McDonald’s First US$154 Million Asset-Disposal Sale in Hong Kong

McDonald’s Corp has initiated its asset-disposal plan with the sale of a 9,695 sq ft property in Yuen Long for US$9.9 million, marking its first transaction since the announcement in July. The shop at Yuen Long Trade Centre was sold via public tender to Acc Investment, culminating in over eight times the company’s investment made back in 1987, fetching HK$77.4 million. The property transfer was completed on Monday, as recorded by the Land Registry. Despite reaching lease renewal in 2016, with McDonald’s reportedly paying a monthly rent of HK$460,000, the recent sale appears to demonstrate the strategic review by the…