General
7.15
The four main functions of the Valuation Branch are urban renewal and environmental improvement, renewal and regrant of renewable and non-renewable Crown leases, resumption of land required by Government for public purposes and general valuation work. To perform its duties, the Branch is divided into two Divisions, the Environmental Improvement Division and the Valuation Division, each Division comprising three Sections.
7.16
In recent years, a number of firms of Chartered Surveyors have opened offices in Hong Kong and the increasing use of professionally qualified estate developers and valuers by the private sector has introduced a greater degree of expertise into land negotiations and appeals and has tended to make the work of the Valuation Branch more complex.
7.17
A short summary of the work carried out within the two Divisions is given below.
ENVIRONMENTAL IMPROVEMENT DIVISION
Urban Renewal Section
7.18
The Urban Renewal Section is responsible for the implementation of the Urban Renewal Pilot Scheme, which involves the acquisition and clearance of decayed and obsolete property within an area of about 12 acres, in the older part of Western District, Hong Kong. During the year some 11 properties were acquired by negotiation at an aggregate cost of just over $3 million, including tenants' compensation. Resumption notices were gazetted in respect of 26 properties and evidence was given by expert witnesses before one Compensation Board which sat during the year. Compensation awarded by Boards totalled $1,447,182.62 in respect of 10 properties. Acquisition of the remaining properties is now under way with a view to completing property acquisition within the next financial year. Construction of the new road linking Hollywood Road and Queen's Road Central has commenced. Action has been initiated to complete the clearance and demolition of property and the associated rehousing of occupants to enable further public works and land sales to proceed at the earliest possible date. Three sites in the Pilot Scheme Area were sold during the year, realising a total sum of $19.7 million.
Environmental Improvement Section
7.19
This Section is responsible for the acquisition of land required for Environmental Improvements as proposed on draft and statutory town plans, mainly within the Urban Renewal District (Western District), Wan Chai and Yau Ma Tei. Thirty-eight properties were acquired by agreement at a total cost of $10,153,200 and 2 batches of properties were gazetted for resumption with an estimated compensation cost of about $2M. A review is now being conducted to establish what further minimum expenditure is necessary to make the maximum beneficial use of the sites of properties already acquired.
Regrant/Lease Renewal Section
7.20
Work continued on the regrant of non-renewable Crown leases and on the renewal of renewable Crown leases. Non-renewable leases are normally