Property at Sun Chun Street in Tai Hang sold by public auction

HONG KONG, 25 Aug 2022 – JLL today announced that the properties at Nos. 17 & 17A, 18, 19, 21, 22, 23, 24 and 25 Sun Chun Street in Tai Hang was sold by public auction pursuant to an Order for Sale made by the Lands Tribunal under the Land (Compulsory Sale for Redevelopment) Ordinance this morning to Smart Host Limited for HKD 588.7 million. JLL was the auctioneer.

The Property encompasses five tenement buildings of five to seven storeys, Nos. 17 and 17A with shops on the ground floor and domestic units on 1/F to 5/F; Nos. 18 and 19 with shops on the ground floor and domestic units on 1/F to 4/F; Nos. 21 and 22 with shops on the ground floor, stores on the mezzanine floor and domestic units on 1/F to 5/F; Nos. 23 and 24 with shops on the ground floor and domestic units on 1/F to 5/F; and No. 25 with shop on the ground floor and domestic units on 1/F to 5/F with roof.

The site is zoned as "Residential (Group A)1" under Approved Causeway Bay Outline Zoning Plan No. S/H6/17 and it has a site area of about 4,497 sq ft.

The property was sold partly with vacant possession and partly subject to existing lettings, tenancies and licences (if any) and existing building orders and on an 'as is' basis.

Cynthia Li, Senior Director of Projects Strategy and Consultancy Department at JLL, said: "Tai Hang is a concentration of low-density high-end apartments and luxury residences, providing prosperity in a tranquil environment. It is only a 5 to 10-minute drive from Causeway Bay and Wanchai and sits in the popular 12 School Net with famous schools within easy reach. It is expected that the project will be popular among families after redevelopment, and we believe that residential properties with redevelopment potential in Tai Hang will continue to be highly sought after by developers."