Famous steakhouse may close down due to big hike in rent
The Yip family, who run Sammy's Kitchen, a 48-year-old restaurant in Western district on Hong Kong Island, has been told its rent will rise about 50%
Sky-high rents are being blamed for the potential closing down of Sammy’s Kitchen, a 48-year-old restaurant in Western district on Hong Kong Island.
Sammy’s Kitchen, with its giant Angus cattle neon sign was once a landmark in Western district on Hong Kong Island, recently received notice from the new landlord, who wants to increase the rent by at least 50% to HK$120,000 (US$15,373) per month.
Sammy Yip, the 86-year-old owner and founder, said they could not afford the new rent and are negotiating with the new landlord while looking for a new place where they can relocate, Apple Daily reported.
Sammy’s Kitchen was first found in Centre Street in Sai Wan in 1969 and relocated to Queen’s Road West in 1978. Yip has been paying HK$80,000 (US$10,249) to rent a 2,058 square-foot space.
However, the old landlord sold the premises for HK$43 million last month.
The restaurant is now being operated by Yip’s children with about ten employees.
Property agents have said that since the opening of the Mass Transit Railways (MTR)’s West Island Line, rent in Western district has risen significantly. Rent for a 2,000 square-foot shop could now reach at least HK$140,000 (US$17,936) in that area.