A Michelin-recommended restaurant has been forced to up sticks and move after its new-found recognition gave rise to a stellar 120 percent rent hike.
Forty-year-old Kai Kai Dessert, located on Parkes Sreet, Jordan, is known for traditional sweets such as tong yuen and sweet walnut soup. The neighbourhood institution was featured last month in the Michelin Guide 2016’s street food section.
Restaurant management recently posted a notice thanking everyone for their support and saying that they were honoured to have earned their coveted Michelin star.
The shop’s owner, who inherited the family business from his father, said that he had received a notice that their monthly rent has been bumped from HK$100,000 to HK$220,000, Ming Pao reported. It would have been difficult to carry on, he said, if it were not for a regular customer who agreed to let out his space on nearby Ning Po Street for $90,000 monthly—lower than the property’s market value.
Kai Kai Dessert will be reopening at its new location in March.
