Hong Kong Derby
After the north wing burned down in 1929, the original part of the hotel, especially the large Gripps Restaurant, continued to be popular with the public, but the hotel eventually closed in 1952. The hotel building was bought by the owner of the 1949 Hong Kong Derby Champion and lead investor of a company which was later renamed Central Development Limited. Extensive renovation was done, but the part which once housed the popular Gripps Restaurant was torn down. In 1958, Central Building opened as a modern retail and office building, as it has remained at the present day.