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Kimbee Chan seeks $600m for Peak pad

Billionaire Joseph Lau Luen-hung's wife, Kimbee Chan Hoi-wan, was said to be asking HK$600 million for a 4,299-square-feet house at Gough Hill Residences on the Peak, marking a per-sq-ft price of around HK$139,600.

The average price per sq ft more than doubled compared to Lau's buying price of HK$180 million 13 years ago, and is also 50 percent higher than Wheelock Properties' new luxury property on 77/79 Peak Road nearby.

The property for sale was purchased by Lau in January 2009 from Parklane Hotel's Chan family, who then gave it to his wife as a gift.

The sale is another attempt by Kimbee Chan, chief executive of Chinese Estate (0127), to cash in by selling holdings. The backer of embattled developer China Evergrande (3333) offloaded a total of 435 million Evergrande shares in two weeks, taking in at least HK$987 million in August based on the lowest closing price during the period, data of Central Clearing and Settlement System showed.

To that end, Lau and Chan's stake in Evergrande slid to 4.68 percent, or 620 million shares, on September 27 from 1.06 billion shares on September 10, lower than the 5 percent disclosure threshold. Therefore their offloading afterward will no longer need to be disclosed.

This came before Chan's proposal to take Chinese Estate private by offering minority shareholders at HK$4 apiece, according to the Hong Kong developer's announcement. The price marked a 38 percent premium to its last traded price as the offer was announced.

However, the offer price came in at a nearly 69.2 percent discount to the company's net asset value per share attributable to shareholders of HK$12.99, as shown by the interim result. The major shareholder said the cancellation price will not be increased.

In other news, Chinese Estates (0127) said it sold senior bonds issued by Kaisa Group (1638) and will record a realized loss of approximately HK$225.89 million. Shares of Kaisa rose 3.3 percent to HK$1.70 yesterday.

(The Standard)


Price of parking spaces at Hong Kong’s Lohas Park soar a record 23 per cent as Wheelock sells last 87 bays at Malibu flats

Wheelock Properties released the final 87 parking lots at Malibu for up to HK$2.46 million each, an increase of 23 per cent from two years ago

Malibu, comprising 1,600 flats in six tower blocks, only has 263 parking bays between them, or one spot for every six flats

The price of car parking spaces at the Lohas Park residential enclave in Hong Kong’s Tseung Kwan O district has risen to a record high, as a chronic shortage in the area forced vehicle owners to bid up prices.

Wheelock Properties, the developer of the Malibu apartments, released the final 87 parking lots in the project at a price range of between HK$2.2 million and up to HK$2.46 million (US$316,396) each, an increase of as much as 23 per cent from two years ago. Applications to bid for the lots closed yesterday.

Hong Kong is well served by networks of subway trains, surface trams and buses that connect all but the most exclusive residential enclaves with the main business districts, a convenience that has reduced the need to own cars, with the local population owning fewer than 80 vehicles for every 1,000 people, at the bottom 40 per cent of global rankings.

Still, the supply of car parking areas had lagged far behind the growth in vehicle ownership, as developers built homes with higher profit margins at the expense of parking bays. Malibu, comprising 1,600 flats in six tower blocks, only has 263 parking bays between them, or one spot for every six flats.

“Monthly rent increased to HK$5,000 and still it’s not easy to find one,” property agent said.

The soaring price of space at Malibu matches rising costs at other developments in Lohas Park.

A parking space at the 10-year-old Le Prestige, built by Cheung Kong and now renamed CK Asset Holdings, sold earlier this month for HK$2.3 million, setting a record for the neighbourhood.

“Sales of homes and investment properties have been brisk as the overall economy improves after the Covid-19 pandemic was brought under control,” agent said. “Parking lots are a popular asset class among investors as they involve smaller lump sum amounts.”

Wheelock is offering the Malibu spots to residents and property owners in other developments at Lohas Park: The Capitol, Le Prestige, Hemera, Wings At Sea and LP6, said Wheelock’s spokesman. Having more bids for the limited number of lots will only send prices soaring, agents said.

“It is likely the highest price for a parking bay in Lohas Park once the deal is done,” another agent said.

Sales of residential parking bays in the first nine months of this year jumped 83 per cent to 7,773, according to data from property agency.

The exorbitant cost of parking bays match residential real estate prices in Hong Kong, the most expensive urban centre to live and work in for more than 10 consecutive years.

In May, a spot sold for a world record of HK$11.9 million at the exclusive Mount Nicholson development on The Peak.

The removal of Hong Kong’s double stamp duty had benefited the sector as well, agent said.

The double tariff – known as the Doubled Ad Valorem Stamp Duty (DSD) – was introduced in February 2013 with the aim of tackling speculative activity in the market. It doubled or increased stamp duty rates across the board. The double levy was rolled back on November 25 last year, when duties reverted to their original rates.

(South China Morning Post)


中環中心兩層13億售 董建華家族成員承接


由「小巴大王」馬亞木持有的中環中心20樓早前以約6.3億易手,買家身分終曝光。據公司註冊處資料顯示,持有該樓面的公司THE CENTER (20) LIMITED,註冊董事最新由董立新及姚爾欣出任,前者為董建華幼子,代表項目由董建華家族承接。



此外,由「磁帶大王」陳秉志持有的中環中心25樓早前亦以6.74億易手,據土地註冊處資料顯示,上址買家TOPWORLD UNION ENTERPRISE LIMITED,註冊董事董立筠、董立均及董立新,均為董建華子女,以全層面積24980方呎計,呎價2.7萬。
















中環巨鋪月租30萬跌70% 交吉一年始租出零售商取代時裝店




據土地註冊處資料顯示,上址業主於2018年以4.448億購入,以公司名義RICH THREE INVESTMENT LIMITED持有,註冊董事包括黎元淑等人,為幸福醫藥家族成員,租戶為PTBZ EAST LIMITED,租期為今年11月至2024年11月,並可選擇再續約3年,以最新租金計,租金回報低見0.8厘。






















油麻地CASA酒店全幢 6.5億洽至尾聲

料外資基金承接 擬發展共居項目



地盤面積3103 共162間房


據悉,業主早於2007年以1.59億元購入物業,其後自行營運酒店。據了解,2013年該品牌亦租用比鄰彌敦道483至485A號,開設Casa Deluxe酒店,提供87間房。惟2019年下半年社會運動爆發,遊客人數減少,加上去年1月出現疫情,該酒店於去年中結業。


酒店生意淡 投資者轉型收租


投資市況仍旺,近期不少全幢物業獲承接,如日前英皇 (00163) 以5.85億元,沽出葵涌Toppy Tower全幢工廈,新買家為安樂工程 (01977) 。