Ex-Hong Kong leader Tung Chee-hwa’s sister buys US$15 million flat at discount
The Mid-Levels property deal comes as celebrities, tycoons and other wealthy investors snap up luxury homes at depressed prices
A 3,349 sq ft, four-bedroom unit in Grenville House, located at 3 Magazine Gap Road in Mid-Levels, was sold on Tuesday, according to Land Registry records.
Shirley Peng Shiao Ping and William Peng Shih-Hsiao appear to be the directors of the acquiring firm, Noble Gather, according to the Companies Registry. Shirley Peng is the sister of Tung and the widow of Peng Yin-kang, chairman of Chinese Maritime Transport. William Peng, their son, is now chairman.
The sale was around 8.5 per cent cheaper than a previous Grenville House deal. A flat on a lower level, but with the same floor area, sold for HK$130 million in December, according to a transaction record from Centaline.
And it was 26 per cent cheaper than the HK$160 million paid by Tung for another unit in 2021, according to reports in local media.