Yuzhou Group (ASX: 01628) has announced that its wholly-owned indirect subsidiary, The Center (58) Limited, has entered into an agreement to sell a property in Hong Kong to the buyer, Xinyao Limited, for a consideration of HK$269 million.

The property comprises several units located on the 58th floor of The Center at 99 Queen's Road Central, Hong Kong. A portion of these premises is currently utilized by the group as office space, while the remaining section remains unoccupied.

It is anticipated that following the completion of the sale, the buyer will lease back the office portion to the seller.