After a dessert restaurant in Hong Kong was recommended by the Michelin guide, it saw an unbelievable 120% rent rise and was forced to leave its premises and move to cheaper and greener pastures.
Kai Kai Dessert is a 40 year-old Hong Kong institution that was featured last month in the Michelin Guide 2016’s street food section. It’s famed for its tong yuen and sweet walnut soup, both Hong Kong specialties. Soon after the restaurant received its honorary mention its owner received a notice that their rent had been bumped from HK$100,000 to HK$220,000. Kai Kai has been in the family for over 4o years, and is a well-known spot in Hong Kong.
A local businessman and customer to the shop hearing of their dilemma, offered Kai Kai a space not far from its present location on Parks Street for a reduced HK$90,000. Kai Kai has put up a sign thanking its customers for their loyalty and support, and will be reopening at its new premises on Ning Po Street in March.
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