25-11-1993 16:42
Hicp 406/13952 8101547
RECEIVES R
- 1 DEC 1993
ON SK OFFICEF
SWIRE PROPERTIES PROJECTS LIMITED
33rd Floor. One Pacific Place, 88 Queensway, Hong Kong Telephone 8443888 · Facsimile 8101547 · Telex HX 71217
FACSIMILE
Our Ref: BCG/JDH/s1/541
P.01
0162
The Swire Group -
COMPANY
Overseas Estate Dept.
25 November 1993
TO
Mr Alex Smith
FROM:
DATE:
John Holdaway
NO. OF PAGES.
(INCLUDING THIS PAGE)
COPY TO:
2
Stephen Whittle
ANY QUERIES REGARDING THIS TRANSMISSION PLEASE CALL... 8443913
Alex
British Consulate
General. Hong Kong
URGENT
Stephen Whittle has asked me to direct correspondence absence.
to you in his
In a recent fax Stephen asked for advice on the potential value of the Consulate site given "unencumbered development rights". I have passed this to our Valuations department who have produced the accompanying valuation of the site.
This assessment assumes
commercial development.
that the site is sold on the open market for
The planning regulations would permit development of 15 times the site area in this location. The valuation assumes a speculative office development finished to an appropriate
standard.
The present day value of the HK$5,450,000,000.
Regards
Jun
John Holdaway
Encl
CCM whillle MPG
por Simms Ppu
site is
assessed to be approximately
Mrs Barnes-Jones HK Deft separate copies.
Mr
Wootter
1.
2.
3.
4.
RFD
Your minutes of 17 = 23 refer.
a
the
DED also have reservations about usry the "land value" element in calculating chamber's rent forticularly
Яво орося
involved is relatively small.
(i) a (ii) are within As Mr Worthon's options (i) a(ii) the Treasury guidelines I do not think there is my need to seek fürtler guidare from
filla Treasury.
with reference
to
my draft lette to Treasury secting full affroad to the project I still await comments from Economic Advises CRD: the latter (Mr Elam) are discussing it will B.C. I am now away until 2nd Dec. If any action is required or this aspect during my absence
please contact Steptor dimms.
Alen miel.
267179]