COVID-19: HK celebrity Nicholas Tse slashes shop rental by more than 60% to help tenant

PETALING JAYA (March 31): The COVID-19 pandemic has severely impacted the Hong Kong retail industry, but some of the landlords there have reduced rental to help their tenants survive the outbreak.

And one of the kind landlords is Hong Kong celebrity Nicholas Tse (pictured), reported Sinchew Daily.

The 700 sq ft shop at Lyndhurst Terrace street in the Central area of Hong Kong, which Tse purchased in 2012 with a price tag of HK$117 million (approximately RM65 million), was rented out for HK$200,000 (around RM111,000) monthly.

The rental has now been reduced to HK$73,000 (around RM40,000), reprsenting a discount of 64%.

Tse also owns another bigger unit (built-up of 1,200 sq ft) at the same row, which is rented to a winery shop. That unit also saw the monthly rental reduced by HK$20,000 to HK$85,000, until August this year.

According to news reports from Hong Kong media, Tse has voluntarily offered rental discounts to the tenants, to help alleviate their financial burden.

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