Central retail shop bought by Swiss heir in ‘rare’ Hong Kong market move

AI Summary

A long-established Hong Kong developer sold a ground-floor retail shop in Central to an heir of Triumph underwear maker Triumph International. The sale of an asset held for more than 50 years is described as highly unusual, as international buyers rarely acquire local Hong Kong retail property.

In a rare market move, a long-established local developer sold a Central retail shop that was held for over 50 years to an heir of Swiss underwear maker Triumph, according to data from the Land Registry, a deal analysts have called “highly unusual”. The use of international capital to acquire local retail assets in Hong Kong is uncommon. Triumph International did not immediately respond to a request for comment from the South China Morning Post. The transaction involved a ground-floor shop at...