INVESTMENT buyers will be particularly interested in an unusual deal on the latest apartment block to come on the market in the Parkview complex on Tai Tam Reservoir Road. Of the original 40 units on 23 floors, between 10 and 15 remain for sale at Parkview Crescent, Tower 10 of the Parkview development. Instead of vacant possession, most are being offered with sitting tenants on leases of not longer than two years, paying average rental of $90,000 per month. With asking prices ranging from $16.6 million to $18.9 million, agents Midland Realty says this represents a five per cent return for investors, and the developer is prepared to guarantee this return. All units are being sold furnished, and feature two master bedrooms, a guest room and study, combined living and dining area, plus a well appointed kitchen and separate maid's quarters. Large balconies, measuring 70 square feet, allow the opportunity to sit out and enjoy the pleasant environment of Parkview. The whole complex consists of 1,000 residential units and hotel suites. It is situated in the hills with views over Tai Tam Country Park, but is just 15 minutes' drive from Central and Causeway Bay. Parkview's facilities are among the best in Hong Kong, and include a shuttle bus to Central, a superb clubhouse, on-site supermarket, Chinese and Western restaurants. For sports lovers, there are two tennis and three squash courts, a 25-metre outdoor swimming pool, a Roman bath, gym and a wide range of conference and business facilities. A typical unit in Parkview Crescent has a gross floor area of 2,772 square feet, and according to agents Midland Realty, acting for the developer, the Chyau Fwu Group, these flats appeal to expatriate employees of international corporations. They say the complex usually has a long waiting list of hopeful tenants. When Parkview Crescent first came on to the market at the beginning of November, only two units were offered with vacant possession, indicating an interest in investor buyers rather than owner occupiers. The attraction of investing in Parkview is obvious - average rentals there having risen 80 per cent over the past year, and the complex is perceived as attracting reliable, usually corporate, tenants. It has a reputable management company with a good record for maintenance - both attributes which will appeal to long-term investors. The asking price represents about $6,000 per square foot. Unusually in the sale of flats with sitting tenants, mortgage financing has been facilitated by a special deal arranged by the developer, the Taiwanese Chyau Fwu Group, with Kincheng Banking Corporation. They will provide mortgage loans of up to 70 per cent of the assessed property value to qualified buyers at an interest rate of 1.75 per cent above prime. The developer may also provide 10 per cent additional financing. Rates of return on Parkview Crescent are guaranteed by the developer at five per cent per annum, and any shortfall due to a lower than market rental being paid at present will be compensated by the Chyau Hwu Group until the current lease expires. FACT FILE: LOCATION: Parkview Crescent, 88 Tai Tam Reservoir Road, Hong Kong. SIZE: Typically 2,772 sq ft. PRICE: $16.6 million - $18.9 million, mostly with sitting tenants. FEATURES: 40 units on 23 floors, all offering en suite accommodation with two master bedrooms, guest room, study, a combined living and dining area and a spacious 70 sq ft balcony. Comprehensively equipped modern kitchens and separate maid's quarter allows privacy. AGENT: Contact Andy Wong, Midland Realty. Tel: 523-3051. FACT FILE LOCATION: Hale O'Makena, island of Maui, Hawaii. DESCRIPTION: Tropical living on the southwest shore of the Hawaiian island of Maui in a rambling, ranch-style home. With idyllic beaches, this spectacular property at Makena offers 1.69 acres oflandscaped grounds planted with banana, papaya, coconut and citrus trees, and exotic flowering plants. Overlooking Makena beach, it has unobstructed views of several islands and in winter dolphins and whales frequent the waters, visible from every room. Located in a conservation area, the house offers privacy with a state-of-the-art security system, although only minutes from the community of Kihei, five golf courses and a tennis centre. Features include a two-car garage, three large bedroom suites with private bathrooms in a wing off the living area, which opens on to a patio designed for outdoor entertaining. An open-plan kitchen, a living room, family room, an office and a nursery provide ample space for comfortable living. SIZE: 6,000 sq feet of living area, set in 1.69 acres. PRICE: US$6.8 million. AGENT: For more information telephone (USA) 1-310-450 5145. The Hong Kong contact is 520-2036. FACT FILE LOCATION: Cavendish Heights, 33 Perkins Road, Hong Kong. DESCRIPTION: The convenient location of this spacious apartment makes it ideal for a comfortable family home. Four bedrooms and two bathrooms allow ample room, with covered car parking provided. Sports enthusiasts can enjoy the tennis and squash courts, swimming pool and clubhouse facilities. The block has its own children's playground, making it suitable for young families. SIZE: 2,265 sq ft. PRICE: $16 million. AGENT: Contact Renu Budhrani, Chesterton Petty. Tel: 840-1177.