1
however the man-in-charge of the site of Allways Garden that the fou phase had been reserved by the MTR. We had evidence in hand and the authority could in no way deny this fact. The price of the A.G. at that time was listed clearly in the above mentioned letter from Mr. Wilkins, the Commissioner, and it was HK$230 per sq. ft. But now, the MTR, under the grand excuse of recommending us to buy the A.G., quoted a price of HK$410 per sq. ft. From this case, let's disregard wether the authority have had reserved any dwelling units in Allways Garden, it could be proved that within the period of August 1978 to Feb 1979, the price of Allways Garden had gone up by 83%. However in assessing the value of our seven blocks, the authority gave a HK$260 per sq. ft. in the first assessment on 19th Sept. 1978, and HK$310 in the second assessment on 9th Jan 1979 (the authority had retained the value of the buildings at that of the one on 12th Nov 1978), the rise was only 19.23%.
SAI LAU KOK
PRICE IN 8/9 1978
HK$260.00/sq. ft.
PRICE IN 3/4 1979
HK$310.00/sq. ft.
RISE IN%
19.23%
ALLWAYS GARDEN
HK$230.00/sq. ft.
HK$422.00/sq. ft.
83.47%
COMPARISION
S.L.K.>A.G. 13%
A.G.S.L.K. 34%
Diff. = 64.24%
We humbly request the authority concerned to explain the case with regard to the table listed above.
Moreover, before Hopewell Co. began to sell the Block K & L of Allways Garden, the MTR officers had tried their best to persuade those flat-owners who had intended to buy a dweling unit in Allways Garden that the price which would be listed by Hopewell Co. would be much higher than the "special price" obtained by the MTR and offered to us. They also proclaimed that the Hopewell Co. had urged them to settle these "special price" units immediately. But, when those flat-owners were instructed to sign the purchase contract with Hopewell Co., they were also compelled to sign another document called Form-A (copy attached); otherwise, the transaction become invalid.
In the previous negotiations between our representatives and Mr. T. Harland & Mr. M. Philip of M T R office, they had all been denying the matter concerning the "flat-for-flat" compensation term. They only stressed the point that they were only the middle-man and assisting us to purchase the Allways Garden. However, since the down payment would be paid by the M T R directly to the Hopewell Co. on behalf of the owners,
- 8 -