House at Mount Nicholson sold for $1.04 billion

A detached house at Mount Nicholson on the Peak, often dubbed the "King of Asia Tower,” sold for HK$1.04 billion. 

It's co-developed by Nan Fung Group and Wharf (0004).

Land Registry records show the house has a saleable area of ​​approximately 9,455 square feet, including a 6,188-sq-ft garden and a 1,530-sq-ft rooftop. 

It was sold last month for HK$1.039 billion, at a price of HK$109,889 per square foot.

The original owner, Chow Kwok Fai, who shares the same name as the chairman of the mainland Chinese company Eternal Asia Supply Chain Management, purchased the unit in 2016 for HK$830 million, realizing a profit of HK$209 million from the sale. 

The property value increased by 25 percent over 10 years.

It is understood that the new buyer is Golden Visions Holdings Limited, a company whose shareholders are overseas registered companies. 

However, some media, citing local agents, reported that the house had no prior listings for sale, suggesting this transaction may have been an internal transfer.