Wellcome operator DFI Retail seeks buyer for fully leased shopping centre on The Peak

DFI Retail, a Hong Kong-based food and beverage division of Jardine Matheson, is seeking to sell its fully leased shopping centre located on The Peak, a prestigious area of the city. The entire commercial area of the Dairy Farm Guildford Road Shopping Centre will be auctioned through a public tender, which is set to conclude at noon on November 19 according to the exclusive agent CBRE.

The prime location of the property, near the German Swiss International School, is bolstered by its tenant mix, which comprises a wide variety of businesses such as Wellcome Supermarket, real estate firms, and a cafe. The shopping centre, consisting of a two-story retail podium with approximately 8,974 square feet (834 square metres) of gross floor area, is currently at full occupancy.

The exceptional wealth of the resident base, coupled with the presence of around 1,300 students and families from the German-Swiss International School, spanning more than 30 nationalities, assures a robust and enduring spending capacity for the retail outlets. Furthermore, projections suggest that about 200 affluent families will relocate to the vicinity upon the completion of the ultra-luxury residential complex at Mansfield Road in 2028, a development spearheaded by Wheelock Properties.

This forthcoming influx of affluent families is expected to bolster the local spending power, thus elevating the long-term commercial and retail value of the property. DFI Retail is also in the process of acquiring over 1,100 Starbucks outlets across Asia, as part of a pact with Maxim's Caterers. Under this agreement, Maxim's will repurchase 50% of the equity it holds in Jardine Matheson's Dairy Farm unit.

Dairy Farm acquired a 50% stake in Maxim's in 1972, which was later transferred to DFI Retail. The Wu family maintains a 50% share in the enterprise through its company Hongkong Caterers. The Hong Kong retail market is currently undergoing a gradual recovery phase, with sales in the first eight months of the year increasing by 8.5% compared to the same period in 2025, as per preliminary data unveiled by the Census and Statistics Department.