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Sit, Fung, Kwong & Shum act for two clients

We acted for two clients in the disposal of Nos.1, 3 & 5 Pollock’s Path, The Peak. The consideration of the transaction was HK$2.8 billion. Formal agreement was entered into on 4th January 2017 and completion took place on 31st March 2017. Preceding that, we conducted a private tender on behalf of clients. The current purchaser successfully snatched the deal from other interested parties just before the close of the private tender. This is the second occasion within last two years when the firm’s property team participated in the sale of valuable land lots on the Peak. In August 2015, we assisted another client to sell No.22 Barker Road by way of a company sale to the present new owner at the reputed price of $1.5 billion.

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