McDonald’s sells Hong Kong shop for US$15.3 million as ‘old money’ returns to retail

As “long-dormant old money” steps back into Hong Kong’s retail property market, McDonald’s has sold the property housing its first New Territories restaurant for HK$120 million (US$15.3 million), extending its year-long sell-down of self-owned shops. The property at 10-22 Tsuen Wan Market Street, spanning the ground floor to the second floor, was sold to Keen Charm Holdings (HK) Limited, with the agreement for sale signed on August 31, according to the Land Registry. Company Registry listed Ngan...