Knight Frank and CBRE have been appointed as the joint sole agents for the sale of Point Breeze, No 54 Sassoon Road, Pok Fu Lam (“the Property”), through Public Tender. The Property is to be sold on “as-is” basis with vacant possession. The tender closing date is 23 October 2018 (Tuesday) at 12 noon.
Nestled on the south-western end of Sassoon Road in Pok Fu Lam, the Property has a site area of 29,519 sq ft or thereabouts with a maximum plot ratio of 0.75. Residing in one of the most prestigious neighbourhoods, the Property is also located within one of the best school networks including the ISF Academy, West Island School and the University of Hong Kong – Li Ka Shing Faculty of Medicine. The Property is well served by roads and public transportation. Just minutes’ drive to Cyberport, 11-minute drive to Kennedy Town, which has all convenience of supermarkets, shops and restaurants and a 15-minute drive to Central CBD.
Henry Lam, Executive Director and Head of Capital Markets, Knight Frank said, “The private residential site sales market has always been sought after as we expect more record breaking prices this year. 39 Shouson Hill Road was transacted in July at an accommodation value of HK$ 85,927 per sq ft, circa HK$ 5.93 billion and a few weeks later, 6 Goldsmith Road was sold at an accommodation value of HK$ 110,000 per sq ft. Considering the Property’s high redevelopment potential, ultra-rich buyer’s preference on super large houses and its breathtaking coastal location, we expect there will be keen competition to acquire this rare site at the heart of Hong Kong Island”.
Stanley Wong, Executive Director, Capital Markets, CBRE Hong Kong said, “54 Sassoon Road represents the true definition of luxury. Submerged into a greenery environment with high degree of privacy, the Property also features breathtaking unobstructed sea views and abundant open space. Upon redevelopment, the plot ratio can be fully exploited into a signature landmark property providing over 22,000 sq ft. of luxurious living space. It is a one of a kind on the market and we believe it will generate overwhelming interest.”