Culture Landmark Investment (00674.HK) announced that it has entered into a provisional sale and purchase agreement for the disposal of the property at the third and fourth floors including flat roof, BCC Building, 25-31 Carnarvon Road, Kowloon at HK$101 million.

The company will lease bank the property from the purchaser from 1 May 2012 to 31 August 2013 at a monthly rent of HK$324,042.

The saleable floor area of the property is 9,874 sqf plus a flat roof area of about 1,626 sqf. The property had a book value of HK$90 million as at 31 March 2011.

The said agreement is expected to be completed by 30 April 2012.