Perfect Ten has been acquired by Japura Development, which is affiliated with CK Asset Holdings. On the fourth attempt, the collective sale was successful. The developer was the highest bidder out of six others, presenting a winning bid of $401.9 million, which translates to $1,847 psf ppr.
The price is 13% higher than the reserve price of $355 million, or $1,633 psf ppr, when the $3.504 million development fee is factored in.
Perfect Ten apartment has a gross plot ratio of 2.1 and a floor area of 104.5 square feet (9.7 square meters). A shop, one penthouse, and 77 flats are among the properties on the property. Owners of the condos will earn anywhere from $2.8 million to $11.5 million.
The property is zoned for residential use. It will house a 24-story residential skyscraper with a total floor space of 219, 516 square feet. It has the potential to produce up to 230 units with an average unit size of 1,098 sq ft.
The site is in a key location in the center of District 10, making it suited for both residential and investment purposes. Perfect 10 is a 10-minute walk from the Stevens and Newton MRT stations. In addition, the neighborhood has a wealth of facilities and amenities.
CK Asset Holdings Limited
(“CK Asset” or “the Group”) is a renowned multinational corporation dedicated to long-term sustainable growth through the continuous strengthening of its current property businesses and the steady expansion of its recurring income base through a prudent global investment strategy. The Group’s businesses include property growth and investment, hotel & serviced suite operation, estate & project management, aircraft leasing, pub operating, and infrastructure and utility asset operation.
CK Asset, one of Hong Kong’s top property developers, with a dominant market position in Hong Kong, a diverse portfolio in Mainland China, and a considerable presence in Singapore and the United Kingdom. The Group has developed several of Hong Kong’s most significant landmark buildings and complexes, some of which are part of its core asset holdings, thanks to its long history of property development experience.
In addition to the property industries, CK Asset has globally diversified through excellent investments with reliable recurring revenue on a global scale. With investments and operations now covering continental Europe, Australia, Canada, the United Kingdom, and the Republic of Ireland, it has expanded its reach to the sectors of airplane leasing, pub operating, as well as infrastructure and utility assets.