Hong Kong-listed Moiselle’s chairman sells Mid-Levels flat for US$10.5 million amid upturn
The sale of the 2,429 sq ft flat in Tregunter Tower by Chan Yum-kit follows the disposal of an entire floor in Cosco Tower
The chairman of Hong Kong-listed women’s apparel retailer Moiselle International Holdings sold a property last week, the latest in a slew of disposals over the past few months amid a gradual improvement in the city’s residential market.
A 2,429 sq ft four-bedroom flat in Tregunter Tower in Mid-Levels was handed over on Friday to an entity called New Pacific Investment for HK$81.8 million (US$10.5 million), according to the Land Registry.
The seller, Dragon Field, bought the unit in 2011, according to agents. Moiselle’s chairman Chan Yum-kit and his wife Shirley Tsui How-kiu are the directors of Dragon Field, according to the Companies Registry.
Last month, Chan sold the 23rd floor of Cosco Tower in Sheung Wan to Zhongke Health International for HK$220 million, according to official records. Chan bought the office space for about HK$200 million in 2009. Last year, the asset was put on the market for HK$335 million, agents said.
The asset disposals came after the company’s bottom line was hurt by weak consumer spending last year. Moiselle’s loss for the year ended March 31 widened to HK$56 million from HK$48.1 million a year earlier.