Yu Shing Pharmacy Opens on Russell Street Serving Everyday Needs in Causeway Bay

Yu Shing pharmacy has taken over the Russell Street space previously occupied by luxury brand La Perla, providing a local business option focused on everyday health needs while larger international chains adjust their presence in Causeway Bay.

Retail Conditions in the District

Causeway Bay recorded a vacancy rate of 13.2 percent in the second quarter of 2025, up from 5.3 percent the prior quarter. H&M closed its flagship store in the district along with its Festival Walk branch in February 2026, cutting its Hong Kong network from 28 outlets to one remaining location in Tsuen Wan. These moves have left space available for different types of tenants.

Local Business Steps Forward

Yu Shing pharmacy now occupies the Russell Street site, paying approximately HK$1 million per month. This compares with the HK$7.5 million monthly rent paid by La Perla in 2015 and reflects a 46 percent decline in rents since 2018. The change brings a pharmacy serving routine local requirements into a prominent retail location previously held by a high-end international label.

Other Tenant Adjustments

Mainland budget retailer Miniso has opened a two-story flagship store in central Causeway Bay. Local perfume brand To Summer launched its first Hong Kong branch in the district last year. Online retailers have begun placing physical outlets in Causeway Place mall for handicrafts and accessories. Landlord Hang Lung Properties has reduced the size of some larger stores, including agnes b, to make room for smaller operators.

Despite the arrival of new stores such as the multi-floor Futu Securities location at Soundwill Plaza, overall vacancy remains elevated. Businesses like Yu Shing address day-to-day requirements that continue even as the mix of retailers shifts. Residents and visitors can check current store listings at major malls and streets in the district for the latest availability of local services.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.