Liaison office buys block in Sai Ying Pun for HK$480m

The central government's liaison office has paid HK$480 million for a block owned by property tycoon Lee Shau-kee in Sai Ying Pun.

The block at No 8 Ying Wa Terrace is still under construction. It will be a 26-storey residence with a total of about 26,000 sq ft, housing 48 flats.

The land registry showed that the transaction for the block, owned by the chairman of Henderson Land through a company, was completed on Friday.

Henderson secured 90 per cent ownership of more than 20 flats at Ying Wa Terrace in 2009 as it carried out a plan to build the block.

Unlike its previous property purchases in the city, the office made this latest transaction directly under its name.

The block, 400 metres south of the liaison office's premises on Connaught Road West, is expected be used as a staff residence for the office.