Star GEM linked to new purchase in Leon Court

Melody Chen

Hong Kong singer Gloria Tang Tsz-kei has reportedly purchased a special unit in Leon Court, while a home in Repulse Bay changed hands for HK$480 million.

Tang, better known as GEM, is said to have bought a unit in Leon Court on Wong Nai Chung Gap Road for around HK$85 million - or at an average price just above HK$17,000 per square foot, nearly 50 percent below the building's peak prices.

Two units at Leon Court, with a combined area of about 4,960 square feet, were sold for HK$42.5 million each, at a transaction price of HK$17,137 per square foot, according to a filing.

The previous owner purchased two units years ago and converted them into a duplex. The new buyer is reportedly Tang Sze-wing, the same as Tang's birth name.

Tang's popularity surged following her appearance on mainland talent show I Am A Singer. She topped the list of the highest-grossing concerts in the mainland last year, with over three million attendees, with revenue exceeding 2.5 billion yuan (HK$2.66 billion), according to a mainland platform.

Tang acquired two units at Serenade Cove in Tsuen Wan 10 years ago and transformed them into a duplex.

Also in Tsuen Wan, Tang purchased a four-bedroom unit at The Pavilia Bay in 2017 for HK$22.39 million.

No 33 Island Road in Repulse Bay, a five-bedroom house with a saleable area of 5,039 sq ft and a garden of about 2,247 sq ft, recently changed hands for HK$480 million, according to Land Registry data.

The house was previously owned by Liang Guoxing, chairman of Silver Base, a major distributor of mainland Wuliangye liquor, according to local agents. It was initially listed for HK$600 million but was sold for around HK$120 million less.

The previous owner acquired the property for HK$168 million in 2005, resulting in a paper gain of HK$312 million in the latest sale.

The deal was made through Viking Sky Limited.

The HK$480 million transaction translates to around HK$95,000 per sq ft, making it the second-priciest deal in the estate.

The largest transaction in the estate was for House No 5, which sold for HK$505 million to Noelle Kwok Hew-yin, daughter of former Sun Hung Kai Properties joint chairman Thomas Kwok Ping-kwong.

In 2009, Tencent chairman Pony Ma Huateng purchased a house at 13 Big Wave Bay Road in Shek O for HK$480 million.

Its latest rental value rose 2.8 percent to HK$13.17 million.

That makes it the most expensive single home in Hong Kong.

In 2015, Alibaba founder Jack Ma Yun spent HK$1.5 billion acquiring a home on 22 Barker Road at The Peak.

melody.chen@singtaonewscorp.com