商报记者吕文鹃 实习生 王佳怡 7月10日，百大集团（600865）披露的一纸公告,改写了武林商圈乃至杭州商圈的未来格局。 当晚，百大集团发布公告，公司拟将位于浙江省杭州市延安路546号的杭州百货大楼南、北楼物业出租 给恒隆地产，交付日暂定2028年4月1日，租赁期限为自交付日起20年。 一举承接百大集团这20年的恒隆，又是谁？ 恒隆入局 重奢保卫战升级 新租赁地段规划暂不明确 而作为本次事件的主角兼金主，恒隆今年以来的动态也备受关注。自2018年斥巨资拿地后，2024年7 月，杭州恒隆广场办公塔楼主体封顶。2025年1月，恒隆集团在业绩发布会上透露："杭州恒隆广场的多 座办公楼计划于2025年起分阶段落成，购物商场亦会随之开业。预租反应理想，零售面积租出率约为 70%。"2月，从外侧已可以看到杭州恒隆广场整个建筑体的完整轮廓，外立面由玻璃及大面积的橙色幕 墙构成；今年5月底，恒隆完成了恒隆集团LOGO的悬挂，目前项目正处于内部装修阶段。 2018年，恒隆斥资107.3亿元拿下毗邻武林银泰的百井坊地块；2025年初，距拿地后7年，恒隆广场才再 度传出开业相关动态。而与恒隆广场仅几街之隔、定位同样为高端商业的杭 ...

Core Viewpoint - Hang Lung Group is making a significant investment in the luxury market of Hangzhou by signing a major leasing contract for the Hangzhou Department Store, indicating a strategic move to strengthen its presence in the high-end retail sector [2][5][11]. Group 1: Leasing Agreement Details - The leasing contract involves the property located at 546 Yan'an Road, Hangzhou, with a total area of approximately 42,000 square meters, set to be leased to Hang Lung Business Operation (HK) Limited for 20 years starting from April 1, 2028 [5][6]. - The rental fee is set at RMB 37.5 million per quarter, with a 4.5% increase every three years, amounting to a total rental payment of over RMB 3 billion over the 20-year period [5][8]. - The rental agreement includes a rent waiver for the first two years, allowing for three months of rent to be waived each year [5][6]. Group 2: Market Context and Competition - The luxury retail market in Hangzhou is competitive, with established players such as Hangzhou Tower, Hangzhou MixC, and Lakeside Yintai in77, all of which have reported significant sales figures [14][16][18]. - Hangzhou Tower achieved sales of RMB 14 billion in 2023, while Hangzhou MixC reported sales of RMB 11.2 billion in the same year, indicating a robust luxury market [16][18]. - The upcoming Hang Lung Plaza, located near the leased property, is expected to create a combined luxury retail space of over 300,000 square meters, further intensifying competition in the area [11][29]. Group 3: Strategic Implications for Hang Lung - Hang Lung's decision to invest heavily in Hangzhou reflects its confidence in the city's economic potential, driven by a strong consumer base and a favorable business environment [31][35]. - The company has a history of successful operations in mainland China, with a significant portion of its revenue derived from retail leasing, which underscores its strategic focus on high-end commercial properties [30][35]. - The expansion in Hangzhou is part of a broader strategy to enhance its market position in key cities, leveraging its existing assets and brand reputation to capture a larger share of the luxury retail market [35].