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Government sells last portion of Citibank Plaza to Champion REIT
HK Government, 30-May-2013
The Government, via Inland Revenue, should also collect 8.5% stamp duty (if its proposed Double Stamp Duty law is passed), or $183.2m. On the Government's figures, the GFA is 6161 sq.m. or about 66,317 sq ft, so the price is $32,500/gsf, or $35,262 including double stamp duty. Champion REIT now owns 100% of Citibank Plaza until 30-Jun-2047.