Media365
The Chicago-based group appointed JLL as the sole agent to find buyers for its assets in Tsim Sha Tsui, Causeway Bay, Mong Kok, Kennedy Town, Tai Kok Tsui, Yuen Long, Tsuen Wan and Tsz Wan Shan, according to a statement on Monday. The public tender closes on September 16, it added.
McDonald’s said it would continue to operate its restaurants in the eight locations on long-term leases. Some of the properties would be sold with additional tenancies involving 7-Eleven convenience stores and independent pharmacies, it added.
“This is an exceptional opportunity – one that has not occurred in decades – to acquire high-quality retail assets backed by resilient tenants like McDonald’s, who have maintained long-lasting leases and strong cash flow,” said Eunice Tang, executive director of capital markets at JLL in Hong Kong. With a 100 per cent occupancy, the portfolio offers stable income, supported by a high rental yield, the agent said.
JLL has “received significant interest from a wide pool of potential investors”, Tang said.
