Parkson Retail to open store above Chinese railway station
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Parkson Retail Group is preparing to occupy a complex above Nanjing Railway Station in Chinese Jiangxi.
The group, a Hong Kong-listed firm controlled by Malaysian Parkson Holdings Bhd, won its US$6.1 million bid for the tenancy of buildings above the Bayi Guan Station of the Nanchang Rail Transit Line 1 in the city.
The 12-year tenancy will allow a 42,903sqm retail space for the firm, although no formal agreement on the tenancy has been signed as of yet.
A statement from the firm read: “The tenancy, if materialised, may constitute a discloseable transaction for PRGL,” given its alignment with the firm’s development strategy for the province.
Questions & Answers
Q.Which specific station will the new Parkson Retail store be located above?
Which specific station will the new Parkson Retail store be located above?
The new Parkson Retail store will be located above the Bayi Guan Station of the Nanchang Rail Transit Line 1. This station is part of the complex above Nanjing Railway Station in Chinese Jiangxi.
Q.What is the duration of the tenancy agreement for Parkson Retail's new store?
What is the duration of the tenancy agreement for Parkson Retail's new store?
The tenancy agreement for Parkson Retail's new store is for a period of 12 years. This will provide the firm with a substantial retail space of 42,903 square metres.
Q.Why would this tenancy potentially be considered a 'discloseable transaction' for Parkson Retail Group?
Why would this tenancy potentially be considered a 'discloseable transaction' for Parkson Retail Group?
The tenancy, if it materialises, may constitute a discloseable transaction for Parkson Retail Group. This is because it aligns with the firm's development strategy specifically for the province of Jiangxi.
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