Sale Of Goldin Financial Global Centre

Sale Of Goldin Financial Global Centre Axed

HONG KONG – Despite a September news claiming that the Goldin Financial Global Centre in Kowloon East has been sold, it appears that the tussle for the 28-storey office building is not yet over, reported Mingtiandi on Monday evening (7 November, SGT).

Previously, a social media post by Savills on 21 September stated that Goldin Financial’s Hong Kong’s headquarter has been “sold” in a “done deal” without disclosing the selling price nor the buyer’s identity. Notably, the real estate consultancy has been appointed to oversee the tender of the commercial property seized by creditors after the Chinese developer defaulted.

However, HK01 news site reported that that the new buyer of the Grade A office property, HG Real Estate Investment Hong Kong Co Ltd, has been informed on 1 November by the receivers that the HK$6.7 billion (US$850 million) sale and purchase agreement would be rescinded and the would-be buyer’s HK$250 million deposit would be forfeited.

The new outlet cited court documents, but didn’t explain why the receivers terminated the sale, or if HG Real Estate Investment failed to comply with certain provisions of the sale agreement.

The court documents are in relation to HG Real Estate Investment filing a petition with the High Court against the office building’s receivers. Notably, the plaintiff asked the court to issue an order to enforce the sale and purchase agreement and to prevent the receivers from divesting the 852,501 sq ft commercial property to other potential buyers.

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