The auction sale of Ventris Court at No. 15 Ventris Road, Hong Kong under the Land (Compulsory Sale for Redevelopment) Ordinance through Savills was held today morning. The Property was sold at the reserve price of HK$1,732 million to Wheelock Properties and Peterson Group.
The Property, with a registered site area of about 17,595 square feet (1,634.6 square metres), were completed in 1963. Currently erected on the Lots are two blocks of 9-storey residential buildings over carport.
The Property falls within an area zoned “Residential (Group B)6” under Hong Kong Planning Area No. 7 – Approved Wong Nai Chung Outline Zoning Plan No. S/H7/21 gazetted on 4 December 2020.
Mr. Ricky Wong, Managing Director of Wheelock Property commented that this was the first site acquisition this year, and the property will be redeveloped into a luxury residential project. Mr. Charles Chan, Managing Director of Savills Valuation and Professional Services expected the number of compulsory sale to be granted in 2022 will be less than that of last year, due to adjournment in court hearing under the pandemic.