New Development | Park Avenue III Re-releases the Floor Plan for Sale in Ready-Unit Form

Due to construction errors that require dismantling and rebuilding, the New World Development (00017) and MTR Corporation (00066) collaborative development project above the Sha Tin Tai Wai Station, Park Avenue Phase III, has obtained satisfactory approval and will be relaunched in its current building form.

Park Avenue III has re-uploaded its sales brochure, consisting of two buildings, offering a total of 892 units, with the best views in the entire phase, boasting prime views of the Shing Mun River, providing layouts from 1-bedroom to 4-bedroom units, with a focus on 3-bedroom and 4-bedroom units, the 4-bedroom units being unique to Park Avenue III.

The sales brochure shows that the smallest unit in Park Avenue III is Unit D on the 7th floor of Block 1A, with a usable area of 285 square feet, featuring a 1-bedroom layout and a 238 square feet platform; while the largest unit is Unit A on the 62nd floor of Block 1A, with a usable area of 1695 square feet, featuring a 4-bedroom double suite layout, plus a 1262 square feet rooftop.

Currently, there are about 500 units remaining for sale in Park Avenue III, set to launch in the first half of the year. Since there is limited supply of 3-bedroom or larger units above railway stations, the market has accumulated considerable potential buying power; coupled with the project’s location above the MTR station, benefiting from dual-line advantages, and featuring a large shopping mall at its base, it is believed that it will attract market attention upon launch.

Additionally, Unit A on the 62nd floor of Block 5A in Park Avenue II, with a usable area of 1207 square feet, features a 4-bedroom double suite with a workspace, enjoying open views of the Shing Mun River, was sold last year for 46.8 million HKD, with a usable price of 38,773 HKD per square foot, setting a new high for new tiered residential properties in the New Territories last year.