The Hour Glass to acquire more units in Tong Building for $68.5m

The company will acquire units #09-01 to #09-04 and #10-01 to #10-04.

The Hour Glass has exercised its option to purchase granted to it by See Hoy Chan Realty and See Hoy Chan Land to acquire units in Tong Building for $68.5m.

The company will acquire units #09-01 to #09-04 and #10-01 to #10-04 within the building.

The freehold premium-grade office property has a strata area of 6,867 sq ft on each level. It is also close to The Hour Glass’ corporate offices located in the same building.

The acquisition is part of the company’s strategy to invest in high-quality assets to complement its commercial properties in the region and have potential for its own use.

The Hour Glass has paid a deposit of $3.425m with the remaining balance to be paid in December upon completion of the purchase.