Wai Yuen Tong (00897) and Hongan Group (01222) issued a joint announcement. On March 1, 2024, the seller Guangjun Development Co., Ltd. (an indirect wholly-owned subsidiary of Wai Yuen Tong) signed an interim agreement with the buyer Lee Wai Shing and the property agent Jinghua Property Agency Limited. The seller agreed to sell, and the buyer agreed to buy such properties at a cost of HK$41 million.
According to reports, these properties include a commercial unit located in Shop C on the ground floor of Lee Wah Building, 738-740A Nathan Road, Kowloon, Hong Kong, China, and a warehouse located in Room C of the loft of Lee Wah Building, 738-740A Nathan Road, Kowloon, Hong Kong, China. The total useful area is about 431 square feet, plus a patio with a total useful area of about 77 square feet. On the date of this joint announcement, Wai Yuen Tong Group will use such properties as its own retail stores and retail store warehouses. The lease will expire on January 27, 2026.