A Bossini International subsidiary is selling one of its properties in Macau, and will lease it back for three years to continue trading.
The 279 sqm store is located in the Central Commercial Centre at 60 Avenida Henrique. It is one of the main Bossini Macau stores in the territory.
The property has been sold for HK$350 million to an undisclosed buyer. Bossini Macau will lease the site back for $1 million annually for three years, with a right to renew the lease for another three years at $1.1 million for the first year, $1.15 million for the second and $1.2 million for the third.
“The disposal gives a good opportunity for the group to realise its investment with considerable gain,” Bossini said in a statement to the stock exchange.