International real estate firm Savills is appointed as the sole agent for the tender sale of No. 7 South Bay Close, Repulse Bay ("The Property"). The Property consists of two low-density residential blocks, offering a total of 26 residential apartments and 44 private car parking spaces with a total saleable area of approximately 45,533 square feet, each apartment size ranges from 1,561 to 2,859 square feet. The Property will be sold on an “as-is” basis partly with existing tenancies and partly with vacant possession, and the tender will be closed at 12:00 noon on 15 March, 2024 (Friday).
The Property is divided into Block A and B, with 13 apartments in each block. the first six levels comprise two typical 2-3 bedrooms apartments per floor, whereas the top floor hosts a special unit that comes with a private rooftop terrace. The high-zone units offer residents the opportunity to enjoy the scenic Repulse Bay seaview from their balconies, and each apartment is thoughtfully designed with a private lift lobby, ensuring utmost privacy for the residents. Moreover, The Property offers a wide range of amenities, including an outdoor swimming pool, children's pool, fitness room, and ample green recreational spaces, providing residents with a high-quality living experience.
Nestled at the heart of Repulse Bay, the Property occupies a coveted location embraced by nature, with Violet Hill at its back and the Repulse Bay Beach at its front. The Property also benefits from convenient access to a comprehensive network of renowned international schools, prestige private clubs, and large-scale shopping malls. The Hong Kong International School and The Pulse shopping mall are conveniently located within walking distance, the Hong Kong Golf Club and the Hong Kong Country Club are just within 10-minute drive away.
Mr. Raymond Wan, Chief Senior Director, Investment of Savills stated, "The property is currently 88% occupied, providing buyers with a stable rental income. Furthermore, with the government's ‘Top Talent Pass Scheme', it is expected that the leasing demand for traditional luxury residences will continue to increase, further driving the apartment rental. It is believed that this sale will attract various investors' attention.”
Mr. Claude Cheung, Associate Director, Hong Kong Capital Markets – Greater China of Savills commented, “It is extremely rare to find a whole block property for sale in Repulse Bay, as landlords have long preferred to retain ownership and lease units. Several high-end residential developments such as The Repulse Bay, The Lily and Fairmount Terrace have offered units “for rent only” for decades. The family owners of 7 South Bay Close are now highly motivated to sell, presenting a unique chance for investors to acquire this high-quality asset in the coveted Repulse Bay area”.