Handover discount sells 74pc of units

Henderson Land Development says it made $575 million from the sale of 103 residential and commercial units during a special offer celebrating the handover in the past 10 days.

The developer sold 74 per cent of the 138 units on offer.

Henderson Land released 100 residential and commercial units and later increased the number to 138.

Estate agents said the special offer was a marketing strategy to boost sales in view of lacklustre buying interest over the handover.

The units sold at a discount of 2 to 15 per cent in 15 of the developer's residential and commercial developments.

On top of the discounts, Henderson will pay stamp duty and the first year's management fees.