International real estate firm Savills has been appointed as the sole agent for the sale of Nos. 68 – 70 Chung Hom Kok Road, Hong Kong ("The Property"). The Property has a site area of approximately 14,400 square feet and a maximum redevelopment gross floor area of 10,800 square feet (calculation based on the plot ratio of 0.75). It will be sold with existing lease.
The Property is in a prime location, situated in a coastal corner of Chung Hom Kok, offering expansive views facing Chung Hom Wan and Chung Hom Shan. Residents can enjoy the tranquillity of the bay, the beach, and the lush greenery. The Property is also near well-known institutions, such as Hong Kong International School and St. Stephen's College. Additionally, the living facilities are very comprehensive, with Stanley Plaza just about a 3-minute drive away, providing everything needed for daily life.
Mr. Raymond Wan, Chief Senior Director, Investment at Savills Hong Kong said, “Chung Hom Kok is a traditional luxury residential area, with one of the lowest densities in the Southern District, serving as the backyard of the region. The adjacent properties at 64 – 66 Chung Hom Kok Road are of similar size and were reportedly sold for HKD 900 million in 2021, with a unit price of approximately HKD 88,071. The Property currently for sale is listed at HKD 380 million, which represents a significant drop compared to transactions in recent years, making it a great opportunity for both users and investors to enter the market.”
Mr. David Ku, Senior Manager, Investment at Savills Hong Kong stated, “The Property is ideally located and can be redeveloped into a detached house of approximately 10,800 square feet or two large houses of about 5,000 square feet each, making it very suitable for buyers looking to rebuild for multi-generational living.”