{"id":4929,"date":"2017-09-13T12:36:45","date_gmt":"2017-09-13T04:36:45","guid":{"rendered":"https:\/\/www.spacious.hk\/en\/blog\/?p=4929"},"modified":"2019-08-30T18:00:35","modified_gmt":"2019-08-30T10:00:35","slug":"139-news-roundup-tai-po-residential-site-awarded-low-end-market-valuation-contrast-two-previous-land-sales-higher-market-expected-prices","status":"publish","type":"post","link":"https:\/\/www.spacious.hk\/en\/blog\/139-news-roundup-tai-po-residential-site-awarded-low-end-market-valuation-contrast-two-previous-land-sales-higher-market-expected-prices","title":{"rendered":"13\/9 News Roundup: Tai Po residential site awarded at the low end of market valuation – in contrast to the two previous land sales that achieved\u00a0higher-than-expected prices"},"content":{"rendered":"

Spacious’ View:
\n<\/span><\/strong>Tai Po residential site awarded at the low end of market valuation – in contrast to the two previous land sales with a higher market expected prices.
\n<\/span><\/strong><\/h3>\n

Manhattan Group won Tai Po residential site for HK$323m<\/strong><\/p>\n

A residential site on Yat Yiu Avenue in Tai Po<\/a> was awarded yesterday to Manifold Ltd, a company associated with Hong Kong-based Manhattan Group, for HK$323m, or HK$5,506\/sqft – at the low end of market valuation of between HK$323m and HK$469m. In stark contrast to the two previous land sales both of which were sold at the higher end of the market expectations. Whitehead, Ma On Shan (4,620sqm – HK$1.38m – 21st July) and Cheung Sha, Lantau (2,480sqm – HKD 210m – 16th Aug)<\/p>\n

Manhattan general manager Patrick Chow Kwok-choi said the firm plans to build low-density flats on the site, investing about HK$1b.<\/p>\n

The site occupies an area of about 82,452 sqft, with a maximum gross floor area of 58,663 sqft.<\/p>\n

In July last year, the group acquired a nearby site in Tai Po for HK$1.18b, or HK$4,551\/sqft. The site has a maximum gross floor area of about 259,712 sqft.<\/p>\n

Spacious is currently listing 5 properties for sale and 7 properties for rent in Tai Po. Click here<\/a> to see more Tai Po listings and up-to-date transaction data.<\/p>\n

Oasis Kai Tak received about 1,000 subscriptions<\/strong><\/p>\n

In the primary market, sources said Wheelock Properties has received about 1,000 subscriptions for the first 130 units from its Kai Tak<\/a> new project \u2013 Oasis Kai Tak<\/a>. The company would launch these 130 units for sale this Friday.<\/p>\n

Meanwhile, HKR International and Nan Fung would upload the sales brochure and open show flats of La Cresta<\/a>, their joint venture in Kau To Shan, soonest this week. The luxury project would provide 61 three- to five-bedroom units but the developers haven\u2019t decided if the units would be sold through tender or public sale.<\/p>\n

On the other hand, Cheung Kong Property has sold a 4-room unit from Ocean Supreme<\/a> at HK$23.67 million or HK$20,804 per square foot \u2013 both breaking the highest record prices of the Tsuen Wan<\/a> project.<\/p>\n

Click here<\/a> to see more new developments in Hong Kong on Spacious.<\/p>\n

Tin Shui Wai flat exceeds HK$10k\/sqft margin<\/strong><\/p>\n

A 3-bedroom featured unit with rooftop in Kingswood Villas <\/a>was sold at HK$6.73 million or HK$10,803 per square foot, breaking both the total price and price-per-square-foot records in the estate.<\/p>\n

It is also the first time that a 3-bedroom unit in this Tin Shui Wai<\/a> blue-chip housing estate has a per-square-foot price exceeding the HK$10k margin. The new record price is 2.2% higher than the old one at HK$10,567 per square foot.<\/p>\n

Click here<\/a> to see more sale and rental listings in Kingswood Villas on Spacious.<\/p>\n

For more information on property news and prices, please visit our website at https:\/\/www.spacious.hk\/<\/a> or follow our LinkedIn Page<\/a>.