McDonald’s Hong Kong shops sell like hotcakes, yielding US$23.5 million
Two McDonald’s shops in Hong Kong were sold to the same buyer for HK$183 million (US$23.5 million) on Monday, marking the fast-food chain’s second and third sales this month as it proceeds with an asset-disposal plan amid an improving commercial property market. A 7,357 sq ft property in Mong Kok’s Good Hope Building was handed over to the buyer, Verity Partners, for HK$83.2 million, or HK$11,293 per square foot, on Monday, according to data from the Land Registry. A two-storey shop spanning...