Asia’s priciest address on offer as five villas set for en bloc sale at The Peak, asking US$298 million
The properties feature extravagant interior decorations, custom built furniture, original oil paintings and hand crafted chandeliers
A luxury low rise development comprising five town houses at 3 Plunkett’s Road on The Peak, which have been held empty by the builder Tai Cheung Properties for seven years, is being offered for collective sale at HK$2.34 billion (US$298.22 million).
The five properties feature extravagant interior decorations, each fitted with custom built furniture, original oil paintings and hand crafted chandeliers.
“Mainland companies and institutional funds are searching for these rare properties for self use or investment. These properties are just like art collections for the mega rich,” said Louis Ho, principal sales director for The Peak & South Mid-Levels West at StatelyHome, a luxury home sales unit under Centaline Property Agency. StatelyHome is the sole agent of the 3 Plunkett’s Road development.
The 3 Plunkett’s Road development is comprised of six detached town houses. But five properties have been kept off market after the developer sold House A, the largest of the six in August 2011. The house fetched HK$399.8 million or HK$81,708 per sq ft, inclusive of two car parks, a 920 sq ft garden and a 805 sq ft roof top.
“It is the first time in the past 10 years that five luxury town houses in a new development have been offered for sale in one go,” he said.
Ho rejected the suggestion that the sale was triggered by the growing political support for a vacancy tax to curb hoarding. The years-long delay was needed to complete the detailed interior design and decoration plan, he said. The interior design costs, inclusive of design fees and furniture, amounted to HK$159.84 million, according to the developer.
