A townhouse bought for less than $100 million 10 years ago has gone on sale for $320 million. It is the highest priced house on the market in Sai Kung/CWB currently.
Frederick Ho, Sothebys Realty associate director, said the owner of the property at 88 Pak To Avenue, Portofino, is Gilbert Yu. Frederick said there is a good market for such properties — two houses combined into one — because they are so rare. He said the townhouse will probably end up selling for around $300 million.
Asked whether he thought it would go to “a dodgy mainlander with suitcases of cash to hide”, Frederick said, “yes. Or to a rich family with lots of relatives.”
The house is 8,394sf in saleable area or $38,122psf. It has eight bedrooms, seven bathrooms, two maids’ rooms, three balconies, six parking spaces and a decked garden with pond and swimming pool. Portofino is a Cheung Kong development completed in 2000 with 52 four-storey houses and 20 low-rise condominiums.
Cheung Kong-built property has eight bedrooms and seven bathrooms. Townhouse expected to sell to rich family or “dodgy mainlander with suitcases of cash”
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