Jade Beach Villa at Chung Hom Kok on sale for $1.5b

The property comprises 12 apartments and 18 houses.

JLL announced the sale of Jade Beach Villa at 3-7 Horizon Drive at Chung Hom Kok for $1.5b.

Completed in 1977, the property comprises 12 apartments and 18 houses on a site area of approximately 102,000 sq ft.

Currently, eight out of 12 apartments and 14 out of 18 houses are tenanted, whilst four apartments and four houses are vacant.

It has a maximum permissible gross floor area (gfa) of approximately 57,375 sq ft and a total saleable area of approximately 55,914 sq ft.

Zoned “Residential R (C)”, the property can be redeveloped into a three-storey detached house with one-storey open carport.

The property is situated near the Dairy Farm Chung Hom Kok Shopping Mall, MTR Ocean Park Station, Happy Valley, Causeway Bay, and the Central Business District.