McDonald's reportedly to sell 8 Hong Kong properties
McDonald's is said to be planning to sell eight prime retail properties in the SAR, with the largest on Salisbury Road in Tsim Sha Tsui. Photo: RTHK
Fast food giant McDonald's is planning to sell eight prime retail properties in Hong Kong with a total market value of HK$1.2 billion, according to property firm JLL.
In a statement on Monday, JLL said it has been appointed as the sole agent for the sale, which is being conducted via a public tender that ends on September 16.
The agency said the properties are in Tsim Sha Tsui, Causeway Bay, Mong Kok, Kennedy Town, Tai Kok Tsui, Yuen Long, Tsuen Wan and Tsz Wan Shan, and range from 6,800 to 19,000 square feet in size.
The largest is the ground floor and basement of Star House on Salisbury Road in Tsim Sha Tsui.
The company said the properties are all secured with long-term McDonald's leases and will be available for purchase either individually or as a portfolio.
Eunice Tang, executive director of capital markets at JLL in Hong Kong, said the sites will be supported by high rental yields with a full occupancy rate.
"Most of these McDonald's restaurants have been iconic dining destinations for over 30 years, with some operating 24/7, which underscores the strength and resilience of the tenants' businesses," she said.
Tang said there are no changes planned to the chain's restaurants in those locations and they remain operational.
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