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5/12 News Roundup: Record Bids On Way for Site on Murray Road, Novum West Rolled Out First Featured Unit
Hong Kong Property | May 12, 2017
Record Bids On Way for Site on Murray Road
Today is the last day for the commercial site in Murray Road, Central to receive bids from interested parties. Several developers – both local and mainland companies – expressed their interest in bidding the site. Wheelock will be submitting bids for sites on Murray Road and in Kai Tak, company vice chairman Stewart Leung Chi-kin said yesterday. On aggressive bidding for sites in Hong Kong by mainland developers, Leung said he welcomes more competition and is not worried that the trend will affect Wheelock performances. Sun Hung Kai and some Chinese developers are also interested in the sites, while those Chinese developers said they would place the bid with ‘insanity price’. Market analysts believe that the site would value HK$20 billion, or HK$43,000 to HK$48,000 per square foot, setting a new record in the city.
Road King to Bid a new Kai Tak Site
The residential site in Area 1K Site 1 of Kai Tak development district is also receiving bids until today. Some local and Chinese developers expressed their interest on this 104,600-square-foot land, though the sea-view is worse than the other sites in the district. Road King, the Chinese company which won another residential site in Wong Chuk Hang Station this February, announced yesterday that they would partner with Shenzhen Investment Limited to bid the site. Analysts believe that the cost of the site will reach HK$6.33 billion to HK$7.19 billion, or HK$11,000 to HK$12,500 per square foot.
Novum West Rolled Out First Featured Unit
In the first hand market, developers continue to launch more flats for sale. Henderson Land launched the first featured unit for tender from its Sai Ying Pun project Novum West. The top-floor unit sizes 726 square feet, with a 263-square-foot platform and a 172-square-foot rooftop. Henderson also plans to roll out some more units today. Sources said it has received about 3,000 subscriptions for the 200 units launching for sale next Tuesday. Meanwhile, Cheung Kong uploaded the sales brochure of Ocean Pride in Tsuen Wan yesterday, and will open show flats and upload price list next week.
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