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TUESDAY, FEBRUARY 17, 1976
LAND SALE REALISES $2 M
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A 58,000 SQ. FT. PIECE OF LAND AT TA KU LING, NEAR THE LOOKOUT ON CLEARWATER BAY ROAD, SOLD FOR $2 MILLION, ALMOST DOUBLE ITS UPSET PRICE, AT AN AUCTION THIS (TUESDAY) AFTERNOON.
THE PRICE REALISED WAS $34.48 PER SQ. FT.
THE PURCHASER WAS SHIU HONG ENTERPRISES LIMITED. THERE WAS ONE OTHER BIDDER.
THE AUCTION, WHICH TOOK PLACE AT THE SAN PO KONG GOVERNMENT OFFICES, LASTED 25 MINUTES. THE UPSET PRICE WAS $1,100,000.
THE COMPANY PAID A DEPOSIT OF $140,000 AND THE BALANCE IS TO BE PAID WITHIN ONE MONTH. IT IS TO FULFIL A BUILDING COVENANT AMOUNTING TO $1,160,000 BY DECEMBER 31, 1978.
THE SITE IS TO BE USED FOR RESIDENTIAL ACCOMMODATION ONLY, SUBJECT TO A PLOT RATIO OF 0.6. NO BUILDING IS TO EXCEED TWO STOREYS IN. HEIGHT.
ONE MONTH AGO,
$20 PER SQ. FT.
LAND IN THE SAME LAY-OUT AREA SOLD FOR
THE NEXT LAND SALE IN THE SAI KUNG DISTRICT WILL TAKE PLACE ON MARCH 16.
DEATH SENTENCE COMMUTED ******
HIS EXCELLENCY THE GOVERNOR, AFTER TAKING INTO CONSIDERATION THE ADVICE OF THE EXECUTIVE COUNCIL, HAS DECIDED THAT THE DEATH SENTENCE PASSED ON JULY 17, 1975 ON CHENG MUN-YUNG SHOULD BE COMMUTED TO A TERM OF 25 YEARS' IMPRISONMENT.
CHENG WAS FOUND GUILTY OF FATALLY INJURING TAM KAM-TONG, HIS LANDLORD. DURING HIS TRIAL HE CLAIMED THAT THERE HAD BEEN TROUBLE BETWEEN HIM AND TAM ABOUT HIS TENANCY FOR OVER A MONTH BEFORE THE KILLING.
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