LP10 gears for launch ahead of consent

Business | Winnie Lee and Victor Zhong 25 Nov 2020

Nan Fung Group and MTR Corporation (0066) is naming Lohas Park Phase 10 project LP10, offering 893 units in total.

This is the second residential project for Nan Fung in the same district after LP6. The project is waiting presales consent and may launch soon.

Meanwhile, Kaisa Group (1638) and Choice Holdings will launch sales of The Concerto on 203 Yee Kuk Street in Cheung Sha Wan next month, offering 95 flats ranging from 189 to 294 square feet. The developers said the price list will be uploaded and show flats will open by next week at the earliest.

Chinachem's project Mount Anderson on Anderson Road in Kwun Tong is applying for presale consent, Donald Choi, executive director and chief executive said.

Meanwhile, two buyers for flats in Malibu in Lohas Park forfeited a total of HK$4.52 million in deposits after cancelling purchases of two 1,087-sq-ft flats.

Wuyi Group applied for compulsory sales of a six-story building in Wong Tai Sin, with a valuation of around HK$80 million.

The site area of the building is 1,800 sq ft, including two shops and 11 residential units.

In other deals, singer Hins Cheung King-hin bought four units in Chai Wan Industrial City at HK$27.5 million while the Lofter Group and Alphalex Capital Management bought two blocks of old buildings in Price Edward at HK$347 million through JLL.

JLL said the vacancy rate of grade A office rose to 8.6 percent in end-October.

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