Topkids Anglo-Chinese Kindergarten International Play School, which has been in operation for 21 years in Hong Kong’s Tin Shui Wai district, has lost a bid to renew its lease despite offering to raise the monthly rent to HK$465,000 (US$59,920) from HK$265,000.
The kindergarten will cease to operate from its existing campus on August 31, with some 522 students being affected, according to a Mingpao Daily News report on Tuesday.
Landlord Fortune REIT, which is 28 percent owned by Cheung Kong Holdings Ltd (00001.HK), said it has conducted negotiations with the tenants and informed them of the decision as early as it could. Private kindergarten operator Zenith has reportedly won the new tender.
The Education Bureau has revealed that around 40 parents of Topkids students have approached the authority for assistance so far. It said it will closely monitor the case.
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