Exclusive | Futu rents prime Causeway Bay address as online broker prepares for stock market bonanza

Futu could be paying HK$1.2 million (US$154,000) per month in rent, a steal compared to the HK$8.6 million in monthly rent that Burberry paid in 2018

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Renovation work at the venue of the former Transformers Ark restaurant on Russell Street, Causeway Bay on March 26, 2025. Photo: SCMP

Published: 8:30am, 3 Apr 2025Updated: 7:26pm, 3 Apr 2025

Futu Securities International (Hong Kong) has scooped up a prime retail space in Hong Kong’s Causeway Bay, according to market sources, as one of China’s fastest-growing online brokers doubles down in one of the world’s most expensive retail areas to prepare for a bull run in the stock market.

Futu will occupy the street-level space in Soundwill Plaza on Russell Street that was left vacant since February by the Transformers: The Ark restaurant. The broker could be paying HK$1.2 million (US$154,000) per month to add another bricks-and-mortar branch to its online business, according to agents’ estimates. Futu declined to comment.

The rental charge for the 4,540-sq ft (421.8 square metres) space occupying three floors - currently under renovation - has risen by a fifth since the Transformers restaurant’s owner iFree vacated the shop, agents said.

Still, the rent is about an eighth of the monthly charge of HK$8.6 million that Burberry paid in 2015 to the landlord Soundwill Holdings during Hong Kong’s pre-pandemic retail boom. The British fashion brand ended its lease in 2021, two years into a slump that was sparked by anti-government protests and followed by the pandemic-era travel restrictions. Transformers restaurant took over the space from Burberry.

The Transformers: The Ark restaurant at Soundwill Plaza on Russell Street in Causeway Bay on 26 September 2024 before its closure. Photo: Sun Yeung

“We have seen more leasing activities, but they have not translated into higher rents,” said Martin Wong, senior director and head of research and consultancy for Greater China at Knight Frank.

.css-sioo19{color:#c79a00;}Exclusive | Futu rents prime Causeway Bay address as online broker prepares for stock market bonanza

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Futu could be paying HK$1.2 million (US$154,000) per month in rent, a steal compared to the HK$8.6 million in monthly rent that Burberry paid in 2018

Exclusive | Futu rents prime Causeway Bay address as online broker prepares for stock market bonanza

Futu could be paying HK$1.2 million (US$154,000) per month in rent, a steal compared to the HK$8.6 million in monthly rent that Burberry paid in 2018