Climax buys four floors

CLIMAX International has paid $146.5 million for four floors of the Capital Building in Lockhart Road, Wan Chai, as a short-term investment.

The acquisition consists of 1,282 square feet of retail space as well as 26,256 sq ft of office area.

Climax said the purchase would strategically increase the group's existing assets and recurrent income base.

In the long term, Climax said it might consider redeveloping the office space into a retail complex.

It said part of the redeveloped retail area might be retained for its own use, while the remainder would be either sold or leased.