THE arched doorways, parquet floors and high ceilings of another old Peak apartment building are facing demolition.
Modreenagh, at 3-5 Plunkett's Road, is likely to be demolished next year to make way for a luxury residential building whose 12 units will sell for an estimated $24 million each.
Architects were already working on plans for the new 24,000-square-foot building to replace the existing structure, said William Cheng Kai-man, chairman of Shun Ho Construction (Holdings), which owns the building.
Tenants were still moving into the 30-year-old building last week and a first-floor flat was being refurbished for new occupants.
None of the tenants contacted, who pay from $60,000 to nearly $100,000 a month for 12 apartments of between 1,800 and 2,200 sq ft each, was aware of their landlord's plans.
Construction of the new building could start within a year, according to Mr Cheng.
Completion of blueprints and obtaining government approval for the project could take six months, after which tenants would have to be given six months' notice, he said.