Question No. 6
Reply by Hon. D. R. Ford, LVO, OBE, JP, Secretary for Housing, to a question by Hon. Mrs. Pauline NG CHOW May-lin, in Legislative Council on 15 May, 1985
QUESTION:
Can Government inform this Council what compensation is being provided to shop tenants affected by the re-development programme of Mark I and Mark II public housing estates?
Sir,
Compensation for shop tenants affected by the
re-development programme of Mark I and Mark II estates is made
in three ways.
Firstly, cash compensation is paid to tenants
based on the size of their shop and its business potential.
A tenant of a typical shop of 22 m2 is paid HK$83,000 as compensation. Incidentally this compensation figure is
substantially more than the total rent paid by tenants during the whole period of their tenancy. For example, a tenant of a shop, who started a tenancy on 1 January 1956 and who gave
it up on 30 April 1985, will only have paid some $56,000 in rent during the whole of that 29-year period.
Secondly, and in addition to the compensation,
shop tenants affected by re-development are offered
re-provisioning in new or old estates through a system of
restricted tender.
/Thirdly