Four Seasons Place takes rents to new peak

Four Seasons Place is setting a benchmark for the most expensive serviced apartments in Hong Kong, leasing out two penthouses at an average of $115 per square foot.

The 60th-floor penthouses, of 2,800 and 3,600 square feet, respectively, have beaten the record on the Peak for luxury apartments of $100 per square foot.

Belinda Kuan, a director of leasing at Four Seasons Place, would not comment on the rents negotiated by the tenants of the two apartments, only saying the units were expected to reap rental income of more than $10 million a year.

Tenants are understood to have signed leases for as long as six months.

'We already have potential tenants lining up to lease the penthouses when the current leases expire,' Ms Kuan said, adding that they aimed to raise the unit rent to about $120 per square foot by the time the leases came up.

Four Seasons Place, which comprises 519 suites, is part of the IFC complex. All 334 available rooms have been filled since the launch of the first and second batches in September.