Double Coast III sky-level premium unit is expected to sell via tender this Sunday

Double Coast III in Kai Tak, a joint venture between Wheelock Properties, Henderson Land Development (0012), China Overseas Land & Investment (0688), and New World Development (0017), has released its sky-level premium unit on Tuesday, which will be available for sale by tender as soon as this Sunday.

The special unit is 1,373 square feet, featuring four bedrooms with two en-suite bathrooms, along with an 854-sq-ft private rooftop and a 415-sq-ft terrace. It has opened viewing for prospective buyers on Tuesday, and the transaction price will reference the special unit in the Miami Quay series in the same area. 

Ricky Wong Kwong-yiu, vice chairman and managing director of Wheelock Properties, said he is confident that the new unit can set a new record for the project. Adding that since the beginning of this year, Double Coast has sold 47 units, cashing out HK$370 million. 

The entire project has sold 359 units, generating more than HK$2.7 billion. He said the property price will increase moderately, and the project will reduce incentives accordingly. The property has recently been updated, and the cash discount has been slightly reduced by 1 percent.

Wong said the group's Kai Tak Park Peninsula project sales were optimum, with a total of 1,658 units sold, of which The Knightsbridge accounted for 246 units, cashing out HK$10.2 billion. Kai Tak Marina accounted for 696 units, cashing out HK$5.7 billion. Victoria Voyage also recorded 188 deals, cashing out over HK$3.3 billion. Miami Quay series sold 169 units, generating HK$2.1 billion. He added that last month recorded 26 deals of more than HK$100 million, reflecting high demand for special units.

Gloria Leung