bea appoints agency for tender of building stake
Bank of East Asia has appointed Jones Lang LaSalle to handle the tender for its 75 per cent stake in the United Chinese Bank Building in Central. The tender will close on August 8.
The 45-year-old building, at the junction of Des Voeux Road Central and Douglas Street, has a gross floor area of 83,149 square feet, of which the bank owns 61,168 sqft.
The buyer has the option of leasing back the retail portion to the bank after acquiring the property.
'As the remaining 25 per cent ownership is singly owned by another individual, the building has potential for redevelopment and refurbishment,' Jones Lang LaSalle investments department head Warren Liu said. Yvonne Liu
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