A more recent sticking point is the CyberPort project, emerging on a 26-hectare site in Telegraph Bay. A 20-year moratorium on new developments has turned Pokfulam into a low-density residential area, but residents fear the ambitious e-commerce project will transform it into a busy town. Already, loaded construction vehicles and roadworks are the bane of residents' lives.
Then there are the appeals of the Bisney Road Action Group, intent on preserving their privacy. The group, consisting mainly of tenants in the area, has voiced strong appeals against government plans to build a school on 'green belt' ground adjoining Bisney Road. Last week, they added anthrax fears to their list of reasons, saying the land once supported a dairy farm with a history of the disease. They fear anthrax spores could be disturbed during construction, a risk factor the Department of Health dismisses as 'very low'.
Against this background of controversy comes the launch of La Mer, named for its crowning glory - sweeping sea views. The development has had its own troubled history, with original investor Chi Cheung Investment taking a hit in the 1997-98 financial crisis. Talent Land Development and Chan Sum Construction are putting the finishing touches to the small development, which is scheduled for occupancy in December.
The two connected blocks, which consist of only 15 units at 67-71 Bisney Road, are the first new offering in the immediate vicinity for several years. The building is set apart from its older neighbours by a distinctive curtain wall in tinted glass, which gives unbroken views of the South China Sea. Wide bay windows with marble topping, wood finishes and natural lighting add to the appeal. The units are far from typical, eschewing Hong Kong's block-like formula for a interesting and creative use of space.
Access to outside space is limited, however, although apartments 3A and 3B have roof-top gardens. A communal Japanese garden will grace the rooftop of the lower block, enhancing views for upper block residents.
'[La Mer] is cleaner, sharper and a bit more modern [than its neighbours],' said Frank Marriott, senior director of residential development and investment at FPD Savills.
He points out that buyers will 'have views in perpetuity', thanks to the Stanley Ho sports ground below which guarantees no imposing new neighbours.
Units are spacious at between 1,808 and 2,567 square feet. The three-bedroom flats have two bathrooms, one en suite, as well as a small 'utility' room with ablution facilities suitable for a housekeeper.
So far, one 2,063 sq ft unit has been sold, fetching HK$10.72 million, or HK$5,200 per sq ft.
According to Mr Marriott, a rash of new units at the CyberPort project may put downward pressure on rentals in the short-term, but the low-rise appeal of Bisney Road should bring long-term appreciation.
Despite present traffic problems, convenience is one selling point for La Mer. Ongoing improvements will widen Pokfulam Road and enhance the Victoria Road conduit. The Route 7 highway will connect directly to the CyberPort, linking with Western district. Route 10 will eventually extend to Chek Lap Kok airport as well as Shekou and Shenzhen.
Mr Marriott believes the Bisney Road area is undervalued. It offers many of the attractions of places such as Repulse Bay and Stanley, but prices have traditionally lagged those of the south side by 30 to 40 per cent. The area has appeal for those with an eye for a bargain.
Those without the budget for a brand new unit at La Mer will find plenty of other options.
There are spacious units for rent two doors down at Bisney Crest. They range from 1,584 to 2,644 sq ft with two to four bedrooms and rents start at HK$25,000 a month. The units are dominated by broad staircases and a lot of space is wasted on landings and entrance halls. The chief drawcard is the generous roof area, allowing tenants to breath the sea air instead of only admiring the view. Residents also have access to sports facilities at nearby Victoria Garden.
For those in need of a smaller unit, Ricacorp Properties has a 700 sq ft apartment on its books. The third floor unit at 15 Consort Rise has two bedrooms, a parking space and has been redecorated. The asking rental is HK$15,000, including management fees and rates.
Potential buyers will find that anything upwards of HK$4 million will fetch a generous apartment offering as peaceful a living environment as possible close to a big city. Those with a long-term view and no feng shui issues may benefit should the Bisney Road area achieve its ambitions of being a low-rise getaway in a buzzing modern zone.
Next week: Old Peak Road
Graphic: PRO21gwz
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