Luxury real estate to be sold by tender

PUBLISHED : Wednesday, 27 April, 2005, 12:00am
UPDATED : Wednesday, 27 April, 2005, 12:00am

Two luxury residential properties are being offered for sale by tender, a sign of confidence in the still buoyant secondary market.

The expected sales price for the 26-year-old Horizon Lodge in Chung Hom Kok is $230 million. Jones Lang LaSalle and Savills Realty have been appointed as the joint sole agents.

The property, which is to be sold with existing tenancies, has five apartments of about 2,230 sq ft each and two terrace houses of about 3,080 sq ft each, making up a total gross area of 17,310 sq ft. It has a swimming pool and 14 parking spaces.

Meanwhile, CB Richard Ellis is arranging the sale by tender of the four-storey Orion Court at 17 Ede Road, Beacon Hill, Kowloon Tong. The sole agent forecast the property would fetch more than $210 million.

The 16-unit Orion Court was originally owned by the Civil Servants' Co-operative Building Society. The owners have dissolved the society and paid a premium to the government for the lifting of land-use restrictions.

Fifteen out of the 16 owners have consented to the public tender sale of the property, which has a total gross floor area of 18,955 sq ft. The tender closes on June 8.