Outlook & Living - The Peak and Mid-Levels
Supply remains limited
There will be a new supply of 35 townhouses from six projects on The Peak, according to Centaline Properties. Sun Hung Kai Properties is building luxury townhouses in its Twelve Peaks Project.
Other future supply will come from the Stubbs Road site acquired for HK$4.49 billion by Sun Hung Kai Properties at a public auction, which will be built into 180,839 sq ft of accommodation, while the Borrett Road site, for which Cheung Kong paid HK$11.65 billion through another auction will provide 435,304 sq ft.
To date, the only land reserved by the government on the existing application list is a 14,057 sq ft site on Mount Austin Road, on The Peak, which will be made available for sale next year.
Still going strong
The Peak Tram has served residents and visitors to The Peak since 1888, taking them on the 1.4km uphill journey. Operated by the Hongkong and Shanghai Hotels Group, which also owns the Peninsula hotel, the Peak Tram carries an average of 11,000 passengers a day, in carriages that can each carry 120 passengers. The lower terminus is in Garden Road, while stops at Kennedy Road, MacDonnell Road, May Road and Barker Road serve residents of Mid-Levels.