International property consultancy Knight Frank has been appointed as an exclusive agent to dispose of No 74 Repulse Bay Road, Hong Kong by public tender. The tender closing date is fixed on 31 March 2014 (Monday) at 12:00 noon.
The property is located on Repulse Bay Road near the Repulse Bay Beach with a site area of approximately 15,050 sq ft. Currently, erected on the site is a 5-storey residential building with a total saleable area of approximately 14,583 sq ft. Locating in a highly desirable area, the property enjoys great convenience and magnificent view of the Repulse Bay nearby. It takes only 20 minutes’ drive to Central.
Henry Lam, Executive Director & Head of Investment at Knight Frank, says that market demand for luxury residential properties, especially en-bloc residential buildings, in the South Side has always been strong. This is proved by Tai Cheung Holdings’ acquisition of a government land in Repulse Bay at the price of nearly HK$40,000 per sq ft in 2012, and the recent sale of a luxury house in Shouson Peak at approximately HK$73,000 per saleable sq ft.
Henry Lam adds that the said property is located in one of the most sought-after residential areas in Hong Kong boasting great sea views and potential for redevelopment. He believes that it is a rare opportunity for investors, end-users and developers.