Latest news with #EuniceTang
Yahoo
6 hours ago
- Business
- Yahoo
McDonald's Hong Kong property sale draws investor interest
McDonald's is set to sell eight prime retail properties in Hong Kong, valued at approximately HK$1.2bn ($152.89m), according to JLL, the appointed sole agent for the sale, reported Reuters. Despite the sale, the McDonald's outlets at these locations will continue their operations, as confirmed by JLL's executive director of capital markets, Eunice Tang. In a statement, the fast-food giant highlighted its ongoing review of its property portfolio, which has led to the decision to offer the Hong Kong sites for sale. McDonald's reassured its commitment to the Hong Kong market amidst this strategic assessment. Earlier reports from the Hong Kong Economic Times indicated that McDonald's had plans to divest all of its 23 retail spaces in Hong Kong in phases. The properties are valued at nearly HK$3bn in total. The company aims to maintain its operations at these locations as a tenant, ensuring no disruption to its services in the city. Currently, McDonald's operates approximately 256 restaurants in Hong Kong, with many in rented spaces. The divestment follows a significant transaction in 2017, where McDonald's sold an 80% stake in its mainland China and Hong Kong businesses to a consortium including CITIC and Carlyle Group for up to $2.1bn. However, the properties in question remain under McDonald's ownership. Interested investors have until 16 September 2025, to participate in the public tender for the sale of these eight properties. The properties, secured with long-term leases to McDonald's, are available for individual or portfolio purchase. The move comes at a time when prime street rents in Hong Kong have dropped to levels last seen in 2003, reflecting changes in consumer habits and a challenging environment for retailers leading to numerous store closures. "McDonald's Hong Kong property sale draws investor interest" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
7 hours ago
- Business
- Time of India
McDonald's to sell eight Hong Kong retail spaces valued at $153 million: JLL
HONG KONG : McDonald's Corp is planning to sell eight prime retail properties in Hong Kong with a total market value of around HK$1.2 billion ($152.89 million), JLL, which has been appointed as the sole agent of the sale, said on Monday. The McDonald's outlets in the locations will continue to operate, JLL executive director of capital markets Eunice Tang said in a statement. In a separate statement, McDonald's Corp said it continually reviewed its property portfolio and that the Hong Kong sites were available for sale as part of that assessment. The fast-food company, which is headquartered in Chicago, said it remained fully committed to the Hong Kong market. Hong Kong Economic Times reported earlier on Monday McDonald's planned to sell all of its 23 retail spaces - valued at nearly HK$3 billion in total - in batches, but it would continue operating in existing locations as tenants, and the sale would not affect its operations in the city. McDonald's has around 256 restaurants in Hong Kong, the report said, many in rented spaces. In 2017, McDonald's Corp sold an 80% stake in its mainland Chinese and Hong Kong operations to a group that included CITIC Ltd, its investment arm CITIC Capital, and Carlyle Group for up to $2.1 billion. But the assets remain under McDonald's Corp. The sale of the eight retail properties is offered through a public tender that ends on September 16. JLL said it had already received significant interest from a wide pool of potential investors. All the properties are secured with long-term McDonald's leases, and they are available for purchase either individually or as a portfolio, it added. Overall prime street rents in the first quarter have fallen back to 2003 levels, as Hong Kong's retailers battle shifting consumer habits that have led to a wave of store closures.
South China Morning Post
a day ago
- Business
- South China Morning Post
McDonald's seeks US$153 million for 8 Hong Kong retail properties in rare asset sale
McDonald's Corp is selling eight retail properties in Hong Kong with an estimated market value of HK$1.2 billion (US$153 million), giving investors a rare opportunity to own fully tenanted assets, as the world's biggest fast-food chain reviews its real estate portfolio in the city. 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. McDonald's Star House outlet on Salisbury Road in Tsim Sha Tsui. Photo: Handout JLL has 'received significant interest from a wide pool of potential investors', Tang said.
RTHK
2 days ago
- Business
- RTHK
McDonald's reportedly to sell 8 Hong Kong properties
McDonald's reportedly to sell 8 Hong Kong properties McDonald's is said to be planning to sell eight prime retail properties in the SAR, with the largest on Salisbury Road in Tsim Sha Tsui. Photo: RTHK Fast food giant McDonald's is planning to sell eight prime retail properties in Hong Kong with a total market value of HK$1.2 billion, according to property firm JLL. In a statement on Monday, JLL said it has been appointed as the sole agent for the sale, which is being conducted via a public tender that ends on September 16. The agency said the properties are in Tsim Sha Tsui, Causeway Bay, Mong Kok, Kennedy Town, Tai Kok Tsui, Yuen Long, Tsuen Wan and Tsz Wan Shan, and range from 6,800 to 19,000 square feet in size. The largest is the ground floor and basement of Star House on Salisbury Road in Tsim Sha Tsui. The company said the properties are all secured with long-term McDonald's leases and will be available for purchase either individually or as a portfolio. Eunice Tang, executive director of capital markets at JLL in Hong Kong, said the sites will be supported by high rental yields with a full occupancy rate. "Most of these McDonald's restaurants have been iconic dining destinations for over 30 years, with some operating 24/7, which underscores the strength and resilience of the tenants' businesses," she said. Tang said there are no changes planned to the chain's restaurants in those locations and they remain operational.
Business Times
2 days ago
- Business
- Business Times
McDonald's to sell eight Hong Kong retail spaces valued at HK$1.2 billion: JLL
[HONG KONG] McDonald's is planning to sell eight prime retail properties in Hong Kong with a total market value of around HK$1.2 billion (S$196 million), JLL, which has been appointed as the sole agent of the sale, said on Monday (Jul 28). The McDonald's outlets in the locations will remain operational, JLL executive director of capital markets Eunice Tang said. Hong Kong Economic Times reported earlier on Monday that McDonald's planned to sell all of its 23 retail spaces – valued at nearly HK$3 billion in total – in batches, but it would continue operating in existing locations as tenants, and the sale would not affect its operations in the city. McDonald's has around 256 restaurants in Hong Kong, the report said, many in rented spaces. McDonald's could not be immediately reached for comment. In 2017, Chicago-based McDonald's sold an 80 per cent stake in its mainland Chinese and Hong Kong operations to a group that included Citic, its investment arm Citic Capital, and Carlyle Group for up to US$2.1 billion. But the assets remain under McDonald's. The sale of the eight retail properties is offered through a public tender that ends on Sep 16. JLL said it had already received significant interest from a wide pool of potential investors. All the properties are secured with long-term McDonald's leases, and they are available for purchase either individually or as a portfolio, it added. Overall prime street rents in the first quarter have fallen back to 2003 levels, as Hong Kong's retailers battle shifting consumer habits that have led to a wave of store closures. REUTERS
