Skip Ribbon Commands
Skip to main content

News Release

HONG KONG

Prime Mortgagee Properties at Sunshine Villa for Sale by Public Tender


HONG KONG, 30 MARCH, 2011 – Jones Lang LaSalle has been appointed by the Mortgagee as the Lead Sales Agent to conduct the sale for House E and/or House F at Sunshine Villa, 48 Mount Kellett Road, Hong Kong by way of public tender. The tender will close at 12:00 noon on Tuesday, 17 May 2011. The property is to be sold with vacant possession.

Completed in 1996, Sunshine Villa comprises ten houses. The HK property for sale​ now by public tender includes House E and/or House F of Sunshine Villa. Built in the form of terraced housing, each house has an area of about 2,995 sq ft. The intended purchaser can opt for purchasing either one or both houses.

Situated at the tranquil location on the Peak, Sunshine Villa ensures its residents absolute privacy. Surrounded by lush mountain greenery while overseeing the Island South, Sunshine Villa represents an ideal residence for the selected few.

The Peak is always recognised as one of the most expensive residential locations not only in Asia but even across the globe as well. Severn Road on the Peak has been named as one of the most expensive residential streets in the world in one of the recently conducted surveys. Very Often, the Peak area is the preferred home address among the celebrities. It has also been reported that a famous Hollywood movie star, Chow Yun Fat, has been one of the house owners at Sunshine Villa.

‘There is a scarcity for properties on the Peak, particularly houses available for sale and in fact, no house has been put up for sale by mortgagee for many years. At present, House E and House F of Sunshine Villa may be the only supply of the mortgagee’s properties in the Peak area. Mortgagees’ properties in general are more attractive as mortgagees are believed to have clearer intention to sell, compared with that of the second-hand owners,’ says Joseph Tsang, Jones Lang LaSalle’s Managing Director and Head of Capital Markets, Hong Kong.

‘According to our research data, the values of houses on the Peak have appreciated by about 2.3 times over the last ten years. This growth is much higher than that of the ordinary residential properties. Price growth for houses located on private lots on the Peak is particularly remarkable, which has been recorded at 5 times or above.  For example, the price of Nos.6–16 Peel Rise grew by more than five-fold from HKD 207 million in 2001 to about HKD 1.1 billion in 2010. We expect this price uptrend for Peak properties to continue, in view of the limited supply and the keen demand both from local and Mainland China,’ remarks Tsang.

‘Prospective buyers from Hong Kong and China alike have expressed interest to submit their tender to acquire both House E and House F of Sunshine Villa. The property will likely become the focus of the market and generate tremendous interest among the prospective buyers.’ concludes Tsang.