CONFIDENTIAL
Мис
Mkc 121 12
RECEIVED
14 MAR 1990
-clon Taken
SENI
HKC 121/2
010022
MDLIAN 2084
14
B5 / Mr Mande For Collmore
Mask & M. Mc Laren
copy
Mr Carrich
CONFIDENTIAL
FM BTC HONG KONG
IO-PRIORITY DII
DESK OFFICEM
INDEX
OF 28061OZ FEBRUARY 90
TELNO OTTER 43
AND TO PRIORITY FCO
INFO PRIORITY UKREP JLG HONG KONG, HONG KONG
BRITISH CHAMBER OF COMMERCE IN HONG KONG
SUMMARY
1.
THE BRITISH CHAMBER OF COMMERCE IN HONG KONG PLANS TO MOVE TO SMALLER AND LESS CENTRAL PREMISES AND TO CONTRACT ITS ACTIVITIES. IT IS DIFFICULT TO SEE HOW THAN CAN BE AVOIDED BUT IT WILL GIVE AN UNFORTUNATE IMPRESSION OF THE DEGREE OF BRITISH COMMERCIAL COMMITMENT.
DETAIL
2. THE BRITISH CHAMBER OF COMMERCE IN HONG KONG, FOUNDED THREE YEARS AGO TO GIVE BRITISH COMMERCIAL INTERESTS A FOCAL POINT SEPARATE FROM THE HONG KONG GENERAL CHAMBER, HAS BEEN HOUSED SINCE ITS INCEPTION IN MODEST BUT CENTRALLY LOCATED PREMISES OCCUPYING APPROXIMATELY 3500 SQ. FT. THEIR ACTIVITIES HAVE INCLUDED THE OPERATION OF A BUSINESS CENTRE WHICH PROVIDED SMALL OFFICES AND FACILITIES FOR VISITING OR SHORT STAY BUSINESSMEN. UNTIL RECENTLY THE BUSINESS CENTRE HAS BEEN A SIGNIFICANT SOURCE OF INCOME, BUT LATTERLY ITS BUSINESS HAS BEEN FALLING OFF. THE CHAMBER NOW HAS ABOUT 250 MEMBERS AND ITS SUBSCRIPTION AT HKD10,000 PER ANNUM IS THE HIGHEST AMONG THE VARIOUS CHAMBERS IN HONG KONG.
3.
THEIR LANDLORD HAS RECENTLY DEMANDED A RECENT INCREASE FROM HKD17 PER SQ. FT. TO HKD57 PER SQ. FT. UPON EXPIRY OF THE CHAMBER'S 3 YEAR LEASE. (VIRTUALLY ALL LEASES IN HONG KONG ARE FOR 2 OR 3 YEARS ONLY: ALL THOSE FALLING IN OVER THE LAST YEAR HAVE BEEN INCURRING INCREASES OF THIS ORDER). THE CHAMBER'S INCOME WILL NOT ALLOW THEM TO MEET AN INCREASE OF THIS SIZE.
4.
THEY ARE THEREFORE PROPOSING TO MOVE TO MORE MODEST PREMISES IN NORTH WANCHAI, OF 1061 SQ. FT., AT HKD37 PER SQ. FT. AND DROP THE BUSINESS CENTRE. THE MOVE TO BE EFFECTED IN THE NEXT FEW WEEKS.
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