Nicholas Tse's Central Hong Kong Property Finds a New Tenant

After a year of vacancy, Hong Kong actor Nicholas Tse has successfully leased out a prime retail space in Central Hong Kong. The ground-floor unit of his property at 28 Lyndhurst Terrace has been rented to a jewellery store for HK$60,000 (US$7,721) per month, marking a significant 40% reduction from the original asking price.

Property Details: The property spans 1,200 square feet, including 700 square feet on the ground floor and an additional 500 square feet in a mezzanine. It was originally listed at HK$100,000 but saw a reduction to HK$68,000 before settling at the current rate.

Historical Context: Previously, the space was rented to a wine retailer for HK$85,000 per month in 2018. Due to the impact of the Covid-19 pandemic, Tse offered a rent reduction, lowering the rent to HK$57,000 for six months. The tenant renewed the lease in 2021 at HK$80,000 but vacated the property when the lease ended early last year.

Investment Background: Tse acquired the property in 2012 for HK$91.2 million, reportedly as a gift from Emperor Group chairman Albert Yeung. In 2014, the unit commanded a monthly rent of HK$200,000.

About Nicholas Tse: Tse, 45, began his career as a singer in 1996 before transitioning to acting. He has starred in notable films such as 'Metade Fumaca,' 'New Police Story,' 'The Stool Pigeon,' 'Raging Fire,' and 'The Proud Twins.' Tse's personal life, including his marriage to actress Cecilia Cheung and subsequent romance with Faye Wong, has also garnered public attention.