Home / Asia / Mystery customer of Asia’s priciest flats on The Peak in Hong Kong is revealed

Mystery customer of Asia’s priciest flats on The Peak in Hong Kong is revealed

The name of a customer who spent an startling HK$1.16 billion on dual adjoining flats during No 8 Mount Nicholson on The Peak has finally been revealed, though a poser over who accurately a chairman is has usually deepened.

The Land Registry on Saturday identified a customer as Lin Zhongmin, sparking demoniac media conjecture about where a chairman comes from.

The dual flats on a 12th building of a disdainful residential development, with a sum area of 8,821 sq ft, were sole final month.

One flat, measuring 4,242 sq ft, fetched HK$560.2 million, or HK$132,060 per block foot, creation it Asia’s many costly chateau by building area. The adjoining flat, measuring 4,579 sq ft, sole for HK$604.2 million, or HK$132,059 per block foot.

Some internal media speculated that Lin was from a mainland, definition a customer would have to compensate a double stamp avocation of 15 per cent on one prosaic and a simple stamp avocation of 4.25 per cent on a other. The sum would come to about HK$110 million.

“It would be judicious to assume that anyone who can means to spend some-more than HK$1 billion on dual flats would have a personal resources of during slightest HK$10 billion,” Vincent Cheung, emissary handling executive for Asia gratefulness and advisory services during Colliers International, said.

“They might not even have bought a flats to live in as they many substantially have other homes.”

Mount Nicholson has Asia’s 3 many costly homes. In further to a dual bought by Lin, another prosaic – measuring 4,266 sq ft – was sole in Nov for HK$500 million.

What can we buy for US$149 million? Playboy Mansion, Beyoncé’s home or 2 HK flats

The customer of that prosaic was mainland businessman Zhu Xingliang, a owner of Suzhou Gold Mantis Construction Decoration, that is intent in a interior design, construction and landscaping sectors.

With a net value of US$2.6 billion, Zhu ranked 112th on a 2017 Forbes China Rich List.

No 8 Mount Nicholson, comprising 48 flats and 19 houses over 3 phases, is a corner plan by Wheelock Co and Nan Fung ­Development.

“There is a private highway is heading to a growth and comprehensive remoteness is guaranteed,” pronounced Thomas Lam, comparison executive during Knight Frank. “It is a singular product in a area. The super abounding see these ultra oppulance homes in such a prestigious plcae as collectable items. They do not mind profitable a reward for them.”

Article source: http://www.scmp.com/business/article/2125553/mystery-buyer-asias-priciest-flats-peak-named