Friday, November 27, 2015   

Apex auction kinks

Tuesday, March 05, 2013

The first auction of a unit at the controversial Apex Horizon Hotel may not proceed as planned.

AA Property Auctioneers is seeking legal advice on whether a two-bedroom unit on the 36th floor - which the owner wants sold for at least HK$3.08 million - can go under the hammer.

"The sale is not a real property transaction," said Tsang Kit-chun, managing director of AA Property. He added the auction may involve just occupancy rights earlier purchased from developer Cheung Kong Holdings (0001).

So far, over 130 rooms at the Kwai Chung property have been put on the secondary market. Ranging from 656 sq ft to 909 sq ft, the suites are being sold for HK$3.05 million to HK$6 million.


Tsang will decide whether to conduct the auction by noon today.

Cheung Kong managing director and vice chairman Victor Li Tzar-kuoi reiterated yesterday that the group has not misled buyers and everything it has done is legal. KAREN CHIU

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