88 Grande Monaco flats get 750 checks

Business | Staff reporter 26 Feb 2021

Wheelock Properties received about 750 checks for 88 units at its Grande Monaco project in Kai Tak, with the batch on offer almost 7.5 times oversubscribed.

The 88 units, measuring between 345 sq ft and 961 sq ft, are offered at between HK$7.66 million and HK$25.01 million after discounts, or HK$21,829 to HK$27,063 per sq ft after discounts.

Meanwhile, CK Asset (1113) released 103 units in the seventh price list of Sea To Sky in Lohas Park at an average price of HK$18,225 per sq ft after discounts.

In other news, Hang Lung Properties (0101) said it has completed the acquisition of the American government's six-block residential property at Shouson Hill.

The Land Registry has been advised that the United States has complied with the diplomatic obligations by obtaining the written consent of the Chinese government in relation to the sale of the property, Hang Lung said in a filing to the stock exchange.

Hang Lung's HK$2.56 billion acquisition of the luxury villas - occupying a 94,796-sq-ft spread at 37 Shouson Hill Road in the Southern district - had been caught in the crossfire of the Sino-US rift, with the Land Registry failing to recognize the deal late last year after Beijing unexpectedly stepped in and said its approval was needed.

The Land Registry told Hang Lung Properties - which agreed to buy the luxury villas for HK$2.56 billion in September - that if the US consulate general intends to rent, purchase or sell any real-estate property in Hong Kong, the US government must make a written application to China at least 60 days before the transaction. The Land Registry also stated that the US consulate is not a commercial entity and the property not ordinary real estate. Washington had held the property since 1948.

Beijing has rarely interfered in other transactions of consulate properties in Hong Kong in the past.

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