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

DFI Retail, a food and beverage division of Hong Kong-based conglomerate Jardine Matheson, is seeking a buyer for its fully leased Dairy Farm Guildford Road Shopping Centre, located in one of Hong Kong's wealthiest neighborhoods. The mall's entire commercial section will be put up for sale through a public tender, which concludes at noon on November 19, according to their sole agent, CBRE.

The property, situated near The Peak campus of the German-Swiss International School, encompasses a two-story retail podium with a gross floor area of approximately 8,974 square feet (834 square meters) and multiple car parking spaces. Currently, the mall is entirely leased to various tenants, including Wellcome Supermarket, real estate agencies, and a cafe.

Analyst Avan Pau of CBRE noted that the property's prime location, backed by an affluent resident base and over 1,300 students and families from the international school representing more than 30 countries, provides a robust and sustainable revenue stream for the mall's retail tenants. Furthermore, it is anticipated that around 200 affluent families will relocate to the area upon the completion of a luxury residential development in 2028, led by Wheelock Properties.

This development is expected to bolster local spending power and bolster the property's long-term commercial value. Apart from its shopping centre, DFI Retail is also set to acquire over 1,100 Starbucks outlets across Asia as part of a deal with Maxim's Caterers, who will repurchase 50% of the stake held by Jardine Matheson. Jardine Matheson acquired a 50% interest in Maxim's in 1972, which was later transferred to Dairy Farm, now known as DFI Retail.

The Wu family continues to hold a 50% stake in the company through Hongkong Caterers. Hong Kong's retail sector is currently experiencing a gradual recovery, with sales in the first eight months of the year up by 8.5% compared to the same period in 2025, according to provisional figures released by the Census and Statistics Department.