G.S. 84
XCR (81)21
Premium
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(i)
(ii)
$13 million in respect of the MTR Station.
$70 million in respect of the Non-industrial Development.
User Restriction
MTR station and non-industrial purposes.
Development Conditions
(i) An MTR Station will be located within the
area coloured pink hatched red and pink cross hatched red on the plan,
(ii)
A ground level bus terminus, taxi rank and public light bus station will be located within the area shown coloured pink cross hatched black and blue cross hatched black on the plan.
(iii) A ten-storey building incorporating Government
(iv)
offices and commercial development will be located within the area coloured grey, blue and blue cross hatched black.
Within the areas coloured pink on the said plan and also above the Bus Terminus and below the Government Offices a non-industrial building or buildings as follows:-
(a) residential accommodation comprising
not more than three multi-storey blocks containing not more than 600 residential flats or units with a total gross floor area not exceeding 34, 320 square metres; (b) commercial accommodation comprising
not more than 7,400 square metres gross floor area.
Alienation and Management.
MTRC is required by the Conditions of Grant to allocate undivided shares in the lot as to 51% to the MTR Station and 49% to the Non-industrial Development. MTRC will retain the station but has the right to sell the whole of the commercial and residential accommodation comprising the Non-industrial Development. MTRC will give an undertaking (in a form approved by the Registrar General) to Government to the effect that MTRC will retain permanent responsibility for the proper management, maintenance and control of the Non-industrial Development. Any alienation of undivided shares in the lot will be subject to an approved Deed of Mutual Covenant and Management Agreement.
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