Brilliant Circle acquires Wan Chai property for HKD472m

Brilliant Circle Holdings International (HKEX:1008) announced the acquisition of a property in Wan Chai, Hong Kong, for a total consideration of HKD388 million. The properties collectively represent approximately 86.67% of undivided shares in a commercial building known as "Kam Chung Building". The acquisition will be financed by the company’s internal resources. Vincorn Consulting and Appraisal Limited valued the properties at HKD472 million as of May 1, 2025. The board views the acquisition as offering potential upside through redevelopment, noting the company's ability to integrate these assets into its existing business, as well as the belief the acquisition price remains competitive. Upon completion of the refurbishment costs, the property is expected to generate recurring and stable rental income. Subject to the fulfillment of the conditions precedent, it is expected that completion of the Acquisition will take place on or before 31 July 2025.