Receivers Tender Two Connected Peak Road Sites Valued at HK$1.6 Billion
On.cc · 1 SOURCES1 day ago2 MIN
Summary
Colliers Hong Kong and Savills announced on Tuesday (September 29) that they have been jointly appointed by receivers and managers to tender two connected residential sites at 86, 88 and 90 Peak Road on Hong Kong Island . The public tender will close on December 2, 2026, with the market valuing the combined portfolio at approximately HK$1.5 to 1.6 billion .
Key Points
- The project encompasses a total site area of approximately 28,620 square feet, featuring three four-storey detached houses with gardens and three three-storey villas with private swimming pools
- Each villa offers a saleable area ranging from approximately 3,082 to 3,322 square feet, with total approved building area of approximately 18,901 square feet
- According to the government lease, the maximum developable gross floor area exceeds 19,000 square feet, and the site commands views of Repulse Bay and the South China Sea
- Estimated price per square foot of rebuildable floor area exceeds HK$78,000, potentially reaching over HK$80,000
- The properties were originally acquired in 2017 by a Chaozhou businessman for approximately HK$2 billion through company share transactions
Why It Matters
The sale represents a rare opportunity to acquire a large low-density residential site in Hong Kong's most prestigious address, where geography and planning restrictions have severely limited new supply for decades . Market observers anticipate strong interest from local entrepreneurial families, family offices, and capital from across Asia, particularly as quality luxury residential supply in Hong Kong remains critically constrained .
The sale represents a rare opportunity to acquire a large low-density residential site in Hong Kong's most prestigious address, where geography and planning restrictions have severely limited new supply for decades . Market observers anticipate strong interest from local entrepreneurial families, family offices, and capital from across Asia, particularly as quality luxury residential supply in Hong Kong remains critically constrained .