Henderson applied to the Lands Tribunal for compulsory purchase of the remaining 3 units, but this became unnecessary following an operation with Peterson Holdings Co Ltd.

Prior to the launch, Henderson has suggested it might ask HK$100,000 psf for the two penthouse apartments on the "88th floor" not on the initial sale list.

[8] The record price set off concerns about a property bubble, and talk of the possibility of liberalising the supply of building land from the government.

The SCMP noted that all 24 flats sold on the first day were bought by BVI-registered shell companies, and were handled by the same firm of solicitors.

Market scepticism of the record prices achieved were due principally to the apparent over-valuation – the average price achieved was $40,000/sf, said to be at least 50 percent higher than an equivalent property nearby on Robinson Road according to estate agencies; a typical property would yield gross rental of two percent, compared to the market average of five.

[15] In May 2010, after having paying HK$1.82 billion for a plot of land on the Peak for the family residence, Lee Shau-kee admitted his son had considered the penthouse at the development, but was deterred by the asking price.

It is already common in Hong Kong for ~4th floors not to exist; there is no requirement by the Buildings Department for numbering other than that it being "made in a logical order.

"[4] The Consumer Council recognised the accepted common practice of skipping the 13th and 14th floors, but suggested that developers "imaginary heights brought back to earth.

"[14] Henderson said that the floor numbers omitted are in line with information in sales brochures and were not inconsistent with the approved building plans and the occupation permit.

[9] An editorial in Ming Pao said: "Though developers have used controversial marketing gimmicks, the government has rarely exercised its powers to protect consumers.

"[18] As at the end of March 2010, Land Registry records show only one of the 24 flats sold had been completed on, giving rise to concerns that the developer might have released misleading information.

[20] Following the response, which was not made public, the Lands Department made a second request for more information from the developer; a four-page response was received, in which Henderson explained it allowed the buyers, all unconnected with Henderson, to extend the transaction deadline after the Hong Kong Monetary Authority issued a notice on 23 October to banks to reduce lending to finance purchase of luxury homes.

[21] On 15 June, Henderson's announcement that all but four of the 24 properties at the development sold in October for record prices had been cancelled was met by uproar.

[22][23] Current regulations in force are not codified, and are in the form of a voluntary code of conduct agreed with the Property Developers' Association.

The Hong Kong Institute of Surveyors said the sale cancellation had done "serious damage to the developer's image and integrity"; legislators from across the political spectrum called for an investigation and further action to deal with market abuses.