McDonald's sells shop in Lai Chi Kok for HK$93.5 mln

McDonald's has sold a prime retail property in Mei Foo Sun Chuen for about HK$93.5 million, a 2.4-fold appreciation since its acquisition in 1988.

This property, located at Mastercard Plaza, Mei Foo Sun Chuen, Lai Chi Kok, spans approximately 6,915 square feet. It is one of the most popular and high-traffic shops around this area.

This US fast-food giant planned to sell all 23 of its stores in Hong Kong in the middle of last year, with a market value of around HK$3 billion. Until now, it has sold 7 stores, raising a total of around HK$583.6 million.

The buyer is linked to the family of veteran investor Desmond Kuek Bak Chye, according to market sources.