60% of rent for F&B shops on ground level.

Ten years ago, Cantonese slang: lau seung (upper-floor) shops – including cafes, restaurants and bars are getting popular, about the same time Starbucks and Pacific Coffee Companies moving into Hong Kong, scrambling for food and beverage market shares in Central and Wanchai financial area.

More and more office landlords  set their eyes on converting their premises into restaurant leasing spaces in return for higher rent and long-term value of their properties.

Upstairs restaurants bars with outdoor seating area

To name few upstairs restaurants bars with alfresco terrace in Central – Duddell’s, Lupa, Sevva, Amani/Prive, Shore, Honi Honi, The Black Bird. Two more upstairs restaurants with outdoor seating area are opening soon which are located on 18 On Lan Street.

Tips to rent an upstairs restaurants bars in Central

  • Assessment of licensing feasibility and extra investment on technical provision are highly recommended before confirming a lease of upstairs F&B space
  • Need to devote more cost and time to marketing as part of operating expenses
  • If the outdoor area is large enough to accommodate a number of seat covers, F&B customers are willing to pay extra for this.

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