Grade-B Offices in Tsim Sha Tsui See New Life Through Celebrity Brokerage Expansion
Celebrity Brokerage Fuels Demand for Grade-B Offices in Tsim Sha Tsui
Hong Kong’s struggling office market finds a spark as the Three Sheep Group, under the leadership of Zhang Qingyang, known as Crazy Xiaoyangge, establishes a new branch in Tsim Sha Tsui. The company has recently leased over 5,000 sq ft of grade-B offices, attracting notable local celebrities like Eric Tsang and Alan Tam to its opening ceremony.
New Office Space and E-commerce Live-streams
Founded in 2021, Three Sheep Group operates as a service platform for content creators in mainland China, focusing on brand operations and e-commerce live-streams. The company’s expansion into Hong Kong, where it rented space in the United Asia Finance Centre for HK$183,000 monthly, signals rising interest from mainland-based companies.
- Rental rates for grade-B offices have decreased by 14% since September 2019.
- The demand for office space is rising amidst falling rents.
- Mainland companies are increasingly looking for cheaper and flexible office solutions.
Impact of Celebrity Influence on Rental Rates
This influx of celebrity brokerage and businesses tied to influencer marketing could potentially reshape the rental landscape in Hong Kong’s office market. As Zhang Qingyang reports a staggering 3.21 billion yuan in earnings for 2023, his ventures will likely continue to attract talent and investment.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.