Provident Square, North Point, Hong Kong

In February 2018, Chelsfield Asia Fund I in a joint venture with Pamfleet, acquired Provident Square, a neighbourhood shopping centre in Hong Kong.

Completed in 1982, this mall is one of the largest in North Point, with a total gross floor area of 210,000 sq ft split over 3 levels, and a 732 ft front on Wharf Road.

The opportunity is to transform the existing under-managed, under-rented mall into a more modern and aspirational shopping centre. Large-scale refurbishment works will be carried out mainly on the façade and will improve the visibility, accessibility and circulation of the podium and therefore attract more visitors and better quality tenants.

Chelsfield has appointed the award winning international design studio Lead8 for the exterior and interior design.

9 Queen’s Road, Central, Hong Kong

In April 2018, Chelsfield Asia Fund I acquired this 7,800 sq ft property in a 60/40 joint venture with L Catterton (a partnership between Catteron, the leading consumer-focused private equity firm, LVMH and Groupe Arnault, the family holding company of Bernard Arnault).

Located in the core business district and beside Landmark, a top-tier luxury shopping and lifestyle destination, the property comprises four connected ground floor retail units and are part of a 31-storey Grade A office building.

Previously owned and occupied by Hermes the units offer a wide frontage facing Des Voeux Road Central and Ice House Street.

The strategy is to sub-divide the space into smaller units to create a more dynamic mix and attract more pedestrian footfall, let the Des Voeux Road Central facing unit to a luxury tenant, and temporarily operate the rest of the space as a pop up gallery to then later lease it to premium retail brands.

Chelsfield has also appointed Lead8 to enhance the façade.