Group 1 - The company, Star Group, has announced the sale of a property located at Silver Fortune Plaza, 1 Wellington Street, Hong Kong, for a total consideration of HKD 48.367 million [1] - The buyer, Wei Yong, will lease the property back to the company or its wholly-owned subsidiary at a monthly rent of HKD 185,000, excluding taxes and management fees, for an initial term of two years with an option to renew for an additional two years [1] - The property has a total built-up area of approximately 4,397 square feet and is currently used as a shared workspace by the company's indirect subsidiary [1] Group 2 - The board of directors has been evaluating the commercial environment in Hong Kong, the development of the commercial property market, and the company's financial condition [2] - The sale is seen as a way to realize the investment in the property, addressing the downward trend and uncertainties in the Hong Kong commercial property market, while improving the company's debt, liquidity, financing costs, and overall financial pressure [2] - The sale and leaseback arrangement will allow the company to continue operating its shared workspace business without the need to relocate or incur additional costs to restore the property at the end of the lease [2]
星星集团(01560)附属拟4836.7万港元出售香港物业