No. 4 Liberty Avenue, Kowloon Sold through Savills

The Property has a registered site area of approximately 4,882 square feet (453.55 square metres) and is situated on the south-western side of Liberty Avenue, adjacent to the junction between Liberty Avenue and Victory Avenue in Ho Man Tin District, Kowloon.

The Property falls within an area zoned “Residential (Group A)” under Kowloon Planning Areas No. 6 and 7– Approved Ho Man Tin Outline Zoning Plan No. S/K7/24 gazetted on 18 September 2015.

Mr. Augustine Wong, Executive Director of Henderson Land Development Company Limited, said, “The site area is approximately 40,000 square feet, which is not large. Our plan is to develop it into a residential building with a focus on small to medium-sized units, specifically targeting first-time buyers.”

Mr. Charles Chan, Managing Director of Savills Valuation and Professional Services, said, “There have only been 5 compulsory sale applications, which is a significant decrease compared to the past two to three years. The main reason for this decline is that developers are reluctant to initiate new development projects during a downturn in the real estate market. It is expected that the number of compulsory sale applications will increase in the coming year after relaxing the threshold. However, it is difficult to predict the exact numbers as it will depend on the decisions of major property owners and the overall property market conditions.”