Business Intelligence on Retailing, Franchising, and Consumerism in China

Shirble Department Store To Acquire Two Properties For CNY611 Million

Shenzhen-based department store operator Shirble will invest CNY611 million to purchase two properties in Shenzhen and Changsha.

Shirble will pay CNY419 million for the property in Shenzhen and it will pay CNY192 million for the one in Changsha. The related parties signed property transfer contract on March 14, 2017.

The construction area of the Shenzhen property is about one million square meters and the construction area of the Changsha property is about 1.629 million square meters.

Shenzhen Jingtian store is one of the most valuable department stores of Shirble and it contributed the most to Shirble in the past five years. At present, the remaining lease term of this store property is less than eight years. Meanwhile, the remaining lease term of the Changsha store property is less than 12 years.

The previous owner planned to sell the two properties. To avoid the negative impact brought by the change of property owners, Shirble Group decided to buy the properties itself.

Be the first to comment on "Shirble Department Store To Acquire Two Properties For CNY611 Million"

Leave a comment

Your email address will not be published.


  Other China News

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco