Savills has been appointed the sole agent for Pokfulam Heights, 86A–D Pokfulam Road, Hong Kong. The tender closing date is 24 July 2013 (Wednesday) at 12:00 pm.
The site, spanning an area of 28,000 sq ft, has two four-storey residential towers (built in June 1960) with eight units each, a total of 16 units. The development also offers 16 parking spaces. The luxury residential area of Pokfulam is only a ten-minute drive from Central and residents will also be able to enjoy the convenience of the upcoming West Island MTR Line.
Patrick Chau, Director of Residential Development and Investment, Savills, said “The government will only launch two residential sites on Hong Kong Island during this financial year. If this Pokfulam site goes under redevelopment, houses can be built under the current plot ratio. With a limited supply of luxury residential sites and luxury houses in the market, the site at 86A–D Pokfulam Road has great potential.”
James Wong, Associate Director of Residential Development and Investment, Savills said, “Such a luxury site is rare in the market even though demand is robust. I expect developers to show a great deal of interest in this prime site which has a great potential for redevelopment. Meanwhile, the government is seriously considering lifting the Pokfulam moratorium, hence creating better prospects for this area.”