Franco Liu, Managing Director of Savills Macao, said the subject property is a two storey retail shop. It has a site area of 1,496 sq.ft. The gross area is 3,000 sq.ft., with a wide frontage of 40 feet. The existing tenant is a traditional Chinese snacks souvenir shop. 

The shop is located in a major tourist area facing the Ruins of St. Paul’s Church, with souvenir shops, brand shops, and restaurants nearby. It is conveniently located and highly accessible, and is a mere 3-minute walk to Senado Square.  The shop is suitable for various businesses, in particular as a specialty shop for major brands. It can also be redeveloped into a multi-floor building for commercial use.

With the opening of major shopping malls like The Grand Canal Shoppes at the Venetian Macao, The Shoppes at the Four Seasons Macao, and One Central, many international brands have been brought into Macau. Besides these grand malls, shops in the tourist hot spots of the Senado Square and Ruins of St. Paul’s Church area have been the most sought-after ones by major cosmetic and fashion brands and restaurants, with SKII, H2O, Mango, Starbucks, and Haagan Dazs being the winners in battling for the limited retail spaces. Recently it is said that the rent per sq.ft. in the area has reached a new high of HK$700, reflecting a positive sentiment towards the outlook of the local retail market.

Liu added that the average rent per sq.ft. in the area is around HK$150 to HK$200, with a yield of 4%. As demand for shops in the tourist area continues upon limited supply, the subject property is simply a rarity in the market. He expected that this year the price of shops in general will increase 10% to 20%, while for those in tourist area will see a rise of 20% to 30%, meaning there are huge potentials for investing in shops.