Wai Tung Yu

Partner | Property

waitung.yu@deacons.com

+852 2825 9654

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Wai-Tung has extensive experience in all aspects of property-related transactions including sale and purchase of residential, commercial and industrial properties in secondary market, disposal and acquisition of en-block premises,  conditional purchase of units for re-development purpose, intra-group transfer, sale by mortgagee or receiver,  tender sale, property mortgage financing, tenancies, leasing back, and other complicated conveyancing matters.

He specialises in title checking of different kinds of properties and conducting due diligence exercise on property ownership/encumbrances in shares sale and other commercial transactions.

He has a particular focus on the project sale work governed by Consent and Non-Consent Schemes. He represented a large number of major real estate developers and statutory bodies in drafting the Deed of Mutual Covenant and project sale documents; dealing with the Government for obtaining pre-sale consent and other relevant approvals; and handling the sale of project units during and after construction stage.

He also advises on compliance with the Residential Properties (First-hand Sales) Ordinance and many complex issues within the scope of land law.

Highlights

• Acting for Urban Renewal Authority in acquisition of several hundreds of units in a number of buildings located at Kwun Tong and Sham Shui Po and dealing with the sitting tenants and licensees. These large scale projects involve the resumption exercise by the Government and the re-grant of lands to Urban Renewal Authority pursuant to urban renewal policy.
• Acting for Urban Renewal Authority in application for approval to the Deed of Mutual Covenant and the pre-sale consent of The Avenue at Wanchai which comprises 2 phases and more than 1,000 residential units.
• Currently acting for the subsidiaries of several listed companies in drafting the deeds of mutual covenant, preparing the pre-sale documents, submission of the necessary application for governmental approval relating to their developments under construction.
• Acting in the purchase of shops in the podium of new composite development with the consideration of more than HK$400 million. The title checking exercise involves more than 470 title deeds.

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