Citibank tower property sold

May 30, 2013

The Government has sold a property at No. 3 Garden Road for $2.155 billion, the Government Property Agency announces.
 
The sale agreement executed today for the Financial Secretary Incorporated property, originally used as the Legislative Council Secretariat’s office, includes a portion of the 3rd floor and the whole of the 4th, 5th and 6th floors of Citibank Tower.
 
The property has a gross floor area of about 6,100 square metres. Its sale will release Grade A office space in Central for commercial use.
 
Under a 1996 agreement, Shine Hill Development Limited was given first right to purchase the property, and the company accepted the Government's offer to sell it on May 16.