How Jardine Matheson’s street-shop sale reflects Hong Kong retail property’s struggles
British conglomerate sells Causeway Bay asset at a discount – after holding the property for more than 50 years
The property, a ground-floor shop in H&S Building at 36 Leighton Road, with a gross floor area of about 11,727 square feet, was acquired by Uni Investment Development, according to Land Registry records.
Jardine Matheson appointed an agent to market the property in early April, when it was valued at HK$90 million. The eventual sale price – equivalent to HK$6,822 per square foot – was about 11 per cent lower.
