Derelict cinema on scenic Hong Kong island up for auction with a US$1 million price tag
Peng Chau Cinema, an Instagrammable spot for tourists on an outlying Hong Kong island, will be auctioned off in mid-August at a valuation 30 per cent below estimation after almost 40 years of abandonment – a dormancy lengthy enough to fuel dark rumours among some residents. The former cinema is currently owned by Far East Hotels and Entertainment Limited, whose major shareholder is Derek Chiu,…
We haven't written up this one. SCMP Business has the full story — the link below goes straight to it.
