Hysan Development (00014) said it agreed to purchase the property located at No.9 Lan Fong Road, Hong Kong at HK$75 million and the land at HK$100 from substantial shareholder Lee Hysan Estate Company, Limited.
The property is currently being leased out to independent third party tenants.
Hysan considers that the acquisitions are beneficial to the Group as the property and the land are located at the prime location of Causeway Bay and the consideration for the acquisitions is competitive.
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