Date
20 August 2017
Sun Hung Kai's Twelve Peaks project on the Peak prides itself on extreme privacy and priceless views. Its version of luxury has the price tag to boot. Photo: SHKP
Sun Hung Kai's Twelve Peaks project on the Peak prides itself on extreme privacy and priceless views. Its version of luxury has the price tag to boot. Photo: SHKP

How much would you pay for a Peak view and privacy?

It’s the height of luxury and privacy with the price tag to boot.

At HK$175,735 (US$22,674) per square foot, an uber luxury mansion on the Peak, Hong Kong’s most exclusive enclave, sets a domestic record and tops the world, Sing Tao Daily reported Thursday.

By all indications, the property in Mount Kellett Road is nowhere near over the top. It has four bedrooms and a study in 4,661 square feet of usable space. A 4,400 sq. ft. garden completes the package.

But the buyer apparently has been swept up by its spectacular views of Hong Kong which could be priceless. The purchase is expected to be completed at the end of the quarter or early next year.

The mansion is part of the Twelve Peaks project of Sun Hung Kai Properties which prides itself on extreme privacy. The selling price of its 11 remaining units is above HK$100,000 per square foot.

The cheapest, if you will, goes for HK$393.4 million, or about HK$102,278 per sq. ft.

Sun Hung Kai acquired the land in 2006 for HK$1.8 billion, a premium of more than 130 percent over the base price. That worked out to a floor price of about HK$42,000 per square foot, a record in Hong Kong at the time.

For the record, a luxury development at 10-18 Pollock’s Path on the Peak, aptly called Skyhigh and owned by Hong Kong celebrity Stephen Chow, was the most expensive in Hong Kong. Chow sold it for HK$800 million, or about HK$133,500 per square foot, in 2011, according to Apple Daily.

A 17,000 sq. ft. penthouse unit in One Hyde Park in London’s tony Knightsbridge neighborhood recently went for US$237 million, Forbes reported.

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TL/AC/RA

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