million to a realized amount of some $119 million. This was largely due to the inability to offer as many large sites as in previous years. There were two particularly noteworthy sales during the year, one in Central District and the other at North Point, which realized $66 million and $30.3 million, representing $2,006 per square foot and $1,190 per square foot respectively. The permitted user for both lots was non-industrial including hotel purposes and the realized premia were payable by 10 annual instalments including interest at 10% per annum; the option to pay in this way was exercised by the purchasers in both cases and consequently the full amounts realized were not reflected in the year's revenue. Another interesting sale was that of a lot in a residential area on which the purchaser was required to erect a supermarket; this sale attracted keen competition and it is proposed to have further sales of a similar nature.
Urban Estate Division
7.04 The Urban Estate Division is divided into two sections, one each for Hong Kong and Kowloon. The Division deals with all sales, new leases and allocation of Crown land on Hong Kong Island and in Kowloon and New Kowloon, and the general administration and control of Crown land in the urban areas. During the year there were 57 lots sold by public auction or tender compared with 53 during the previous year. Trespass on Crown land by miscellaneous trades and the storage of goods continued to present some difficulties during the year although the policy of fencing sites and installing security guards went some way to alleviate this problem.
7.05 Apart from sales by public auction and tender, there was a continuing requirement for land needed for Government, institutional or community projects such as schools, hospitals, police stations, fire stations, low-cost housing, parks and playgrounds. Land for these purposes is granted by private treaty or allocated to Government Departments, and during the year 36 private treaty grants were made and there were 58 Government Land Allocations.
Property Management Division
7.06 The Property Management Division is responsible for the letting and management of premises owned but not occupied by Government, and it conducts negotiations for the letting of Government buildings and piers which are not required for the time being for
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