New Seaview Luxury Residence on Tai Po Hillside “VILLA LUCCA” Sales Arrangements Uploaded– First Batch of 59 Units for Sale by Tender Offering a “2-Year Flexible Installment Free & Interest Free First Mortgage Loan” and Multiple Payment Plans and Special Offers
VILLA LUCCA, the brand new low-density seaview1 luxury residence jointly developed by Hysan Development Company Limited and HKR International Limited, is highly regarded with its prestigious location on the Tai Po hillside along Lo Fai Road. Nestled in the embrace of the mountains, the woods and the sea1, VILLA LUCCA accentuates the beauty of nature and makes a perfect mountain retreat for those who yearn for high privacy and cosiness. Since the opening of its onsite furnished units5^ for viewing by prospective buyers (by appointment), market response has been overwhelming. To meet market demand, the developers have uploaded the sales arrangements on 10 August and offered 59 residential units in the first round of sale by way of tender. Buyers who are members or tenants of the developers* can receive up to HK$140,000 worth of gift vouchers7.
Ms. Jessica Yip, Director of Office and Residential at Hysan Development Company Limited, said, “With the magnificent mountain range of Pat Sin Leng1 as a natural backdrop and spectacular views of Plover Cove Reservoir and Tolo Harbour1, VILLA LUCCA emanates the elegance of traditional luxury homes. Its unique geographical location boasts proximity to Northern Metropolis2 and the Hong Kong Science and Technology Park and convenient access to almost everywhere in the city as well as Liantang Port which connects to the Greater Bay Area. VILLA LUCCA exemplifies luxurious living with the provision of 340 parking spaces, allowing a ratio of more than one parking space for each residential unit. To cater for residents’ quest for carparking spaces, successful bidders for the units available for sale by tender in this batch+ will be given option to apply for the purchase of parking space(s) when the vendor first launches the sale of the residential parking spaces in the Development. Successful bidders for typical units or ground-floor special units with a garden may purchase# one parking space8 and successful bidders for top-floor special units with a roof may purchase# up to two parking spaces8. “
Ms. Yip added, “For members of Club Avenue under Hysan Development Company Limited or tenants of Hysan Development Company Limited or its group companies, or members of Discovery Bay Golf Club or Lantau Yacht Club under HKR International Limited, or tenants of HKR International Limited or its group companies, they will receive gift vouchers worth HK$100,000 to HK$140,0007 upon the purchase of a house at VILLA LUCCA. They will receive gift vouchers worth HK$50,000 to HK$60,0007 for the purchase of a unit other than a house.”
Ms. Violet Lam, General Manager, Business Development & Marketing at HKR International Limited, said, “Since the opening of VILLA LUCCA’s onsite furnished units5^ for viewing, we have seen overwhelming responses from the market with over 500 prospective buyers paying visits. Therefore, we decided to upload the sales arrangements and put 59 residential units up for sale by way of tender starting on 18 August. Amongst these units, 57 of them are apartments, including 42 typical units, 7 special units on the top floor with a roof, and 8 special units on the ground floor with a garden, with saleable areas ranging from 1,078 to 2,344 sq ft3, either with 3 bedrooms (including 1 ensuite) or 4 bedrooms (including 2 ensuites)4. The first batch of units (for sale) + also include 2 garden houses, both featuring 5 bedrooms (including 2 ensuites)4 and saleable areas of 3,245 and 3,322 sq ft3.”
As for terms of payment, Ms. Lam added, “Apart from the ‘90-day Cash Payment Plan’6 introduced last time, the developers also offer the ‘Stage Payment Plan’6, whereby the buyer pays 5% of the property price as an initial deposit6 upon signing of the Preliminary Agreement and then pays further deposit in 5 installments6, each being 1% of the property price, within 30 days, 60 days, 90 days, 120 days and 180 days of the date of the Preliminary Agreement. The balance of 90%6 of the purchase price shall be paid within 14 days after the date of the Vendor’s written notification that the Vendor is in a position validly to assign the Property.”
Offering “2-Year Flexible Installment Free & Interest Free First Mortgage Loan”6
Ms. Lam remarked, “In order to provide buyers with greater financial flexibility, in addition to the ‘First Mortgage Loan’6 and ‘Second Mortgage Loan’6 plans announced last time, the developers will partner with financial institutions to provide a ‘2-Year Flexible Installment Free & Interest Free First Mortgage Loan’ plan. Buyers can apply to designated financial institutions for a first mortgage6 with a maximum loan amount of 85%6 of the purchase price with a maximum tenor of 730 days6 (that is, about 2 years). No monthly repayments6 are required of the first mortgage and the lowest interest rate for the loan shall be Hong Kong Dollar Best Lending Rate (P)6. In the event that the Purchaser shall duly repay the loan in full on or before the Maturity Date, interest on the loan will be completely waived6.”
With a site area of over 340,000 sq ft, VILLA LUCCA provides 262 units and houses ranging from 2 to 5 bedrooms4, each with an expansive saleable area of over 1,000 sq ft3.
Sales Arrangements No. 1 – Summary of Units
|Unit||Saleable Area (sq ft) 3||Layout4||Number of Units|
||Typical Unit||1,160 – 1,833||
3 bedrooms (incl 1 ensuite) or
|Top-floor Special Unit with Roof||2,021 – 2,344||4 bedrooms (incl 2 ensuites)||7|
|Ground-floor Special Unit with Garden||1,078 – 1,510||3 bedrooms (incl 1 ensuite) or
4 bedrooms (incl 2 ensuites)
|Total||1,078 – 2,344|| 3 bedrooms (incl 1 ensuite) or
4 bedrooms (incl 2 ensuites)
|House||3 Villa Avenue||3,322||5 bedrooms (incl 2 ensuites)||1|
|5 Villa Avenue||3,245||5 bedrooms (incl 2 ensuites)||1|
|Total||3,245/ 3,322||5 bedrooms (incl 2 ensuites)||2|
About Hysan Development Company Limited
Hysan Development Company Limited is a leading property investment, management and development company with a core portfolio of over 4 million square feet of high-quality office, retail and residential space, situated in Hong Kong’s Lee Gardens. With roots in the city that go back 100 years, Hysan has focused on building the community, mixing the traditional and the new, applying technology and practicing sustainability. It has transformed the Lee Gardens area into a modern smart community, with a unique Hong Kong character, making it an attractive destination for leading multinational corporations, international visitors and local residents.
The Company has been growing its core portfolio through upgrades and expansion. It has also invested in strategic growth pillars which target opportunities brought about by the New Economy, with the aim of reinforcing Hysan’s business by geography and by sector. Among its strategic pillars are Lee Gardens Shanghai and an urban renewal project in To Kwa Wan. Hysan has been listed on the Stock Exchange of Hong Kong since 1981 under stock code 00014.
About HKR International Limited
HKR International Limited has diversified interests in real estate development and investment, property management, luxury hotels and serviced apartments, and other investments in Hong Kong, mainland China and across Asia.
The Company’s diverse portfolio includes Discovery Bay and CDW Building in Hong Kong, HKRI Taikoo Hui in Shanghai, and a number of premium residential properties under development in Shanghai, Jiaxing and Hangzhou. HKRI has been listed on The Stock Exchange of Hong Kong since 1989, under the Stock Code of 00480.
1. The view enjoyed by a unit is affected by the unit’s orientation, level, surrounding buildings and environment. The surrounding environment may change from time to time and the view as stated in this Press Release may not be applicable to all units of the Development. This advertisement does not constitute any offer, undertaking, representation or warranty whatsoever, whether express or implied, on the part of the Vendor as to the Development or its view. The Vendor also advises prospective purchasers to conduct an on-site visit for a better understanding of the development site, its surrounding environment and the public facilities nearby. Please refer to the Sales Brochure for details of the Development.
2. For reference only, for the Northern Metropolitan Development Area, please refer to the Northern Metropolitan Development Strategy Report at [https://www.policyaddress.gov.hk/2021/chi/pdf/publications/Northern/Northern-Metropolis-Development-Strategy-Report.pdf] (the last extracted date being 1 August 2022). The content(s) described on the aforementioned website may change from time to time and it does not constitute any offer, undertaking, representation or warranty whatsoever, whether express or implied, on the part of the Vendor. The proposed or uncompleted railways, roads, buildings, facilities and regional development referred to in this advertisement are for reference only, the details of which (including but not limited to their implementation, location, design, route, completion, opening date, etc.) are subject to the final decision of the Government. They may not be completed upon completion and handover of the Development, and may be different from the description in this advertisement upon completion. The Vendor does not give any offer, undertaking, representation or warranty whatsoever, whether express or implied.
3. The saleable area (including balcony, utility platform and verandah (if any)) is calculated in accordance with Section 8 of the Residential Properties (First-hand Sales) Ordinance (the “Ordinance”). The saleable area excludes the area of each item specified in Part 1 of Schedule 2 of the Ordinance. The saleable area of other Items Specified is calculated in accordance with Part 2 of Schedule 2 of the Ordinance. The areas in square feet have been converted from square metres based on a conversion rate of 1 square metre = 10.764 square feet and rounded off to the nearest integer and may be slightly different from those shown in square metres.
4. The Vendor reserves the right to revise and alter the design, layout, partition or area, etc. of any part of the Development, subject to the final approved building plans.
5. The layout design and layout displayed by the unit are purely the designer’s personal choice and are for demonstration purposes only. Alterations to the layout of the furnished flat (if any) may not be applicable to or feasible for other units. Purchasers should consult the relevant professional(s) and comply with the requirements of the Buildings Ordinance, other legislation and regulations, the land grant documents, the Deed of Mutual Covenant and Sub-Deed of Mutual Covenant before making any alteration(s) to the internal partition(s). Alteration or treatment of partition walls or doors may be restricted by relevant laws, regulations and/or deed(s) of mutual covenant, and/or may require the consent or approval of relevant government departments and/or manager of the Development.
6. The payment plans and financial mortgage loans options shall be subject to the provisions in the agreement for sale and purchase and terms and conditions apply. Please refer to the sales arrangement and tender documents announced by the Vendor from time to time. The Vendor reserves the right to change the terms and conditions of payments, discounts, financial advantage, benefits of different residential units from time to time and the Purchaser may not receive the discounts, financial advantage, benefits as stated in this advertisement/ promotional material. Mortgage loan shall be approved by the Vendor’s designated mortgage company or financial institutions depending on various factors such as the Purchaser’s repayment capacity, credit history etc. The terms and conditions and the approval or disapproval of applications for the mortgage loan are subject to the final decision of Vendor’s designated mortgage company or financial institutions. No representation, undertaking or warranty, whether express or implied, is given, or shall be deemed to have been given by the Vendor (or its affiliates) or its designated mortgage company or financial institutions in respect of the terms and conditions and/or the approval of applications for the mortgage loan. The decision of the mortgage company or financial institutions is independent from the Vendor and the Vendor shall under no circumstances be responsible therefor. The Purchaser is advised to enquire with Vendor’s designated mortgage company or financial institutions about the details of the mortgage loan and its approval conditions. Irrespective of whether any loan is granted or not, the Purchaser shall complete the sale and purchase in accordance with the agreement of sale and purchase and pay the full purchase price.
7. The relevant gifts voucher(s) is/are subject to the terms and conditions of relevant transaction documents. The Vendor reserves the right to change or cancel any arrangement or decisions in relation to the offer from time to time, and the terms and conditions of the transaction documents shall prevail. Please refer to the sales arrangement, tender documents and Acknowledgement Letter Regarding Cash Voucher announced by the Vendor from time to time. The Purchaser shall provide relevant supporting documentary evidence for proof as member of Club Avenue or Discovery Bay Golf Club or Lantau Yacht Club or a Tenant of HKR International Limited or Hysan Development Company Limited or any of their respective group companies (including but no limiting to the membership supporting documents or tenancy agreement(s)) to the satisfaction of the Vendor provided however that the Vendor shall have absolute discretion to decide whether or not the Purchaser (or any person comprising the Purchasers) is an eligible person for the cash voucher(s). In case of any dispute, the Vendor’s decision shall be final and binding on the Purchaser. Purchasers are required to redeem relevant vouchers within 30 days after issuance of Voucher Collection Letter or the offer is deemed to be revoked.
8. The offer is subject to terms and conditions of the tender accepted by the Vendor. Please refer to the tender documents for details and the tender accepted by the Vendor shall prevail.
+ Means the residential properties tendered for sale under the Sales Arrangement No.1.
# The time and other details regarding application for purchase of carparking space(s) shall be subject to relevant arrangement, terms and conditions, which will be set out in the invitation letter for application for purchase of carparking space(s) to be issued by the vendor.
* The members or tenants of the developers refer to the members of Club Avenue or tenants of Hysan Development Company Limited or its respective group companies, or the members of Discovery Bay Golf Club or Lantau Yacht Club or the tenants of HKR International Limited or its respective group companies.
^ The above general descriptions of provisions do not apply to all residential units. For details of fittings, finishes and appliances, and the brands or manufacturers, please refer to the Sales Brochure, while the terms of the sale and purchase agreement shall prevail. The Vendor reserves the right to alter the fittings, finishes and appliances and brands or manufacturers and/or substitute the same with any other fittings, finishes and appliances and brands or manufacturers. Please refer to the Sales Brochure for details.
District: Tai Po | Name of Street at which the Development is situated and Street Number: 36 Lo Fai Road | The address of the website designated by the Vendor for the Development for the purposes of Part 2 of the Residential Properties (First-hand Sales) Ordinance: www.villalucca.com.hk | The photographs, images, drawings or sketches shown in this advertisement/promotional material represent an artist’s impression of the development concerned only. They are not drawn to scale and/or may have been edited and processed with computerized imaging techniques. Prospective purchasers should make reference to the sales brochure for details of the development. The Vendor also advises prospective purchasers to conduct an on-site visit for a better understanding of the development site, its surrounding environment and the public facilities nearby.
Name of the Development: Villa Lucca | To the best of the Vendor’s knowledge, the estimated material date for the Development: 30 June 2023 (“Material date” means the date on which the conditions of the land grant are complied with in respect of the Development. The estimated material date is subject to any extension of time that is permitted under the agreement for sale and purchase.) | Vendor: Gainwick Limited (as “Owner”) & TCS Project Management Limited (as “Person so engaged”) (“Person so engaged” means the person engaged by the Owner to co-ordinate and supervise the process of designing, planning, constructing, fitting out, completing and marketing the Development)∣ Holding companies of the Owner (Gainwick Limited): Strongbod Limited, Mariner Bay Limited, Harbour Front Global Limited & Hysan Development Company Limited | Holding company of the Person so engaged (TCS Project Management Limited): Crown Dragon Company Limited, Hanbright Assets Limited & HKR International Limited | Authorized Person of the Development and the firm or corporation of which the Authorized Person is a proprietor, director or employee in his professional capacity: Mr. Wong Ming Yim of DLN Architects Limited | Building Contractor for the Development: Unistress Building Construction Limited ∣ The firm of solicitors acting for the Owner in relation to the sale of residential properties in the Development: Woo Kwan Lee & Lo ∣ Authorized institution that has made a loan, or has undertaken to provide finance, for the construction of the Development: Bank of China (Hong Kong) Limited as security agent | Any other person who has made a loan for the construction of the Development: Mariner Bay Limited & Pine Isle Holdings Limited | This Press Release is published with the consent of the Vendor. | This advertisement/promotional material shall not constitute or be construed as constituting any offer, undertaking, representation or warranty, whether express or implied, by the Vendor. The Vendor is not seeking any general expression of intent or specific expression of intent on any property in the Development. | Prospective purchasers are advised to refer to the sales brochure for any information on the Development. | Please refer to the sales brochure for details. | Date of printing/production: 10 August 2022
This press release is issued by HKR International Limited.