By order of the Mortgagee, Jones Lang LaSalle has been appointed as the auctioneer to conduct a public auction sale for five luxury residential units (1) to (5) below.  The auction will be conducted at Pacific Place Conference Center, 5/F One Pacific Place, 88 Queensway, Hong Kong at 3 pm, 26 August 2009 (Wednesday).

(1) Flat A on 50th Floor together with parking spaces Nos. 23 and 24 on 5th Floor, HighCliff, No. 41D Stubbs Road, Hong Kong

(2) Flat on 25th Floor with balcony, No. 11 MacDonnell Road, Hong Kong

(3) Flat on 26th Floor with balcony, No. 11 MacDonnell Road, Hong Kong

(4) Flat B on 20th Floor including the balcony and utility platform thereof of Tower 1 One SilverSea, No.18 Hoi Fai Road, Kowloon

(5) Flat B on 31st Floor with balcony, utility platform and roof, CentrePlace, No.1 High Street, Hong Kong

Property (1) comprises a high-floor deluxe apartment of 3,816 sq ft in HighCliff, one of the tallest residential buildings in the world.  HighCliff has 73 storeys and commands some of Hong Kong’s finest views, situated on the southwest side of the upper part of Stubbs Road in Hong Kong’s traditional high-end residential area.  The Property enjoys spectacular views from Happy Valley racecourse to Victoria Harbour.

 

The Property comes with a Jacuzzi, ample built-in storage and high-end kitchen appliances.

Property (2) and Property (3) comprise two luxury apartments of 2,313 sq ft each in 11 MacDonnell Road.  Located near the junction of MacDonnell Road and Garden Road in Mid-levels, one of the most popular home addresses among the middle class in Hong Kong, 11 MacDonnell Road enjoys a tranquil environment and is only a five-minute drive from Central.

Apart from the private lobby that ensures privacy and exclusivity, each apartment comes with a spacious living and dining room with floor-to-ceiling windows, a fully fitted master bedroom, two good-sized bedrooms and a balcony.

Property (4) is a 1,548-sq ft apartment in One SilverSea which located on the north side of Hoi Fai Road.  The property comes with a balcony and commands a 180-degree view of Victoria Harbour, accommodating two bedrooms, a fully fitted kitchen, living and dining rooms and plenty of storage. The apartment embraces a highly flexible layout that can be modified to cater the needs of families of different sizes.

The property is provided with a clubhouse which features a complete range of facilities including indoor and outdoor swimming pools, sports ground, gymnasium, a function room and many more.

Property (5) is a 1,238-sq ft apartment with roof on the top floor of CentrePlace in Mid-levels. Located in one of Hong Kong’s traditional luxury residential districts, the property enjoys spectacular views of Victoria Harbour.  While in close proximity to Central, CentrePlace is within walking distance from the nearby parks.

The Property comes with three bedrooms, a balcony and living and dining rooms, with a private rooftop offering outdoor space for entertainment.

The auction is conducted by order of the Mortgagee. All the properties for sale will have a reserve price, which is to be set in accordance with the valuation by the independent valuer assigned by the President of the Hong Kong Institute of Surveyors. The properties will be sold if the bid prices are higher than or equal to the reserve prices.

Commenting on the auction sale, Joseph Tsang, Jones Lang LaSalle’s International Director and Head of Residential Department says, ‘The residential market has proven to be exceptionally robust in 2Q09, with capital values and transaction volume rebounding strongly from their troughs in the first quarter. The combined effect of ultra low finance and holding costs, near-zero savings rates, improved liquidity and stock market rebound helped push market sentiment up over the recent months.’

‘Demand for luxury properties strengthened significantly in 1H09, driving luxury residential capital values up by 15.8%.  With the limited supply of luxury residential properties, especially on Hong Kong Island, we expect these five properties to arouse tremendous interest from end users and investors alike on the back of their strategic locations in the traditional luxury residential districts,’ adds Tsang.