Chu Kong Shipping Enterprises' (Group) (HKG:0560) subsidiary Chu Kong Cargo Terminal (Beicun) agreed to lease certain premises in Foshan City from Guangdong Nanhai Foodstuffs Import & Export for a term of 20 years, a Friday Hong Kong bourse filing said.
The premises are located in Huangqi Liulian Village, Dali Town, Nanhai District, Foshan City and has a land area of 18,953.81 square meters. Premises include a 549.6 square meters staff canteen, other buildings, structures and equipment.
The term starts on Jan. 1, 2025 and expires on Dec. 31, 2044. The lessee plans to use the premises as its principal place of business in mainland China, including as a logistics area for terminal operation, wharf handling, cargo handling, warehousing, and as an office among other uses.
The annual rent ranges between 3.50 million yuan for the first three years at the lowest to 4.53 million yuan at the highest for the last four years of the lease term.
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