400 new homes to go on sale

Finance | Winnie Lee 14 Jan 2021

As many as 400 new homes will be available for sale soon with the majority of them from the Monaco tower in Kai Tak and the LP 10 tower in Lohas Park.

Wheelock Properties will launch first-round sales for Monaco on Sunday, involving 145 units. With 2,200 checks received, the 145 homes are 14 times oversubscribed.

The 145 units ranged from 280 sq ft to 762 sq ft and Wheelock expects to cash in HK$1.6-2 billion from the first-round sales.

Monaco released the third price list, with an average selling price of HK$24,802 per square foot after discounts. It was 9.4 percent higher than the first batch average selling price of HK$22,669 per sq ft.

Meanwhile, Nan Fung Group released the first price list of LP10 in Lohas Park, involving 179 units, with an average selling price of HK$15,888 per sq ft, 30 percent cheaper than the first batch of Monaco.

The flats range from two to four bedrooms, and from 484 sq ft to 1,205 sq ft.

Elsewhere, Vanke Hong Kong was set to launch 74 home at The Campton in Cheung Sha Wan on Saturday, with prices ranging from HK$17,737 to HK$21,740 per sq ft. The subscription registration ends tomorrow.

Meanwhile, an industrial site with a 216,000-sq-ft gross floor area in Fanling was sold for HK$813 million to Temasek's Mapletree.

In another deal, Henderson Land (0012) bought the 12 old buildings on Gillies South Road in Hung Hom at HK$2.045 billion through a compulsory sale. The total site area is 20,400 sq ft.

Centaline Property expects the second-hand luxury property in the Southern District to rise 10-15 percent this year but rents to fall 15-20 percent.

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