Kerry Properties has launched the strata-title sale of its investment property Aigburth, a prestigious residential development in Mid-Levels dubbed by estate agents as the most valuable apartments in Hong Kong. Analysts said the new, 65-unit building at Tregunter Path could generate up to HK$3 billion if sold out. Sources said Kerry Properties had appointed agents to arrange a private sale of two units, but more units were expected to be available if market responses were favourable. The two flats are each of about 3,000 square feet and are located on the middle to lower levels of the residential tower. Kerry did not quote its asking prices, but agents expected the developer was looking for an average price of HK$13,000 to HK$15,000 per square foot. The building is majority leased, with less than 10 units vacant. Agents expected Kerry would release the vacant flats for sale first and those with tenancies would go on sale later. This meant the short-term supply would be very limited, they said. They said the launch would attract market attention due to the project's location and quality. In April, the property's 8,552 sq ft penthouse was sold to the family of Cissy Pao Watari, the youngest daughter of the late Sir Yue-kong Pao, for HK$162 million, representing an average of HK$19,000 per square foot. It was the most expensive deal for a single apartment in Hong Kong. Kerry Properties originally intended to retain all the units for long-term investment to generate recurrent rental incomes. But the price achieved for the penthouse prompted Kerry to review its decision and explore the sale option. With unobstructed sea views and a 35,000 sq ft club house, the project is considered by some agents to contain Hong Kong's most luxurious apartments. Analysts said Kerry Properties could bank on the sale of investment properties such as Aigburth to boost earnings in the coming year due to fewer development sales. Kerry Properties is also selling its units in Tregunter Tower, near Aigburth.