Building Block Group (08187) announced that on February 19, 2024, Jincan Company (as owner) and Art Kingdom (as tenant), a direct wholly-owned subsidiary of the company, signed a lease agreement to lease the property for a period of 3 years from March 4, 2024 to March 3, 2027 (including the first and last two days) to be used as one of the Group's retail stores.
The property is on the 1st floor of Tak Wah Building, 290, 290A, 292, 294 and 296 Hennessy Road, Hong Kong, China. The total value of rent payable by Art Kingdom under the tenancy agreement is HK$2.16 million, which means a monthly rent of HK$60,000, excluding government rent, rates and management fees, which must be paid in advance without any deduction.