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On the 20th November, Contrasts Gallery opened a new display area in Sichuan Middle Rd. grandest buildings, featuring art and design by Chinese artists. The gallery should bring new light to this area behind the Bund. While the Bund remains the public face of historic Shanghai; it is the streets immediately behind, teaming with iconic grandeur and art deco chic, which hold the key commercial future. They have the potential to become the most exclusive commercial area in the city. How long it takes before the lights come on, remains to be seen.
In geographic terms the area is limited, stretching from approximately Guangdong Rd., in the south to Beijing Rd in the north, Sichuan Rd., to the east and Henan Rd. to the West. However, this location has some tantalising attributes unique within the city. Transport is good, both via road from the Yan¡¯An elevated highway and subway (Henan Rd.,). The buildings themselves are large enough to be reconfigured for modern commercial purposes and the general location is equally well situated between Pudong and the downtown area west of People¡¯s Square. It could become what the ¡®West End¡¯ is to London.
¡°Iconic Grandeur¡±
 The highly publicised ¡®North Bund¡¯ project will also, once complete, bring a halo effect to this area with its five star hotel and modern office and living accommodation. For now, with some notable exceptions, much of this area is taken up with light industrial showrooms, ancient living accommodation and cheap offices. However, the arrival of some key tenants combined with successful redevelopment of some existing buildings, could fast change this situation. Contrasts Gallery may be hoping it has started a trend.
Success will also depend on the future policies of companies such as the Shanghai Bund Property Company Ltd., a government enterprise which essentially controls large blocks of property along both the Bund and Sichuan Rd. At times their policies on redeveloping buildings or securing better quality tenancies have been opaque, as has their attitude towards partnership developers with operators looking to take long-leases on whole buildings. However, there is evidence of developers and end users beginning to make some progress in securing access to some properties as both operational occupiers and long-lease developers.
¡°Empty for over 1-year¡±
 For now, commercial access to this area varies wildly in terms of both unit size and price. Condition is pretty constant across all types and characterised by an urgent need for restoration and redevelopment. Smaller office units are the easiest to find but, although located in impressive buildings, their reality is both shabby and mainly inappropriate for western company requirements. Larger units can be found in iconic buildings, some sadly lying empty due to landlord internal politics, others available but unadvertised on the market. These all combine to provide a hotchpotch of problems and opportunities.
¡°Reality of many smaller offices¡±
 In the future it is likely government planning will play an important role in opening up this area. If done so properly, it should create one of the most sort after commercial locations in Shanghai. Until then, for the intrepid and adventurous, small and large spaces alike, offer rewards and headaches in equal measure.
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