1
3
SUNDAY, APRIL 29, 1979
TWO SITES TO BE AUCTIONED IN TUEN MUN
*****
A LARGE PRESTIGE SITE AT THE SOUTHERN END OF TUEN MUN NEW TOWN OVERLOOKING CASTLE PEAK BAY WILL BE SOLD BY AUCTION NEXT MONTH FOR PRIVATE RESIDENTIAL DEVELOPMENT.
THE 2,290 SQUARE-METRE SITE EARMARKED FOR MEDIUM DENSITY DEVELOPMENT IS THE FIRST RESIDENTIAL LOT IN TUEN MUN TO BE PUT ON THE MARKET THIS YEAR.
IT CARRIES A PLOT RATIO OF 3.3 WHICH ALLOWS FOR THE CONSTRUCTION OF FIRST-CLASS MULTI-STOREY BLOCKS.
ALSO ON SALE DURING THE AUCTION AT ST. SIMON LUI MING CHOI SECONDARY SCHOOL IN TUEN MUN AT 2.30 P.M. ON MAY 8 WILL BE A 693.1 SQUARE-METRE COMMERCIAL SITE IN THE NEW TOWN'S BOOMING INDUSTRIAL AREA.
THE SENJOR ESTATE SURVEYOR OF THE TUEN MUN DISTRICT OFFICE, MR. VICTOR LEUNG SAID TODAY (SUNDAY) THE AUCTION WAS PART OF THE GOVERNMENT'S INCREASED SALES PROGRAMME TO MAKE MORE LAND AVAILABLE FOR INDUSTRIAL, COMMERCIAL AND RESIDENTIAL DEVELOPMENTS.
+BOTH SITES ARE CONVENIENTLY LOCATED AND HAVE EASY ACCESS TO
THE DISTRICT'S TRUNK ROAD NETWORK, HE SAID.
+THE RESIDENTIAL SITE IS PARTICULARLY ATTRACTIVE - IT IS IN A SCENIC SETTING BETWEEN THE CASTLE PEAK AND TUEN MUN ROADS, AND WITHIN FIVE TO 10 MINUTES' DRIVE FROM THE TOWN CENTRE.+
MR. LEUNG SAID THE COMMERCIAL SITE IS WELL LOCATED IN THE INDUSTRIAL AREA BOUNDED BY PUI TO ROAD AND TSING WUN ROAD AND WAS SPECIALLY DESIGNED FOR A MULTI-STOREY COMMERCIAL COMPLEX.
ITS CONDITIONS OF SALE ALLOW FOR A GREAT VARIETY OF COMMERCIAL USES SUCH AS RESTAURANTS, SHOPS AND BANKING PREMISES ON THE LOWER FLOORS AND OFFICES ON THE UPPER FLOORS.
THE FIRST LOT CARRIES A BUILDING COVENANT OF $5,920,000 OVER 48 MONTHS AND THE SECOND LOT HAS A BUILDING COVENANT OF $1,500,000 OVER 36 MONTHS.
+NUMEROUS ENQUIRIES ABOUT THESE TWO SITES HAVE BEEN RECEIVED, AND IT IS OBVIOUS THAT LOCAL DEVELOPERS HAVE A GREAT DEAL OF INTEREST IN THEM,+ MR. LEUNG SAID.
*WE HAVE QUITE A NUMBER OF SITES COMING ON STREAM THIS YEAR AND IT IS PLANNED TO SELL ANOTHER 13 LOTS OVER THE NEXT FIVE MONTHS EITHER BY AUCTION OR BY TENDER RESTRICTED TO HOLDERS OF LAND EXCHANGE ENTITLEMENT DOCUMENTS, HE ADDED.
14