International real estate firm Savills has completed the largest first-hand market transaction since the cancellation of stamp duty measures. The property, located at 46 Plantation Road, The Peak (the "Property"), currently comprises four three-storey detached houses with ground floor carports, and has been sold for HK$1.1 billion. The Property has a site area of approximately 21,470 square feet and a saleable area of approximately 16,986 square feet.
The independent detached houses have saleable areas ranging from 4,060 to 4,432 square feet. All houses have a layout of 4 en-suite bedrooms. Each house is equipped with a private swimming pool, an elevator, a rooftop, and parking spaces. The gardens for each unit range from 1,492 to 2,206 square feet. The Property is situated in the prestigious Peak district of Hong Kong, boasting an exceptionally prime location. Residents can enjoy panoramic views of the iconic Victoria Harbour, making this a truly rare and valuable offering.
Mr. Raymond Lee, Chief Executive Officer, Savills Greater China said,
"The sale price of this single lot has been adjusted down by around 50% compared to the market peak. In comparison to the transaction on Lugard Road that we facilitated earlier this year, the price has also been adjusted by approximately 11%. The price is considered very attractive. Furthermore, the buyer completed the transaction in cash, with a short completion period, which motivated the seller to part with the property.”
Mr. Thomas See, Senior Associate Director, Investment CEO Office, Savills Hong Kong stated, “The single lot situated at The Peak, offering breathtaking vistas of Victoria Harbour, is an exceptional and coveted asset. This property is of exceptional quality and is well-suited for intergenerational family asset allocation and wealth transfer. These factors motivated the buyers to promptly decide to acquire this desired property.”