
Here's what you must know about the redevelopment of Sunning Plaza
It may replicate the ''Swire effect''.
According to Savills, the breaking news in Wanchai/ Causeway Bay is the redevelopment of Sunning Plaza (with Sunning Court).
Savills said that the market expects this to replicate the impact of the ‘Swire effect’ in Island East. The potential redevelopment of Sunning Plaza in Causeway Bay will lead many tenants to compete for offi ce space in the area, pushing rents up on the back of this potential decrease in available stock.
"Rents in Wanchai/Causeway were relatively stable (+0.5%) in Q1/2013, and we expect the new ‘Sunning effect’ to start soon," Savills said.