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News from Knight Frank Hong Kong

Knight Frank and CBRE appointed as joint sole agents for Yuk Leen Villa in Sai Kung

29 January 2018
The Property has a site area of 15,000 sq ft, it is a 2-storey detached house with saleable area of 3,198 sq ft. approx. and a maximum permitted GFA of 7,500 sq ft approx. Situated in a secluded location where it is accessible by a separate road branching off from Clear Water Bay Road in Sai Kung, which is also known as the “Hong Kong’s back garden”. It is opposite to Mount Pavilia, a recently launched low-rise residential development by New World Development. Developments in the locality comprise of low density deluxe residential properties and single-lot detached houses. The Hong Kong University of Science and Technology (HKUST), ESF Clearwater Bay School and TVB House are in close proximity.
 
With the glut of capital and the resultant excess of money in the real estate market, there are numerous record high transactions noted in the residential sector. According to the Land Registry record, house 1 and house 2 of 20&22 Pik Sha Road, a recent development by Chinachem Group in Sai Kung, were transacted in 2017 with a saleable unit rate of approximately HK$36,000 and HK$35,000 per sq ft respectively. Another notable transaction in second hand market, House 2 of Casa Loma, 11 Silver Cape Road, Sai Kung, was sold at a saleable unit rate of approximately HK$48,000 per sq ft. With a market expectation that the luxury residential property prices will continue to rise due to limited supply and growing demand of landed residential houses in prime locations, it is a rare opportunity to acquire this sought-after, with high redevelopment value and prestigious residential site in Sai Kung.  
For further information, please contact:
 
Knight Frank:
 
Steve Lam   
Director, Capital Markets 
EAA (Individual) Lic No: E-008214
Tel: +852 2846 7476
Fax: +852 2522 7396
Email: steve.lam@hk.knightfrank.com
 
Sharon Hung
Assistant Manager, Capital Markets 
EAA (Individual) Lic No: E-383809
Tel: +852 2846 4824
Fax: +852 2522 7363
Email: sharon.hung@hk.knightfrank.com
 
CBRE:
 
Andy Wong
Senior Director, Capital Markets 
EAA (Individual) Lic No: E-110900
Tel: +852 2820 1426   
Fax: +852 2877 2423
Email: andy.wong@cbre.com.hk
 
Joseph Wong
Assistant Manager, Capital Markets 
EAA (Individual) Lic No: E-368256
Tel: +852 2820 8102 
Fax: +852 2877 2423 
Email: joseph.wong@cbre.com.hk
 
 
 
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