Plaza Hollywood shopping centre delivered a “solid” performance in 2015, according to parent The Wharf Holdings.
The Kowloon East mall achieved a revenue increase of 3 per cent to HK$529 million for the year and operating profit was maintained at HK$398 million. Occupancy rate was 96 per cent at the end of December.
“Meticulous tenant mix enhancement further unleashed growth opportunities,” said Wharf Holdings in its annual results filing.
“The prime location in Kowloon East, a vibrant CBD2, alongside excellent transport connections
affirms the enormous growth potential for Plaza Hollywood.
“The mall is easily accessible with its favourable location atop Diamond Hill MTR Station, the future interchange hub for the new Shatin-Central link with the existing MTR network, and its direct linkage with the Diamond Hill bus terminus. It is also in close proximity to the Tate’s Cairn tunnel, a vehicular artery connecting Kowloon East with the New Territories and beyond to Shenzhen. Various adjacent cultural landmarks and tourist attractions further distinguish Plaza Hollywood from other malls in the region.”
Designed without columns Plaza Hollywood has optimal planning flexibility in creating tenant spaces.
Wharf said with a highly efficient layout (65 per cent of GFAs is lettable), the mall enjoys a competitive edge in its valuable critical mass for shoppers and retailers – more than 250 retail outlets, 20 restaurants, and a six-screen cinema multiplex with 1614 seats.