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SCMP Reporter

IN THE EARLY 1930s, millionaire Eu Tong Sen built a palatial mock-castle on Hong Kong Island's Bonham Road, which became a showpiece and the talk of the Colony. The Eu family's stylish residence was called Euston and in grandeur it was compared with the governor's bungalow.

Most visiting VIPs to Hong Kong were taken there and shown around its ornate gardens, terraced on many levels, which were dotted with statues.

In later years it was converted into a hostel and ultimately demolished in the 1980s to make way for a high-rise.

Bonham Road, named after Hong Kong's third colonial governor Sir Samuel George Bonham, is wedged between Caine Road and Pok Fu Lam Road. The road started to flourish during the late 1980s when the more expensive neighbourhoods on the eastern side of Mid-Levels became too crowded.

The developments on Bonham Road were less expensive than ones in other parts of Mid-Levels, attracting the upper-middle class.

The whole stretch of Bonham Road consists of single developments or ones with two or three towers, many of which have a stunning view of Victoria Harbour, West Kowloon and Sai Ying Pun and western districts.

'The prices of the apartments vary widely from HK$2 million to HK$10 million. Hence you can find many homestarters here buying a very old 500 square foot apartment for slightly more than HK$2 million,' said Carol Hsu, assistant sales manager at the Bonham Road branch of Midland Realty.

Prices of apartments tend to increase towards Caine Road, where newer developments are found as well as in developments in the middle of Bonham Road, said Simson Lo Man-wai, district sales manager for Mid-Levels West at Centaline Property Agency.

Many developments have sprouted in recent years and in place of Mr Eu's Euston one can now find Euston Court, a two-tower development completed in 1989 by New World Development.

Euston Court, the largest estate in Bonham Road, enjoys one of the highest sale transaction rates in the area.

With facilities such as a swimming pool, a squash court and a podium garden, apartments at Euston Court cost HK$4,300 per sq ft on average and sizes range from 704 sq ft to 939 sq ft.

The cheapest rates are HK$3,300 per sq ft, according to agents. Rentals in Euston Court are between HK$23 and HK$26 per sq ft. Parking spaces are rented out for between HK$2,500 and HK$3,000 per month.

Compared to other blocks in the area, most of the apartments in Euston Court have great sea views, however, their layout leaves a lot to be desired.

'The dining and living rooms are diamond-shaped, some people don't like that,' said Mr Lo.

A 929 sq ft apartment located on a higher floor with two bedrooms would most likely cost around HK$27,000 per month to rent (all inclusive).

According to Mr Lo, rental transactions at Euston Court have fallen sharply. This is partly due to the emergence of new developments like Belcher's Garden on Pok Fu Lam Road, a project undertaken by Sun Hung Kai Properties.

'For about HK$20,000, one can rent a 900 sq ft apartment at Euston or an approximately 800 sq ft apartment in Belcher's. But for the same price, the residents at the latter development get to enjoy a newer residence as well as a much wider range of recreational facilities,' said Mr Lo.

The older estates in Bonham Road are about 20 to 30 years in age and have larger sized apartments - from 1,000 sq ft to 2,000 sq ft. Sale prices in such developments are around HK$2,800 per sq ft to HK$3,500 sq ft.

Despite the age of the developments, apartments are mostly well-kept by owners and could be a good bargain buy, said Mr Lo.

Wilton Place, a single development completed in 1997 by Kwong Sang Hong International,  is the newest development in Bonham Road. It has a gymnasium and a swimming pool among its facilities.

The size of apartments in Wilton Place ranges from 383 sq ft to 1,400 sq ft, including penthouses and duplexes. Sale prices are on average HK$5,600 per sq ft, with rentals at HK$25 per sq ft per month.

Sixty-eight, Bonham Road is the address of Skylight Tower which was developed by Henderson Land Development. A 1,399 sq ft, three-bedroom apartment at Skylight Tower has been put up for sale by a bank at a below-market price of HK$5.6 million. Its market value is around HK$6.2 million. The 11-year-old apartment has excellent views of the harbour and Kowloon.

Lying just above High Street and off Centre Street, where popular local markets have stood for generations, Bonham Road is viewed by locals as having a strong 'foreign flavour' as it is filled with modern, westernised shops.

Defying the steep gradient along Centre Street are old roadside fruit stalls, wet markets and small eateries that offer a diversified alternative to the Wellcome and ParknShop supermarkets, McDonald's and the western and Japanese restaurants on Bonham Road which is also well served by branches of the major banks and is home to the Young Women's Christian Association hostel.

Compared to more expensive Pok Fu Lam, Bonham Road is more convenient for commuting workers. A minibus ride takes only 10 minutes to Central. There are also franchised buses to both Central and the southern part of the island. A ride to Aberdeen takes about 20 minutes.

Bonham Road falls within one of the best school nets - a major attraction for its residents - as local children get priority to some of the elite schools like St Stephen's Girls' College and St Paul's College. The road is also very close to the University of Hong Kong.

Next week: Lai King

Graphic: pro05gwz



No trace left of historic Euston as modern thoroughfare attracts well-to-do residents