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FRIDAY, NOVEMBER 11, 1977
IT MIGHT BE POSSIBLE TO ARRANGE, AT AN EXTRA CHARGE, TO HAVE THE NAME OF THE COLLECTOR EMBOSSED IN GOLD ON THE LEATHER LID.
REFERRING TO PROGRESS ON THE YEAR OF THE HORSE COIN THE SPOKESMAN SAID THAT THE MASTER TOOLS WERE NOW BEING MADE AND IT WAS EXPECTED THAT SPECIMEN PRE-PRODUCTION COINS WOULD BE RECEIVED IN THE NEXT FEW WEEKS.
MORE SAI KUNG FLATS FOR AUCTION ****
THE GOVERNMENT IS TO AUCTION ANOTHER 15 DOMESTIC FLATS IN SAI KUNG TOWN LATER THIS MONTH AND BUYERS WILL CONTINUE TO HAVE THE OPTION OF PAYING HALF OF THE PURCHASE PRICE BY ANNUAL INSTALMENTS.
THE AUCTION WILL BE HELD ON NOVEMBER 30 AT 3 P.M. AT THE SAI KUNG DISTRICT OFFICE IN THE SAN PO KONG GOVERNMENT OFFICES BUILDING, 692 PRINCE EDWARD ROAD.
THE FLATS, EACH OF 692 SQUARE FEET, ARE IN ROWS OF MODERN FIVE-STOREY BLOCKS WHICH WERE PRIMARILY BUILT TO REHOUSE LOCAL VILLAGERS AFFECTED BY THE HIGH ISLAND WATER SCHEME.
IT WILL BE THE THIRD SALE IN A SERIES OF AUCTIONS PLANNED BY THE SAI KUNG DISTRICT OFFICE TO DISPOSE OF THE FLATS WHICH WERE LEFT OVER AS SOME VILLAGERS OPTED FOR CASH COMPENSATION.
THE FIRST TWO AUCTIONS TOOK PLACE IN FEBRUARY AND SEPTEMBER THIS YEAR WHEN A TOTAL OF 14 FLATS WERE SOLD FOR OVER $1.9 MILLION. IN THE SEPTEMBER AUCTION, FLATS WERE SOLD AT PRICES RANGING FROM $136,000 TO $153,000.
THE 15 FLATS COMING UP IN THE NEXT AUCTION ARE ON THE THIRD AND FOURTH FLOORS, EXCEPT FOR ONE WHICH IS ON THE SECOND FLOOR. TWELVE ARE IN MAN NIN STREET AND THREE IN YI CHUN STREET.
EXPLAINING THE SALE CONDITIONS OF THE AUCTION, MR. DEREK DEAR, SENIOR ESTATE SURVEYOR OF THE SAI KUNG DISTRICT OFFICE SAID TODAY ALL SUCCESSFUL BIDDERS WOULD BE REQUIRED TO PAY A DEPOSIT OF $10,000 AFTER THE FALL OF THE HAMMER.
WITHIN ONE CALENDER MONTH OF THE SALE, HE SAID, THEY CAN PAY EITHER THE FULL PURCHASE PRICE, OR HALF OF THE PRICE PLUS THE FIRST OF 10 EQUAL ANNUAL INSTALMENTS FOR THE REMAINING HALF.
MR. DEAR SAID BUYERS OPTING FOR INSTALMENT PAYMENT WOULD NOT BE ALLOWED TO ASSIGN, UNDERLET OR ENTER INTO ANY AGREEMENT TO DISPOSE OF THE FLATS UNTIL THEY HAD PAID THE WHOLE AMOUNT OF THE PURCHASE PRICE.
COPIES OF THE SALE CONDITIONS CAN BE OBTAINED AND THE PLAN INSPECTED AT ALL DISTRICT OFFICES AND AT THE NEW TERRITORIES ADMINISTRATION HEADQUARTERS AT 101, PRINCESS MARGARET ROAD, KOWLOON.
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