SERVICE ROAD
KIT LIVING
LIVING
COCKLOFT
SERVICE YARD
CAP PARK
SHOP
COCKLOFT
SERVICE SPACE
CAR PARK
SHOP
SECTION A-A
KIT
PEDESTRIA A
WAY
conditions at present prevailing in the real estate market preclude any ac- curate assessment in this respect we have been obliged to base our assess- ment on the general level of values pertaining at the end of 1964.
"The cost of acquiring the interests of the Crown lessees in the affected
property is estimated to be in the or- der of HK$43 million. In addition, the amount of compensation that might be due to domestic tenants has been assessed at about $6 million, and the amount that would become due to tenants of commercial pre- mises at about $8 million. The total cost of acquiring all interests will therefore amount to approximately $57 million, but approved road widening proposals affecting the Pilot Scheme area would in any case neces- siate the expenditure of about $1.2 million on the acquisition of land should our proposals not be imple- mented."
It is recommended that dis- possessed domestic tenants should be offered the choice of cash compensa- tion or housing in Government low- cost housing, and it is assumed that 80 per cent will choose the latter. If this assumption is correct the amount of cash compensation to domestic tenants will be greatly reduced, but expenditure on the Government low- cost housing programme would be increased if approval is given to a recommendation that the building and technical planning targets for Government low-cost housing should be increased. The amount of cash compensation to be paid by Govern- ment will also be reduced if Crown lessees opt for value for value land exchanges in lieu of cash compensa- tion.
from
The assessment of revenue land sales is complicated by the fact that the proposals will change the en- tire character of the area, and this is likely to have a marked effect on land values which cannot at present be de- termined. However the Working Party is of the opinion that the ten sites scheduled for commercial/re- sidential development within the Pilot Scheme area should realise a sum in the order of $50 million.
Thus, leaving aside the question of increased investment in the Govern- ment low-cost housing programme, and assuming the payment of cash compensation to all dispossessed domestic tenants, the deficit is assess- ed at $7 million. In the area chosen for the Pilot Scheme a financial de- ficit of somewhere between
10 per cent and 15 per cent may be expect- ed, but for this the community will get road improvements sooner than would otherwise be the case. 1.35 acres (or 10.5 per cent.) of public open space, sites for two schools and the clearance of over 12 acres of slum property.
The Commissioner of Rating and Valuation has advised the Working Party that the present annual revenue by way of rates accruing from the area amounts to $440,120. He estimates that if the area was redeve- loped as now proposed the annual re- venue from rates would amount to about $1,750,000.
52
TWYFORDS
No. 14008/1 HAND RINSE BASIN
Specially designed for
building into wall
Available with fittings at left or right hand Fittings Comprise:
No. 54003 Supply Fitting with 1/2" (13mm)
taps for low pressure supply
No. 263 Grid Waste Fitting 14" (32mm) No. 1409 Trap 14" (32mm)
No. 58001 Toilet Roll Holder
34°
9cm
3*
95cm.t
INLETS
FOR YI (3mm)
COPPER PIPE
20°
Hom
Recess for
Toilet Paper Roll
8" 20cm
16 41cm
2x 7cm
"CERAMANT”
Vitreous China
9cm
Accepted by the Council of Industrial Design for inclusion in "Design Index". SOLE AGENTS :-
DEACON & CO., LTD.
Hongkong Bank Building, Hong Kong Telephone: 236111
14
44cm
2
1.3 cm
OUTLET SCREWED
6'
MALE 16′′(32 mm) 85 PT.
15cm
Far East Architect & Builder September, 1966