Parkson Retail Unit Renews Shanghai Store Lease Through 2036
MT Newswires Live
May 11
Parkson Retail's (HKG:3368) unit renewed the lease for its Shanghai Hongqiao store through the end of 2036, in a transaction valued at about 374.5 million yuan, according to a May 8 Hong Kong bourse filing.
Shares of the department store operator were down over 1% in Monday morning trade.
Parkson said its indirect wholly-owned subsidiary, Shanghai Hongqiao Parkson, signed a renewal agreement with Shanghai Changning Real Estate for retail space in Shanghai's Changning district.
Monthly rent will be about 5.2 million yuan from July 2026 through September 2031 and about 5.3 million yuan for the remainder of the lease term.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.