McDonald's sells its Quarry Bay shop for HK$110 mln

McDonald's has sold its Quarry Bay shop for HK$110 million, marking its latest property disposal after offloading seven shops since October last year.

This property, which is located at Shop 1 on the upper ground floor of Parkvale Place on King’s Road in Quarry Bay, was acquired by Uni Investment Development.

The US fast-food giant originally purchased several ground- and upper-ground-floor units in Parkvale Place in 1989 for HK$150 million. 

In 2021, it sold a 22,527 square feet upper-ground-floor shop to Vivien Chan Wan-wan, founder and chairwoman of The V Group, and former chairman of the Estate Agents Authority, for HK$260 million. 

The company 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. 

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓