Real estate agency Savills has sold the most expensive residential property in the history of Hong Kong. The HK$5.1 billion sale of 75 Peak Road, also known as Ho Tuang Garden, occupies an area of 11,520 sqm in the peak.
Commenting on the record deal, Raymond Lee, Chief Executive Officer of Greater China, Savills, said: “It has been an honour to offer our professional services to the Ho Tung Family. This remarkable deal has demonstrated the importance of team work and the trust our client put in us.”
Patrick Chau, Deputy Senior Director, Residential Development and Investment, Savills, said, “The site is located at a secluded located with unobstructed sea view of the Southside. This sale is the best proof that this type of niche property is of enormous value and Savills has the capacity to realize the full value of such a unique asset.”
The site of the property is set to be re-developed by the buyer.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
