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Ex-banker sells US$41 million Deep Water Bay home, then splashes out on lease at The Peak
Sany non-executive director Lawrence Lam signed a HK$525,000-a-month lease on The Peak, underscoring a growing appetite for top-tier rents
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After selling a HK$319 million (US$41 million) luxury home in Hong Kong’s affluent Southern district, a former finance executive has rented a 4,715 sq ft house at The Peak, the city’s most exclusive neighbourhood, for HK$525,000 a month, official records show.
Lawrence Lam Yuk-kun was identified as the former owner of a house in Deep Water Bay and the new tenant of a property on Gough Hill Road at The Peak.
Lam is an independent non-executive director at Sany Heavy Industry, China’s largest construction machinery maker, which completed its initial public offering in Hong Kong in October.
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House 3 at 39 Deep Water Bay Road was sold to a company called True Gain Capital in a transaction completed in late October, according to Land Registry records. The property includes gardens, canopies, a yard and a foyer among other features.
Lam, and a party named Ng Wai-sum, bought the house in 2004 for HK$88.8 million. The Post reached out to Lam via Sany for comment.
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Marketing materials on agents’ websites showed the property had a saleable area of 3,889 sq ft, putting the deal at about HK$82,026 per square foot.
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