Longbridge Securities Leases Prime Mong Kok Shop at HK$700K Monthly, Rivals Futu at Famed Intersection
SingTao · 1 SOURCESabout 1 hour ago2 MIN
Summary
Longbridge Securities (Longbridge) has taken up residence at one of Mong Kok's most prestigious commercial addresses, securing a corner shop on Argyle Street for approximately HK$700,000 per month . The firm has positioned itself directly across from competitor Futu Securities at the intersection of Argyle Street and Sai Yeung Choi Street South, a location industry insiders have dubbed the "divine-level crossroads" . The 1,800 square foot ground-floor shop at Oriental Building, 24-26 Argyle Street, was formerly the flagship store of clothing brand Apple (Texwood) for 35 years before the Tang family vacated in 2020 . Industry experts suggest the expansion reflects a strategic pivot, as mainland regulatory changes now require investors to visit Hong Kong in person to open cross-border brokerage accounts .
Key Points
- Longbridge Securities agreed to approximately HK$700,000 monthly rent for the 1,800 sq ft Argyle Street corner shop, translating to HK$389 per sq ft
- The property at Oriental Building, 24-26 Argyle Street, was held by Texwood founder Tang family since 1985, purchased for approximately HK$15 million
- Futu Securities had already established a presence at the same intersection since late 2023, reportedly paying over HK$1 million monthly for their corner site
- Mainland regulatory tightening on cross-border capital flows requires investors to open Hong Kong brokerage accounts in person
- Deng Shengxing, Managing Partner at Everbroad Capital Asia, noted that physical branches have become essential for attracting southbound mainland clients