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News Release

Hong Kong

Prime Luxury Residential Site at 15 South Bay Road for Sale by Public Tender

By order of the mortgagee, Jones Lang LaSalle has been appointed as the exclusive sales agent to conduct a public tender sale for 15 South Bay Road, Repulse Bay ('Property'). The tender will close at 12:00 noon on 25 November 2009 (Wednesday).
Repulse Bay, a district famous for being one of the most prestigious and sought after residential areas within Hong Kong, is comprised mostly of low-rise luxury residential developments and a handful of single-family homes. In addition, this district has several beautiful beaches and some of the best schools around. All this culminates into a picturesque low-pollution environment which promotes a healthy family lifestyle away from the bustle of the city. Yet, to top things off, Repulse Bay is approximately only 20 minutes away from Central and 15 minutes from Causeway Bay.
Completed in 1992, the Property is a beautifully designed contemporary three-storey detached house with an attached recreation building, a private garden and a swimming pool. The main house has a 15-feet tall entrance, spacious living and dining rooms, a family room, four en suite bedrooms with balconies (including a master suite), a gymnasium, a kitchen and a storeroom. Purposely designed with an open layout, it is the perfect entertainment house which offers the owners and guests alike a sense of comfort and warmth as sunshine streams through the oversized windows and doors. The security wall offers its inhabitants a sense of privacy and safety as the main gates can be closed to form a secure compound safe for kids to run around while large enough to accommodate several cars.
According to the approved building plans, the gross floor area of the detached house is about 6,825 sq ft. From the information provided by the Rating and Valuation Department, the saleable area of the detached house is about 4,929 sq ft and the ancillary area of the recreation block is about 2,306 sq ft.
And for those looking for alternative uses, the site of the Property itself is approximately 11,196 sq ft. According to the Shouson Hill and Repulse Bay Outline Zoning Plan, it is zoned for 'Residential (Group C)5' purposes with a maximum permissible plot ratio of 0.9. This equates to a potential maximum 10,076 sq ft redevelopment site, subject to lease modification and premium payment.
Commenting on the tender sale, Warren Liu, Head of Jones Lang LaSalle’s Investment Department, states, ‘With the current low interest rates and an extremely high demand for luxury residential products, there is a definite potential for market prices to go up even further. The recent prices of luxury residential products, such as house 4 of the Belvedere in the Peak, which sold for a unit rate of approximately HKD 51,064, is proof of that.’ And with such an incredibly low supply of individual houses within the Repulse Bay area, no.15 South Bay Road is destined to become a hit.
*** Please contact Abby Ho or Edith Yip for the images of the property.
Important Notes
The information contained herein does not constitute a contract or any part of a contract.  Potential buyers should not rely on any material contained herein as a statement or representation of fact but should satisfy themselves by inspection or otherwise, as to the accuracy of each of them.  No person in the employment of Jones Lang LaSalle or the mortgagee or the mortgagee’s solicitors makes or gives any representation or warranty whatsoever to the property or properties described herein.