11. THIS OPTION HAS ALL THE DISADVANTAGES OF OPTION 2 EXCEPT THAT
HE INITIAL CAPITAL INVESTMENT CAN BE AVOIDED. THE PREVAILING. MARKET
MONTHLY RENTALS FOR HIGH CLASS OFFICE PREMISES ARE HKD250/M2 N CENTRAL, HKD 140/M2 IN WAN CHAI AND HKD 160/M2 IN TSIM SHA TSUN EAST. IT IS NOT ENVISAGED THAT THERE SHOULD BE ANY DIFFICULTIES
IN RENTING SUITABLE ACCOMMODATION FOR THE CONSULATE-GENERAL.
POINTS TO CONSIDER
12. BEFORE PURSUING ANY OF THESE OPTIONS FURTHER, IT WOULD BE USEFUL TO HAVE A POLICY STEER ON THE WAY AHEAD. CLEARLY OPTION 1
MS THE MOST ATTRACTIVE PROPOSITION, PROVIDED THAT EITHER HMG 4S PREPARED TO PAY THE FULL MARKET VALUE FOR WHATEVER SITE IT
ACQUIRES OP SOME SPECIAL ARRANGEMENTS COULD PE AGREED WITH THE
CHINESE GOVERNMENT (AND ACCEPTABLE TO HONG KONG) FOR THE SITE TO
BE GRANTED TO HMG AT A REDUCED PREMIUM.
13. F IT IS CONSIDERED THAT, HAVING TAKEN ACCOUNT OF ALL THE POLITICAL AND ECONOMIC FACTOPS, THE DEVELOPMENTS OF A FREE- STAND PNG CONSULATE-GENERAL IS NOT A REAL PSTIC PRPOOSITION, FUTURE WORK COULD THEN CONCENTRATE ON THE REMAINING TWO OPTIONS, .E. BUYING AND RENTING. THE NEED FOR HOUSING THE BRITISH TRADE
COMMISSION AND THE BRITISH COUNCIL UNDER THE SAME ROOF AS THE
CONSULATE-GENERAL CAN ALSO BE RE-EXAMINED IN THE LIGHT OF THE COST CONSIDERATION.
ENDS
HOLLOWAY
YYYY
HMLNAN 1713
NNNN