Beverly Hills to get fanfare treatment

PUBLISHED : Wednesday, 08 September, 2004, 12:00am
UPDATED : Wednesday, 08 September, 2004, 12:00am

The Beverly Hills low-rise residential project developed by Henderson Land Development is scheduled for sale in December, in line with an expected improvement in the high-end housing market.

'The selling price [for each house] will range from $4,000 to $10,000 per square foot,' Henderson Land Development chairman Lee Shau-kee said.

The first two phases of the completed development in Tai Po comprise 372 flats, providing a total floor area of 724,174 sqft.

Mr Lee said the company would use a high-profile marketing strategy similar to that adopted for the sale of the 2,020-unit Grand Promenade in Sai Wan Ho.

'The project [The Beverly Hills] is big enough to afford a large-scale marketing strategy,' Mr Lee said.

Henderson Land reaped strong sales for its Sai Wan Ho development, with about 1,000 flats sold since its launch early last month.

Mr Lee said Henderson Land had paid about $100 million in commission fees for agents who marketed the Grand Promenade. Property agents said The Beverly Hills would attract homebuyers and investors.

Centaline Property Agency senior sales director Alfred Cheung said 95 per cent of the units had a sea view and that only a small number of flats had a view of a cement factory.

'There may be a small number of units, which do not have a sea view ... they will be offered at a price of around $4,000 per square foot.

'The average price overall will amount to more than $7,000 per square foot, with most averaging out at about $6,000 per square foot,' Mr Cheung said.

He said second-hand units in nearby low-rise development Hong Lok Yuen were priced as high as $6,000 per square foot.

Henderson Land Development assistant general sales manager Thomas Lam said that to upgrade the image of the development, the company planned to market the project as automated intelligent houses by introducing digital services.