hu Surveyors
Page. Z
In view of the impending resumption and to cooperate with the proposed road scheme, we are instructed to apply for an contemporaneous exchange for the grant of the adjoining site as shown coloured red on the attached plan. We are of the opinion that this land exchange is fully justified on the following grounds:
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2)
The proposed site coloured red is physically ideal for industrial uses as being sandwiched between two existing factory buildings and yet served by a rear cul-de-sac.
This proposed site is not affected by any road improvement scheme.
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We note that this proposed site is currently earmarked for District Open Space. However the site is zoned for Industrial on the Kwai Chung Outline Zoning Plan. Indeed the use as an open space is highly undesirable as this site forms part of the triangular island site bounded by major roads with poor pedestrian access from other areas.
This proposed site is approximately of the same size of the subject lot to be resumed. By way of a land exchange,
we strongly feel that the 50 hectare limition in land disposal does not apply in this case.
Further, we would draw your attention to the prime location of the subject lot with its existing factory being let for a 3-year tem with a rent of $140,000 per month. You would no doubt appreciate that the proposed resumption will lead
to substantial compensation payable by Goverment. Indeed, if the adjoining site can be made available for exchange with a plot ratio of 9.5, the compensation may be off-set by the premium.
Finally, you would note that our client has continously attempted to redevelop the lot by way of nodification to more intensive redevelopment. Their application for modification or land exchange can be traced up to 1980. Correspondence in your file Reference INI 86/WL1/59 refers.
In view of the above, we shall be glad if you would consider favourably our client's application and we look forward to receiving your carly reply.
Yours Taithfully,
the
Vincent Cu Surveyors
c.c. Client
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