Story perspectives

Investor Sells Tsim Sha Tsui Retail Portfolio for 12-Fold Gain

By Drooid · Oct 6, 2026, 4:25 AM UTC · How we work

Summary

Story summary

Investor Ng Kan-hoi sold his Tsim Sha Tsui retail portfolio, achieving a nearly 12-fold return.
The Cheung Lee and Wing Lee buildings changed hands for HK$256.8 million, about 40% below the HK$430 million asking price.
Ng originally bought the properties for HK$19.84 million in 1979-1987, generating a profit of nearly HK$237 million (US$30.2 million).
Lin Heung Tea House leases the first two floors of Cheung Lee for about HK$250,000 monthly, roughly HK$23 per sq ft.

1 of 1

Story summary

Investor Ng Kan-hoi sold his Tsim Sha Tsui retail portfolio, achieving a nearly 12-fold return.
The Cheung Lee and Wing Lee buildings changed hands for HK$256.8 million, about 40% below the HK$430 million asking price.
Ng originally bought the properties for HK$19.84 million in 1979-1987, generating a profit of nearly HK$237 million (US$30.2 million).
Lin Heung Tea House leases the first two floors of Cheung Lee for about HK$250,000 monthly, roughly HK$23 per sq ft.