Transaction Overview
McDonald's has completed the sale of its shop space located in Hong Kong’s Sham Shui Po district. The transaction price was HK$93 million, which is approximately US$11.9 million at current exchange rates. The sale price translates to about HK$12,300 per square foot for the 7,556 square‑foot property, representing a 30 percent reduction from the asking price that was set in the previous year.
Historical Acquisition Cost
The property was originally acquired by McDonald's in 1988 for HK$18.9 million. Comparing the original purchase price with the current sale proceeds indicates a substantial decline in the asset’s valuation over the holding period.
Contextual Details
No additional terms, conditions, or parties to the transaction were disclosed in the source. The sale was reported by local media, including the Hong Kong Economic Times, and was summarized by Reuters.