HSBC opens new Causeway Bay flagship on Oct 20 after paying HK$4 million monthly rent
The historic bank is expanding in Hong Kong while closing two existing locations, securing significantly lower rates than previous fashion retailers.
HSBC is opening a new flagship branch at the Capitol Centre in Causeway Bay on October 20. The bank previously occupied spaces that held major fashion retailers including Chanel, Victoria's Secret, and Forever 21. HSBC will close its existing Premier centre at Causeway Bay Plaza 2 on October 17 and the Park Lane branch on Gloucester Road at the same time, citing lease expiration. A spokesman confirmed renovation was underway for the new location. Market sources indicate the bank agreed to pay HK$4 million (US$510,200) per month for the capital. This rate is significantly lower than what prior tenants paid. HSBC established operations in Hong Kong in 1865 and remains active in one of the city's top shopping districts.
