Wheelock Properties

Wheelock slashes price on duplexes in Tai Po

PUBLISHED : Thursday, 27 November, 1997, 12:00am
UPDATED : Thursday, 27 November, 1997, 12:00am

Wheelock Properties says it will sell 20 duplexes at its Forest Hill development in Tai Po tomorrow at an average price of about $5,000 per square foot.

That is about 39 per cent below the previous offer in March.

The company said the coming launch would also include 15 apartment suites which also averaged $5,000 per square foot.

This represents a 25 per cent drop from the last sale in August.

Wheelock said all completed units will be sold on a first-come, first-served basis.

It said five banks have agreed to provide mortgages for buyers at a rate as low as 10.25 per cent.

Wheelock will provide a 20 per cent top-up mortgage. It also offers buyers a longer completion period of 90 days after signing the official sale and purchase agreement.