Community hub
Recent from talks
Contribute something to knowledge base
Content stats: 0 posts, 0 articles, 1 media, 0 notes
Members stats: 0 subscribers, 0 contributors, 0 moderators, 0 supporters
Subscribers
Supporters
Contributors
Moderators
39 Conduit Road
39 Conduit Road is a luxury residential property situated in Conduit Road in western mid-Levels of Hong Kong. It was developed by Henderson Land Development.
Soon after the development was launched in October 2009, the developer claimed to have sold a five-bedroom duplex flat, on the "68th floor" of the 46-story building for HK$439 million (US$57m). The price, equating to US$9,200 per square foot, set the new world record for the most expensive apartment.
There were criticisms of deceptive marketing in which the developers launched the project omitting 42 intermediate floor numbers. The development was once again the subject of controversy when only one sale had been completed within the commonly accepted three-month completion period; and all but four transactions, including the record-setting sale, were later cancelled.
The incarnation of 39 prior to the Henderson development was known as "Rocky Mount". This eleven-storey building which was completed in 1965 had a total of 44 units, was used by civil servants. Henderson chairman Lee Shau-kee began acquiring units in the residence in the 1990s. He stepped up the pace of purchases from about 2001. He initially paid HK$4 million per unit, and later units were acquired for HK$8–9 million, by which time he had amassed 41 of the 44 units. Henderson applied to the Lands Tribunal for compulsory purchase of the remaining 3 units, but this became unnecessary following an operation with Peterson Holdings Co Ltd. The 3 remaining units were eventually bought out for an average cost of HK$12 million. Lee Shau-kee, who originally owned 60 percent equity of the site of the luxury building, sold it to the company for HK$1.75 billion ($225m), or HK$12,759 psf.
The project has 45 stories above ground.
The developer gives the gross floor area at approximately 229,255 square feet (21,300 m2), comprising a single tower with 6-storey podium car park, 1-storey club house and 39 residential floors. The development provides 66 residential units and 104 car parking spaces; its 66 units range in size, from 2,800 square feet (260 m2) to about 7,600 square feet (710 m2).
The developer announced it would sell 40 percent of the units in 2009. Two duplexes on the "66th floor" the building were listed – the 5,636-square-foot (523.6 m2) unit was price-tagged at HK$357.7 million, and the 5,131-square-foot (476.7 m2) unit is listed at HK$311.4 million. Prior to the launch, Henderson has suggested it might ask HK$100,000 psf for the two penthouse apartments on the "88th floor" not on the initial sale list.
One 6,158 square feet (572.1 m2) duplex apartment, the larger of two on the "68th floor" the building, has its own ballroom, outdoor swimming pool, fitness centre and outdoor patio. The headline price of HK$71,280 per square foot was achieved. The definition of the floor area is unlike that in most other real estate markets; usable living space which includes the 340 square feet (32 m2) garden, and its share of communal areas. Based on a more common international measure, the square foot price would be about HK$88,000, or US$11,350 ($122,170 per square metre). According to the developer, it was sold to an unnamed buyer from mainland China through a locally registered company. A second unit on the same floor fetched HK$397 million or HK$64,605 psf. There was much controversy about price fixing by Henderson Land Development when the company announced that it had sold a duplex apartment in the building for a record-breaking price in 2009 to an undisclosed buyer; later it was found that the buyer was a company registered in the British Virgin Islands. Not long after that it came to light that all 24 flats that Henderson Land Development had sold were bought by companies registered in the British Virgin Islands and all of them were registered by the same law firm.
39 Conduit Road
39 Conduit Road is a luxury residential property situated in Conduit Road in western mid-Levels of Hong Kong. It was developed by Henderson Land Development.
Soon after the development was launched in October 2009, the developer claimed to have sold a five-bedroom duplex flat, on the "68th floor" of the 46-story building for HK$439 million (US$57m). The price, equating to US$9,200 per square foot, set the new world record for the most expensive apartment.
There were criticisms of deceptive marketing in which the developers launched the project omitting 42 intermediate floor numbers. The development was once again the subject of controversy when only one sale had been completed within the commonly accepted three-month completion period; and all but four transactions, including the record-setting sale, were later cancelled.
The incarnation of 39 prior to the Henderson development was known as "Rocky Mount". This eleven-storey building which was completed in 1965 had a total of 44 units, was used by civil servants. Henderson chairman Lee Shau-kee began acquiring units in the residence in the 1990s. He stepped up the pace of purchases from about 2001. He initially paid HK$4 million per unit, and later units were acquired for HK$8–9 million, by which time he had amassed 41 of the 44 units. Henderson applied to the Lands Tribunal for compulsory purchase of the remaining 3 units, but this became unnecessary following an operation with Peterson Holdings Co Ltd. The 3 remaining units were eventually bought out for an average cost of HK$12 million. Lee Shau-kee, who originally owned 60 percent equity of the site of the luxury building, sold it to the company for HK$1.75 billion ($225m), or HK$12,759 psf.
The project has 45 stories above ground.
The developer gives the gross floor area at approximately 229,255 square feet (21,300 m2), comprising a single tower with 6-storey podium car park, 1-storey club house and 39 residential floors. The development provides 66 residential units and 104 car parking spaces; its 66 units range in size, from 2,800 square feet (260 m2) to about 7,600 square feet (710 m2).
The developer announced it would sell 40 percent of the units in 2009. Two duplexes on the "66th floor" the building were listed – the 5,636-square-foot (523.6 m2) unit was price-tagged at HK$357.7 million, and the 5,131-square-foot (476.7 m2) unit is listed at HK$311.4 million. Prior to the launch, Henderson has suggested it might ask HK$100,000 psf for the two penthouse apartments on the "88th floor" not on the initial sale list.
One 6,158 square feet (572.1 m2) duplex apartment, the larger of two on the "68th floor" the building, has its own ballroom, outdoor swimming pool, fitness centre and outdoor patio. The headline price of HK$71,280 per square foot was achieved. The definition of the floor area is unlike that in most other real estate markets; usable living space which includes the 340 square feet (32 m2) garden, and its share of communal areas. Based on a more common international measure, the square foot price would be about HK$88,000, or US$11,350 ($122,170 per square metre). According to the developer, it was sold to an unnamed buyer from mainland China through a locally registered company. A second unit on the same floor fetched HK$397 million or HK$64,605 psf. There was much controversy about price fixing by Henderson Land Development when the company announced that it had sold a duplex apartment in the building for a record-breaking price in 2009 to an undisclosed buyer; later it was found that the buyer was a company registered in the British Virgin Islands. Not long after that it came to light that all 24 flats that Henderson Land Development had sold were bought by companies registered in the British Virgin Islands and all of them were registered by the same law firm.
Recent media
Recent media