Hong Kong Ho Shung-pun Family Sells 4 Houses at The Peak for $140 Million, 4 Town Houses Unit A, B, C & D at 46 Plantation Road, $140 Million Proceeds Reported to be Used to Repay $204 Million of Private Loan to Private Equity Firm Gaw Capital, Ho Shung-pun & Family Had Also Obtained a $10 Million 1-Year Loan from X8 Finance (Subsidiary of Hong Kong-Listed Termbray Industries), Ho Shung-pun Family Has Another $10 Million Loan with Interest Rate of 29% p.a. for Initial 2 Months & 18% p.a. Thereafter
11th July 2024 | Hong Kong
Hong Kong Ho Shung-pun family has sold 4 houses at The Peak for $140 million (HKD 1.1 billion), with the 4 town houses (Unit A, B, C & D) at 46 Plantation Road. The $140 million proceeds have been reported to be used to repay $204 million of private loan to private equity firm Gaw Capital. Ho Shung-pun & family had also obtained a $10 million 1-year loan from X8 Finance (Subsidiary of Hong Kong-Listed Termbray Industries). Ho Shung-pun family has another $10 million loan with interest rate of 29% p.a. for the initial 2 months & 18% p.a. thereafter. Savills (10/7/24): “International real estate firm Savills has completed the largest first-hand market transaction since the cancellation of stamp duty measures. The property, located at 46 Plantation Road, The Peak (the “Property”), currently comprises four three-storey detached houses with ground floor carports, and has been sold for HK$1.1 billion. The Property has a site area of approximately 21,470 square feet and a saleable area of approximately 16,986 square feet … … The independent detached houses have saleable areas ranging from 4,060 to 4,432 square feet. All houses have a layout of 4 en-suite bedrooms. Each house is equipped with a private swimming pool, an elevator, a rooftop, and parking spaces. The gardens for each unit range from 1,492 to 2,206 square feet. The Property is situated in the prestigious Peak district of Hong Kong, boasting an exceptionally prime location. Residents can enjoy panoramic views of the iconic Victoria Harbour, making this a truly rare and valuable offering.”
“ Hong Kong Ho Shung-pun Family Sells 4 Houses at The Peak for $140 Million, 4 Town Houses Unit A, B, C & D at 46 Plantation Road, $140 Million Proceeds Reported to be Used to Repay $204 Million of Private Loan to Private Equity Firm Gaw Capital, Ho Shung-pun & Family Had Also Obtained a $10 Million 1-Year Loan from X8 Finance (Subsidiary of Hong Kong-Listed Termbray Industries), Ho Shung-pun Family Has Another $10 Million Loan with Interest Rate of 29% p.a. for Initial 2 Months & 18% p.a. Thereafter “
Raymond Lee, CEO Savills Greater China: “The sale price of this single lot has been adjusted down by around 50% compared to the market peak. In comparison to the transaction on Lugard Road that we facilitated earlier this year, the price has also been adjusted by approximately 11%. The price is considered very attractive. Furthermore, the buyer completed the transaction in cash, with a short completion period, which motivated the seller to part with the property.”
Thomas See, Senior Associate Director, Investment CEO Office, Savills Hong Kong: “The single lot situated at The Peak, offering breathtaking vistas of Victoria Harbour, is an exceptional and coveted asset. This property is of exceptional quality and is well-suited for intergenerational family asset allocation and wealth transfer. These factors motivated the buyers to promptly decide to acquire this desired property.”
Hong Kong Ho Shung-pun Family Sells 4 Houses at The Peak for $140 Million, 4 Town Houses Unit A, B, C & D at 46 Plantation Road, $140 Million Proceeds Reported to be Used to Repay $204 Million of Private Loan to Private Equity Firm Gaw Capital, Ho Shung-pun & Family Had Also Obtained a $10 Million 1-Year Loan from X8 Finance (Subsidiary of Hong Kong-Listed Termbray Industries), Ho Shung-pun Family Has Another $10 Million Loan with Interest Rate of 29% p.a. for Initial 2 Months & 18% p.a. Thereafter
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