Middle-floor unit with car park at ultra-expensive Mount Nicholson sold at 26.3% loss


4th February 2023 – (Hong Kong) A middle-floor unit together with a car park in the ultra-expensive Mount Nicholson was sold at the end of last month for about HK$390 million. The average price per square foot was less than HK$90,000. According to information, the unit is located in Block D of Phase 3, with a saleable area of ​​about 4,596 square feet. The average price per square foot of this transaction was only HK$84,800.

The original owner purchased the unit for HK$519.99 million in October 2018, with a price per square foot of more than HK$113,000. Later, another parking space was purchased for HK$9 million in 2021. The total purchase of the unit together with car park amounted to HK$529 million. Based on the latest transaction price, the book loss was about 26.3%. It is reported that new buyer only had to pay 4.25% ad valorem stamp duty on the property as it was the first property purchase. In fact, the transaction price per sqf of this project has hit a new high in Asia. In November 2021, a high-rise unit in Block D of this project, with a usable area of ​​4,544 square feet and 3 parking spaces was sold for more than HK$639 million through bidding, and the price per square foot was about HK$140,800. This 3 parking spaces were also the the most expensive in the world with an average price of HK$11.888 million each.