International real estate firm Savills has been appointed as the sole agent by the receiver for the sale of 188 Victoria Road, Pok Fu Lam ("The Property"). The Property has a site area of approximately 15,240 square feet and a saleable area of about 6,083 square feet. It will be sold on an “as-is” basis with vacant possession. The Expression of Interest closing date is scheduled for noon on July 8, 2025 (Tuesday).
The Property comprises a three-storey detached house with a basement, featuring a private driveway for direct access to the house, ensuring a high level of privacy. Along with panoramic sea views, it includes a private garden of approximately 18,000 square feet (including a 9,365 square feet private garden under a government short term tenancy). The Property boasts a sea-facing frontage of over 70 meters, ensuring superb vistas and a tranquil, secluded environment. Its prime location provides swift access to Central’s core business district—just a 12-minute drive via Victoria Road. For families, the neighbourhood is home to prestigious schools, including The University of Hong Kong and St. Clare’s Girls’ School, both reachable within a 2-6-minute drive, offering premium educational opportunities.
Mr. Raymond Wan, Chief Senior Director of Investment at Savills Hong Kongsaid, “The Property is a rare sea-view residential single lot in the area. The owner has occupied it since the 1980s, and it is believed that this sale will attract significant market attention. Buyers can choose to move in immediately or rebuild. According to the Outline Zoning Plan, the maximum gross floor area after reconstruction could exceed 18,000 square feet (subject to approval from relevant government departments and may involve land premiums), indicating substantial development potential. The latest valuation of the Property is HKD 430 million. In comparison, recent transactions at 50-52 Sassoon Road were at an accommodation value of HKD 37,600 per square foot, making this sale highly cost-effective. We anticipate that the Property will generate strong interest from both investors and end-users”