The property is a 5-bedroom, 7-bathroom villa with a 1,200 square meter floor area.
The Luxury Villa on Gough Hill Road
The house at 15 Gough Hill Road is a stunning example of luxury living in Hong Kong. With its 5 bedrooms, 7 bathrooms, and 1,200 square meter floor area, this villa is the epitome of opulence and sophistication. The property boasts breathtaking views of the surrounding landscape, making it the perfect retreat for those seeking a tranquil and exclusive lifestyle.
Key Features
A Luxury Market in Crisis
The luxury real estate market in Hong Kong has been experiencing a downturn, with prices plummeting in recent months. The house at 15 Gough Hill Road is a prime example of this trend, with its price cut from HK$1.2 billion to HK$700 million to HK$800 million.
The bank’s takeover was a result of a long-standing dispute between Chen and the bank over a loan.
The Bank of East Asia’s Takeover of the Hong Kong Mansion
The Bank of East Asia’s (BEA) takeover of the Hong Kong mansion was a significant event in the financial world, marking a rare instance of a bank taking control of a high-profile property.
The Rise and Fall of Cheung Kei Center
The Cheung Kei Center, once the headquarters of the renowned real estate firm Cheung Kei Holdings, was a symbol of success and prosperity in Hong Kong’s financial district. Built in 1985, the 40-story skyscraper was designed by renowned architect I.M. Pei and was considered one of the most iconic buildings in the city. The center was a hub for the company’s operations, housing its offices, meeting rooms, and even a rooftop garden. Key features of the Cheung Kei Center: + 40-story skyscraper + Designed by I.M. Pei + Iconic building in Hong Kong’s financial district + Featured a rooftop garden However, the building’s success was short-lived. The real estate market began to decline in the early 2000s, and Cheung Kei Holdings struggled to stay afloat. The company’s fortunes changed when Chen, the founder, made a series of ill-fated investments in the property market. The firm’s assets began to dwindle, and it eventually filed for bankruptcy in 2009.
The Sale of Cheung Kei Center
In November 2022, the Cheung Kei Center was sold to Hong Kong Metropolitan University for approximately HK$2.6 billion. The sale marked a significant turning point for the building, which had been vacant for several years.
