Weekend Property

Talk of the terrace: Mandarin Building's home on Hong Kong Island profits from gentrification

Spacious four-bedroom apartment, with a large outdoor area, on Bonham Strand has an asking price of HK$48 million

PUBLISHED : Friday, 02 September, 2016, 12:31pm
UPDATED : Friday, 02 September, 2016, 3:35pm

Bonham Strand was once a forgotten corner of Central, full of old and dilapidated buildings and narrow streets, which were lined by old tenement buildings, or tong laus, built before the second world war.

But in the past five to seven years, the area has been transformed by a gentrification drive that has seen the construction of new hi-tech office blocks and residential towers.

Bonham Strand is a combination of two streets in Sheung Wan, Bonham Strand and Bonham Strand West. As the name suggests, it was close to shore in the 18th century, though it is pretty far from the seafront after several reclamations over the decades. This street follows the shoreline as it would have been around 1842.

Midland Realty is marketing a spacious flat in Mandarin Building at 35-43 Bonham Strand. The four-bedroom (two en suite) flat has a gross area of 2,196 sq ft and a net saleable area of 1,783 sq ft. The asking price is HK$48 million.

According to Midland’s Josephine Yuen, one of the home’s special features is its 3,500 sq ft terrace, which makes it a rarity in Central.

The owner redecorated the flat with French designs, and the terrace is just off the dining and living room.

Another property on the market is a 2,100 sq ft house in Leung Fai Tin in Clearwater Bay. According to Hong Kong Sotheby’s International Realty, the tastefully decorated house is priced at HK$25 million. It has four rooms (one en suite), a big roof and two covered parking spaces.

The four bedrooms have built-in wardrobes and plenty of space to accommodate queen-size beds and more furniture. The fourth bedroom is linked to the family room by the balcony, while the master bedroom has its own balcony.

The property has been described as an excellent buy by Sotheby’s.