Tony Leung Reportedly Lost S$340K After His 3 Shop Lots Were Sold In A Compulsory Auction

However, as the shops are located in a building that’s over 50 years old, under Hongkong law, the majority owner can apply to sell the land in a compulsory auction. This will then forcibly buy out the minority owners. The building will then be demolished and the land used for redevelopment purposes.

The majority owner, who is reported to be a financial company, was successful in their application for a compulsory auction this year.

In April, it was reported that the entire building had been sold, with ownership of the shops changing from Tony to a property development company.

The three shops, which measure 500 sq ft each, were sold for a total of HK$13.5mil (S$2.31mil), which meant that Tony lost HK$2mil (S$340K).

However, it appears that this might have been a “best case scenario” kinda situation for the actor. Earlier, it was reported that the three shops had been valued at HK$8.39mil (S$1.5mil), which meant that the actor was looking at a loss of HK$7.1mil (S$1.2mil).

Guess losing S$340K doesn't look that bad now, right?

Photos: Google Street View, TPG