Three consortium members, including Cheung, have since divested at least three floors and part of a fourth floor in strata-title deals, according to local media reports.
When it comes to the pool of families and individuals with enough money to do strata-title deals, Hong Kong has few peers.
With Chinese demand for commercial space showing no signs of weakening and limited new supply, speculators deterred by government efforts to curb prices in the residential market continue to flock to strata-title deals.
In April, the 34th floor of 9 Queen's Road Central set a record square-foot price for a strata-title sale, surpassing the previous mark by 11%, according to Midland IC&I.
"Investors can see that there won't be land plots available for development in the near future, while rents in Central have been rising," said Adrian Tang, head of Kowloon markets and strata-title office sales at Jones Lang LaSalle.
It was widely held by the interviewees that the strata-title form of property ownership is a significant and fast evolving form of Australian hotel ownership.
A GM noted that while purchasers of strata-title hotel units are generally private individuals, they can also be corporations.
One of the main drivers for this situation was that there was increasing hotel ownership by property developers who refurbished "tired properties" and then sold them off as strata-title apartments because the residential market was stronger than the hotel market.
Strata-title ownership (accommodation rooms are individually owned under separate property titles).
Strata-title hotels and hotels owned by developers are statistically significantly younger than the remainder of the sample (p < .01).
It is also apparent that strata-title hotels tend to have low revenue relative to the remainder of the sample (p < .01).