In recent years, pet warehouses and dog hotels have proliferated, but unconventional "pet" shops have also entered industrial buildings, selling rare species from distant lands such as South America, often at higher prices.
The crayfish specialty store "CrayfishKeepers" moved into an industrial building in Kwun Tong two years ago. Owner Jeffery rented over a thousand square feet for about HKD 15,000 per month and established a breeding room of over a hundred square feet, housing nearly a hundred fish tanks for breeding crayfish. In addition to entry-level crayfish, he also sells more difficult-to-breed exotic varieties, such as Hellfire and Dwarf Devil, with prices ranging from HKD 1,000 to several thousand per pair. "Kwun Tong industrial buildings attract many foreign customers, office workers, students, and families. There was a customer who spent HKD 10,000 on several pairs of rare crayfish."
Lower Rent for "Three-in-One" Shops
He mentioned that in recent years, about seven new aquarium shops have opened in Kwun Tong industrial buildings. "Breeding crayfish and crystal shrimp requires a lot of space, but fish street rents can easily exceed HKD 100,000, while industrial buildings only require over ten thousand, so naturally, aquarium shops are moving here." He candidly stated that in addition to renting industrial buildings for breeding, he hopes to create a mini aquarium of over ten thousand square feet in the industrial building.
Joe, who previously operated an ornamental fish farm in Chai Wan, also moved to an industrial building in Kwun Tong four years ago to open "Saturday Aquarium," breeding precious wild ornamental fish from Asia and South America. He openly stated that his unit is nearly 900 square feet, with a monthly rent of HKD 8,500, and he currently receives shipments two to three times a month, costing nearly HKD 200,000. "Opening an aquarium shop in an industrial building allows for a wider variety to attract foot traffic." He also noted that there are many middle-aged customers, and there was even a customer who spent HKD 50,000 on a South American devil fish. The overall rare ornamental fish business has grown by 20% in recent years.
More than a decade ago, aquarium shops began entering industrial buildings, but most were used for breeding rather than retail. Joe admitted that in recent years, due to high rents, many aquarium shops have shifted to industrial buildings, operating a combination of retail, breeding, and wholesale. "Currently, most shops on Goldfish Street in Mong Kok are large chain aquarium stores run by established businesses, while other shops have turned into restaurants. In contrast, industrial buildings have lower rents and larger spaces, making it easier for aquarium shops to operate." He also pointed out that Kwun Tong has a bustling foot traffic, attracting many young entrepreneurs to start aquarium shops, with no more than ten new shops opening each year, leading to fierce competition.
Hugo, a director at Midland Realty, revealed that in recent years, there has indeed been a trend of aquarium shops opening in industrial buildings in Kwun Tong, with rents ranging from HKD 13 to 15 per square foot. He stated that although aquarium shops, like food factories and dishwashing factories, are not favored by landlords, some landlords refuse to rent out units due to fears of water leaks, while others raise rents. However, in recent years, many aquarium shops have been willing to rent industrial spaces.
Only One "National Treasure of Brazil" in Hong Kong
The aquarium shop "Rare Fin" moved out of Goldfish Street in Mong Kok four years ago and relocated to an industrial building in Yuen Long, renting about a thousand square feet. Owner Brian stated that the industrial building has ample space, and when he first moved in, he also operated a breeding farm. "At that time, Brazil still prohibited the export of dragon pattern cichlids, so I bred them myself to sell, with each selling for HKD 6,000. Later, when Brazil lifted the ban, the fish prices dropped, and I stopped breeding them."
Currently, the unit houses over ten large fish tanks filled with wild ornamental fish, including a tank over six meters long that contains a catfish known as the "Satanic Leaf-Tailed Gecko," worth tens of thousands, as well as a "Crown Black and White Stingray," known as a national treasure of Brazil, which is quite valuable. "This catfish should be the only one in all of Hong Kong's aquarium shops; the others are all 'collectors' items.'"
Two years ago, seeing the demand for reptile "pets," he began selling tortoises in the industrial building. Last year, he reopened a storefront in Yuen Long, where he sells tortoises, chameleons, etc., while using the industrial unit for selling fish and storage, occasionally allowing regular customers to visit. Brian stated that his average monthly revenue is HKD 600,000, selling 800 tortoises and over a thousand fish a year, with the demand for reptile "pets" increasing by 20% to 30% compared to last year.
He explained that the market has accepted unconventional "pets," with family customers buying "Matamata Turtles," and there have been affluent customers who spent HKD 200,000 on tortoises. Moreover, "as soon as a new variety is available, they buy it immediately," such as the Aldabra tortoise priced at HKD 15,000, which is always in high demand.
Snake Enthusiasts Borrow Money from Banks to Purchase Their Favorites
Another rare pet, the ball python, is also in demand. Python expert Liu Hanjie rents about 4,000 square feet in an industrial building in Fo Tan to breed ball pythons. He raises 400 adult ball pythons in his unit, focusing on rare premium snakes. "Many people are willing to spend money on high-end varieties; there have been customers who borrowed money from banks and swiped cards for over HKD 100,000 to buy snakes."
He also mentioned that because rare ball pythons can breed new varieties through mating, they have significant appreciation potential, attracting more and more local enthusiasts to keep snakes. "Young entrepreneurs are also flocking to open shops; for example, there were previously no reptile pet shops in Yuen Long, but now there are several, and some have opened in industrial buildings."
He is surrounded by many enthusiasts of rare pets, with two to three people sharing rental spaces in industrial buildings or mini-storage units to collect different snake varieties, with areas ranging from 300 to several thousand square feet, creating their own "paradise." "They often rent old industrial buildings in Tsuen Wan for about HKD 6,000 per month to keep snakes or tortoises, as the rent is low, and many people even rent alone." Jeffery also mentioned that many friends share rental spaces in industrial buildings to display rare crayfish for ornamental purposes, as they lack space at home. "In an industrial building, a space of over a hundred square feet only costs over HKD 3,000 per month, with about HKD 500 in electricity bills, and several friends split the costs, making it very economical. I believe this is also a new trend in raising shrimp."
