McDonald’s puts 23 HK properties up for sale in phased disposal worth HK$3 billion

McDonald’s is preparing a phased sale of all 23 retail properties across Hong Kong, valued at about HK$3 billion, with the first batch including eight outlets.

The portfolio comprises eight McDonald’s restaurants located in Tsim Sha Tsui, Causeway Bay, Mong Kok, Kennedy Town, Tai Kok Tsui, Yuen Long, Tsuen Wan, and Tsz Wan Shan, with gross floor areas ranging from approximately 6,800 to 19,000 square feet, according to exclusive agent Jones Lang LaSalle. The batch is valued at a combined HK$1.2 billion, with bids closing on September 16.

The largest among them is the flagship store occupying the ground and basement levels of Star House in Tsim Sha Tsui.

McDonald’s first put the Star House property on the market in 2019 with an estimated valuation of around HK$1 billion, but the sale did not go through. The property’s value has since declined by about 55 percent amid a correction in the city’s retail property market.

STAFF REPORTER