23 Jan 2024
Lugard Road House on the Peak sold for $838 million to a Chinese-backed consortium buyer
山頂盧吉道 25及26 號A&B，現為一幢兩層高過萬呎的獨立屋，以8.38億元易手，買家為中資背景財團。物業總地盤面積約 23,374 平方呎,，最大可建面積約11,687平方呎，呎價約71,703元。
A&B House at 25 and 26 Lugard Road on the Peak, which is now a two-storey detached house with a height of over 10,000 square feet, changed hands for $838 million. The buyer was a Chinese-backed consortium. The total site area of the property is approximately 23,374 square feet, the maximum buildable area is approximately 11,687 square feet, and the price per square foot is approximately NT$71,703.
The price of luxury land with harbor views on the Peak can reach more than 100,000 per square foot during the peak period. The current sales price has been adjusted by about 30% from the peak period. Although the global economic environment is still full of challenges , users and investors are relatively cautious, but this successful transaction reflects that after the epidemic and interest rate increases in recent years, it is a golden opportunity for buyers to acquire top-quality properties.
Lugard Road is one of the most expensive areas in Hong Kong. There are only 11 independent residential lots, and only 4 of them have sea views of Victoria Harbor (two of which are currently for sale). ), a seven-passenger car can drive to this property from Mount Austin Road. It only takes a 3-minute drive from the property to The Peak Galleria or Peak Tower. It is also very rare and hard to find in the super luxury market, so it attracted this buyer to complete the transaction.
It is understood that the original owner of the mansion is the TSIM family, a long-established local toy merchant. They purchased it for nearly 145 million in 1999, with a book profit of about 693 million