Swiss luxury watchmaker Audemars Piguet rents entire floor at The Henderson in Hong Kong’s Central district

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Audemars Piguet move to lease an entire floor or 12,000 sq ft of the 465,000-sq ft tower could boost sentiment in Hong Kong’s tepid property office market

Vacancy rates in Hong Kong’s office rental market are at an all time high with many asset owners in distress owing to the high interest rates and a slowing economy

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The Henderson in Central, Henderson Land’s flagship commercial building, will be officially opened in the last quarter of 2024. Photo: Yik Yeung-man

Cheryl Arcibal

Published: 6:32pm, 12 Sep 2023Updated: 6:52pm, 12 Sep 2023

Swiss luxury watch brand Audemars Piguet became the latest tenant to sign up for space at The Henderson in Central, lifting the occupancy of Henderson Land’s flagship commercial building to about 50 per cent, the property developer said in a statement on Tuesday.

Audemars Piguet’s move to lease an entire floor or 12,000 sq ft of the 465,000-sq ft tower, that will be officially opened in the last quarter of 2024, comes at a time of record-high vacancy rates in Hong Kong’s office rental market, with many asset owners in distress owing to the high interest rates and a slowing economy.

“The endorsement from prominent international brands and industry giants like Audemars Piguet comes as another ringing validation of The Henderson’s unique strengths and its prominence as a new iconic landmark of Hong Kong, strengthening our city’s international status,” said Martin Lee Ka-shing, chairman of Henderson Land.

Audemars Piguet joins the likes of London-based and French-owned auction house Christie’s, US-based private equity firm Carlyle Group, and Canada’s Pension Fund who were among the early tenants of the Zaha Hadid-designed mixed-use building in Hong Kong’s main business district.

Signage at the construction site of the Henderson commercial building, developed by Henderson Land Development Co., in Hong Kong, China. Photo: Bloomberg

The watch manufacturer is leasing an office space and will allot a portion of its space to the AP House, a premium retail house where clients can shop for timepieces and get a full experience of the brand.