Hong Kong Baptist Church to buy former site of priced-out girls' school

After surging rent at a prime Mid-Levels location forced a secondary school to move out just a few months ago, the building's owner has found a buyer: nearby Hong Kong Baptist Church.

The church, at 50 Caine Road, plans to buy the eight-storey building at number 97, which it wants to turn into a family service centre, multifunctional hall and offices, with recreational space on the roof, according to the December issue of its newsletter.

While the purchase price has not been made public, the church said it needed HK$340 million to buy and renovate the building.

The deal came to light five months after St Margaret's Girls' College moved out in June, saying it could not afford to renew its lease at an estimated monthly rent of more than HK$400,000.

The Education Bureau allowed the direct subsidy school to use a vacant campus in Sha Tin for five years, on the condition that it stop enrolling new students. The school may have to close if it cannot secure a permanent campus.

In a donation form circulated to parishioners since last week, the church said it needed the HK$340 million by the end of July. The sum includes the acquisition price, stamp duty and renovation cost. It is unclear whether any purchase agreement has been signed yet.