Johnson Stokes & Master (JSM) is pleased to have advised the owners on the disposal of 1 North Point Terrace for over HK$1.9 billion to Chinachem Group. The 22-storey residential building comprises 168 units within a single block.
The property was brought to market with strong interest through a tender process, and involved evaluation by and bids submissions from multiple bidders. This is reported to be the largest private residential redevelopment site transaction in Hong Kong this year to date. This transaction also underscores the continuous confidence in Hong Kong’s property market and highlights JSM’s expertise in delivering complex, high-value real estate transactions for clients.
The deal was led by Real Estate partners Peter Ho and Eugene Wong, and supported by senior associate Derek Leung, associate Stephanie Bow and trainee solicitor Kelvin Chen.
