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News Release

Hong Kong

Tender Closing Date for 15 South Bay Road Postponed to 16 December 2009

According to Jones Lang LaSalle, the exclusive sales agent for the tender sale of 15 South Bay Road, Repulse Bay (‘Property’), the Property has attracted much attention while quite a number of enquiries have been received from prospective buyers and property agents.  In response to some bidders’ requests for additional time to review the Conditions of Sale and title deeds related to the Property, the Mortgagee has decided to postpone the tender closing date to 12:00 noon, 16th December 2009 (Wednesday).

‘With the recent announcement by the US government to maintain its low-interest policy, the costs for financing and mortgage have stayed at the low levels.  The near-zero savings interest rates have also prompted many Mainlanders and local investors to turn to the property market for investment opportunities that offer higher yields.  Coupled with the massive inflow of hot money within and outside the region, the property investment​ market has been ‘heated’ with rising volume of transactions,’ says Warren Liu, Jones Lang LaSalle’s Head of Investment Department.

‘Luxury residential sites located in Island South have been scarce and highly sought-after among end-users and investors.  With its prime location and marvellous sea views over Repulse Bay, 15 South Bay Road represents a truly rare investment opportunity,’ adds Liu.

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. Purposely designed with an open layout, it is the perfect entertainment house as it offers the owners and guests alike a sense of comfort and warmth as sunshine streams through the oversized windows and doors. The security wall provides its inhabitants a sense of privacy and safety as the main gates can be closed to form a secure compound that is 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 property is about 6,825 sq ft. The gross floor area of the domestic block and the recreation block is about 5,205 sq ft and 1,620 sq ft respectively. 

And for those looking for alternative uses, the site of the Property itself has 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 allowable plot ratio of 0.9. This equates to a potential maximum 10,076 sq ft redevelopment site, subject to lease modification and land exchange.