Sunday, June 26, 2022
Martin Hennecke

NWD looks to expand Causeway Bay holdings
<p>New World Development (0017) has filed a compulsory sale application to acquire several properties in Causeway Bay which have a combined market value of HK$4.5 billion.</p><p>The properties, which include 54-76 Percival Street and Happy Mansion at 5-27 Lee Garden Road, have a site area of 19,831 square feet.</p><p>The developer has more than 80 percent ownership of the properties and the maximum gross floor area would be nearly 300,000 sq ft, if they are rebuilt at a plot ratio of 15.</p><p>The companies applying for the compulsory sale are Kerryford Holdings and Time Pilot, whose registered addresses are New World Tower, the headquarters of NWD.</p><p>In the primary market, Sun Hung Kai Properties (0016) has unveiled the first price list for Silicon Hill in Tai Po, offering 116 homes at an average per-square-foot price of HK$17,498 after discounts, nearly 10 percent lower than some second-hand flats in the same area.</p><p>The first batch includes one-bedroom to three-bedroom units, and is priced from HK$5.49 million to HK$12.92 million after discounts, or from HK$16,461 to HK$19,929 per sq ft.</p><p>Three show flats are available for viewing from today and the sales registration will start tomorrow, the developer said, adding that the sales may take place this month.</p><p>The project offers studio to three-bedroom units with spaces ranging from 217 sq ft to 851 sq ft. Flats with two bedrooms account for more than half, SHKP said.</p><p>In Cheung Sha Wan, Seaside Sonata has put the remaining 38 three-bedroom units up for sale with the cheapest ones at HK$12.38 million after discounts.</p><p>The developer CK Asset (1113) said the flats, which range from 771 sq ft to 786 sq ft, are worth HK$570 million and it has raked in about HK$8.3 billion after selling 838 homes in the project.</p><p>In Quarry Bay, eight studio units from 221 sq to 227 sq ft at The Holborn will be put on sale with prices from HK$5.74 million to HK$6.13 million after discounts, developer Henderson Land Development (0012) said.</p><p>Meanwhile, a luxury residential property at No 2 Stubbs Road in Mid-Levels East worth about HK$1 billion is being tendered, says real-estate service firm JLL.</p><p>The 62-year-old property provides 13 residential flats with a total salable area of 15,224 sq ft, and the tender will close on July 14, it added.</p>

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