$639m Mount Nicholson sale sets new Asia record

Finance | Aiden He 10 Nov 2021

A flat at Hong Kong's affluent Peak district has become the most expensive in Asia per square foot after fetching a whopping HK$639.8 million in a tender sale.

The 4,544-sq-ft Mount Nicholson flat with three parking spaces, located at 8 Mount Nicholson Road on The Peak, sold for an eye-watering HK$639.8 million or an average HK$140,000 per sq ft, the highest price for residential property in Asia, while a 4,186-sq-ft flat beside it fetched a tidy HK$560.92 million, or HK$134,000 per sq ft.

The two homes, with a combined price of more than HK$1.2 billion, are said to have been purchased by the same group of people.

Co-developed by the Wharf (0004) and Nan Fung Group, and sold by Wheelock Properties, Mount Nicholson opened six tenders - including the two flats that were sold - on November 5.

The previous Asian record was set by CK Asset's (1113) 21 Borrett Road in Mid-Levels earlier this year, where a 3,378-sq-ft unit including three parking spaces sold for HK$459.4 million, or HK$136,000 per sq ft.

Meanwhile, Wheelock Properties said the third price list for Monaco One in Kai Tak, which involves 170 units, will be opened soon and the first round of sales of 341 units, or 70 percent of the total, will kick off on Saturday.

The units in the latest price list, which covers one-bedroom to three-bedroom units, will be 5 percent more expensive than the second one, and the developer had received more than 3,000 checks as of Monday, according to managing director Ricky Wong Kwong-yiu.

Elsewhere, The Yoho Hub atop Yuen Long Station is expected to receive pre-sale consent by the end of this month, the developer Sun Hung Kai Properties (0016) said.

The entire project is divided into two phases - the incoming one has 1,030 flats, and the other 936, it said, adding that the first phase will provide one-bedroom to four-bedroom units, ranging from around 300 sq ft to about 1,200 sq ft.

Its other project, Wetland Seasons Bay phase two in Tin Shui Wai, opened sales for 136 units last night. This round of sales was 17 times oversubscribed after receiving 2,450 checks.

Separately, a total of 134 parking spaces at Grand Central in Kwun Tong will be put up for sale on November 20 with prices starting from HK$2.65 million, developer Sino Land (0083) said yesterday.

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