Property at 88 Robinson Road sold by public auction under Land (Compulsory Sale for Redevelopment) Ordinance
HONG KONG, 27 January 2022 – JLL today announced that the building at 88 Robinson Road in Mid-Levels was sold by public auction pursuant to an Order for Sale made by the Lands Tribunal under the Land (Compulsory Sale for Redevelopment) Ordinance this morning to On brave Limited for HKD 1.009 billion. JLL was the auctioneer.
The nine-storey residential building with roof was built in 1961 and is served by two lifts and two common staircases. The property comprises lower basement, upper basement and ground floor to 6/F, each with five flats for domestic use.
The site is zoned as "Residential (Group B)" under Approved Mid-Levels West Outline Zoning Plan No. S/H11/15. It has a site area of approximately 10,360 sq ft.
The property was sold partly with vacant possession and partly subject to existing lettings, tenancies and licences (if any) and existing building orders and on an 'as is' basis.
Cynthia Li, Senior Director of Projects Strategy and Consultancy Department at JLL, said: "The building offers a rare redevelopment opportunity in one of Hong Kong Island's traditional luxury residential areas. The redevelopment project was desirable to developers as it could provide the greenery view of West End Park and is within the vicinity of The University of Hong Kong and renowned primary and secondary schools."
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.