Fanling residential site sold at $22m discount

A residential site in Fanling which lies within the Northern Metropolis was sold to Ming Hing Waterworks for HK$77.3 million, lower than the asking price of HK$100 million, according to real estate service company Savills.

The site comprises portions of Lot1583 and Lot1584 in Demarcation District No 100, and it is located adjacent to luxury housing estate Miami Crescent on Fan Kam Road in Sheung Shui.

The land, categorized as Residential (Group C) according to town planning standards, covers approximately 56,119 square feet and is designated for low-rise, low-density projects, limited to three storeys with a maximum height of 9.5 meters and a site coverage not exceeding 15 percent.

With a maximum plot ratio of 0.4, the site will have a maximum gross floor area of about 22,447 sq ft.

Savills described it as a pleasant site located alongside a 140-meter-long road. Besides, the site offers convenient access to various parts of Yuen Long and the North District, with a two-minute drive to Fanling Golf Course and a 20-minute drive to Kam Tin and Yuen Long.

Moreover, the site's strategic positioning makes it an ideal fit for the proposed Northern Metropolis development, presenting significant opportunities within the new vibrant economic belt, says Savills.

Meanwhile, Baker Circle Greenwich in Hung Hom developed by Henderson Land Development (0012), released its sales brochure yesterday and is expected to unveil the first price list for at least 55 flats within the week.

Greenwich is the third phase of Baker Circle and the initial price list will focus on one-bedroom units, with studios and two-bedroom units also offered. Following the release of the list, show flats will be opened, and registration of interest is anticipated to commence by the end of the week.

The pricing for the units will be determined by considering Phase 2's pricing and market demand for each specific unit type.

Baker Circle Greenwich consists of a total of 278 apartments, with 154 of them being one-bedroom units, with areas ranging from 256 to 415 sq ft.

In other news, House 15 on Gough Hill Road has uploaded the sales brochure. The project features a detached house with six floors, offering an area of 18,078 sq ft, with six bedrooms. Shenzhen tycoon Chen Hongtian had bought it at HK$228,000 per sq ft for HK$2.1 billion in 2016.

And CK Asset (1113) has introduced The Coast Line, a new sea-view residential project in To Kwa Wan waterfront area, highlighting the upgraded kitchens in all 886 flats, ranging from studios to duplex units.

The total value of these kitchen appliances, based on retail prices, amounts to approximately HK$200 million for the entire project.