Prince Edward Road West Site Tender for sale
The sales of luxury homes in the New Territories and Kowloon last year surged by 40% year-on-year, reflecting the strong demand for luxury homes in the market. Recently, there has been a tender for the redevelopment of traditional luxury residential areas. Savills Davis announced that it was appointed as the sole agent by the owners to sell the 264, 264A and 264B of Prince Edward Road West and the sites of 266, 266A and 266B by way of tender. The tender was closed at 12 noon on the 29th of this month.
The land for sale is located at the junction of the West Road and the old road in the west of Prince Edward Road. It is a traditional luxury residential area. The site area is about 115,000 square feet, calculated according to the city plan’s maximum 5 times plot ratio. The maximum floor area can be built up to 57,000 square feet after land premium.
The site is located in a three-storey, 18-unit residence with a total area of approximately 16.19 million square feet. Among them, 264, 264A and 264B have been handed over, while 266, 266A and 266B have multiple tenants to rent, including 50 years of kindergarten.
Yuan Zhiguang, managing director and head of the investment department of Savills (Hong Kong), said that the area where the land was sold was in a prosperous past three years. Even in the case of mergers and acquisitions, a total of 1.2 billion yuan was recorded in the district. Among them, 292A to D, Prince Edward Road West, 294 to 296 Prince Edward Road West and 93 to 95A Waterloo Road.