New bid to sell Borrett Road homes

CK Asset will restart sales at 21 Borrett Road in Mid-Levels via tender next Monday after the developer pocketed more than HK$2 billion in deposits from a collapsed deal to sell the luxury property project to a Singapore asset management firm this month.

The unit to be tendered is a four-bedroom, 2,169-square-foot flat. The tender will close on August 11.

CK Asset agreed to sell the project for HK$20.77 billion to Sino Suisse Capital last September, with Sino Suisse paying a 10 percent deposit. The disposal agreement involved 152 flats, 242 residential car park spaces and 31 motorcycle parking spaces.

The developer said the buyer failed to make the first-part payment of HK$1.04 billion and the accrued interest, leading to the deal being canceled and the deposit forfeited.

Sino Suisse provides investment advisory, portfolio management and wealth planning services to ultra-rich people and families, its website says.