Finance

Island ECC church buying North Point’s historic Sunbeam Theatre for HK$750m


The Island Evangelical Community Church (Island ECC) says it is purchasing North Point’s historic Sunbeam Theatre for HK$750 million.

The historic Sunbeam Theatre
The historic Sunbeam Theatre in 2017. Photo: Wikicommons.

Last November, The Standard reported that the King’s Road property had been sold for a reported HK$1 billion, though the buyer was not revealed.

“We first looked at this space 8 years ago, but it was not for sale,” Senior Pastor Brett Hilliard wrote in an email to supporters on Sunday. “It was also out of our budget, at HK$1.2 billion. But while we were slowly saving our money these past 8 years, the property market changed significantly, and the theatre was put back on the market. We were able to make the purchase at a significantly lower price, and will be able to renovate and move in within the next 18 months, Lord willing.”

The Sunbeam Theatre – encompassing the ground floor to the sixth floor – along with the rooftop of Kiu Fai Mansion were put up for tender by Savills last August. Hilliard expects the sale to be completed this week.

The historic Sunbeam Theatre
The historic Sunbeam Theatre. Photo: Wikicommons.

The King’s Road theatre opened in 1972 and was famed for its Cantonese opera shows and Chinese traditional art performances.

Hilliard wrote that the theatre seats 1,000 people and has a balcony capable of an additional 300 seats: “Along with the theatre, we will also redevelop the 6 floors surrounding it, which will provide us with more space than we currently have, and will also provide fantastic opportunities to bless the community with meaningful retail space, some limited housing, and great space for ongoing ministry 24/7.”

He added that they have secured bank financing to supplement their savings: “The fact that the church will actually own this property (as opposed to a long-term lease) also makes it advantageous for our long-term health and ministry to the city.”

When asked if any of the cultural history of the building would be persevered, a spokesperson for the church told HKFP on Monday that they “look forward to working with the local community to honour its cultural heritage.” They added that there were no plans to evict residents.

YouTube video

The theatre hit the international headlines in 2019 when it staged a Cantonese opera satirising the Donald Trump presidency.


Update 10:30am, 5.2.24: This piece has been updated to reflect the final sale price.

Support HKFP  |  Policies & Ethics  |  Error/typo?  |  Contact Us  |  Newsletter  | Transparency & Annual Report | Apps

Help safeguard press freedom & keep HKFP free for all readers by supporting our team

contribute to hkfp methods
tote bag support



READ SOURCE

Business Asia
the authorBusiness Asia

Leave a Reply