TUESDAY, MAY 8, 1979
5
LAND SALES REALISE $26.7 MILLION
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A RESIDENTIAL SITE AND A COMMERCIAL SITE IN TUEN MUN FETCHED A TOTAL OF $26.7 MILLION IN A PUBLIC AUCTION HELD AT THE ST. SIMON LUI MING CHOI SECONDARY SCHOOL IN TUEN MUN TODAY (TUESDAY).
THE 2,290-SQUARE METRE RESIDENTIAL SITE WAS SOLD TO KAM GA TAI CO. LTD. FOR $13.6 MILLION, OR $5,939 PER SQUARE METRE.
THE COMMERCIAL SITE MEASURING 693 SQUARE METRES WAS KNOCKED DOWN TO FOO YIK ESTATE CO, LTD. AT $13.1 MILLION AFTER STRONG BIDDING AMONG AT LEAST SIX POTENTIAL BUYERS PUSHED UP THE $4.5 MILLION OPENING PRICE.
IT REALISED AN EQUIVALENT OF $18,900 PER SQUARE METRE.
THE SENIOR ESTATE SURVEYOR OF THE TUEN MUN DISTRICT OFFICE, MR. VICTOR LEUNG, WHO CONDUCTED TODAY'S AUCTION DESCRIBED THE RESULT AS +MOST SATISFACTORY+ DESPITE THE RECENT INCREASE IN INTEREST RATES.
+THIS IS THE FIRST TIME THAT SITES EARMARKED PURELY FOR RESIDENTIAL OR COMMERCIAL DEVELOPMENT HAVE BEEN PUT ON THE OPEN MARKET IN TUEN MUN, MR. LEUNG SAID.
+THE BIDDING WAS HIGHLY COMPETITIVE AND BIDDERS WASTED NO TIME IN RAISING THEIR OFFERS, ESPECIALLY FOR THE COMMERCIAL SITE.+
THE RESIDENTIAL SITE, SITUATED IN A SCENIC SETTING BETWEEN THE CASTLE PEAK AND TUEN MUN ROADS, IS ONLY ABOUT FIVE TO 10 MINUTES DRIVE FROM THE TOWN CENTRE.
AS FOR THE COMMERCIAL SITE IN PUI TO ROAD, ITS CONDITION OF SALE ALLOWS FOR A GREAT VARIETY OF COMMERCIAL USES SUCH AS RESTAURANTS, SHOPS AND BANKING PREMISES ON THE LOWER FLOORS AND OFFICES ON THE UPPER FLOORS.
MR. LEUNG NOTED THAT ANOTHER 13 LOTS WOULD BE PUT UP FOR SALE OVER THE NEXT FIVE MONTHS EITHER BY AUCTION OR BY TENDER TO LAND EXCHANGE ENTITLEMENT HOLDERS.
+THE CONSIDERABLY INCREASED SALES PROGRAMME OVER PREVIOUS YEARS HAS RESULTED FROM THE RAPID PROGRESS OF THE LAND PRODUCTION PROGRAMME IN THE NEW TERRITORIES,+ HE ADDED.
SHORT-TERM TENANCY TENDERS
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THE CROWN LANDS AND SURVEY OFFICE OF THE PUBLIC WORKS DEPARTMENT IS INVITING TENDERS BY WAY OF ANNUAL RENTAL FOR A SHORT-TERM TENANCY OF A PIECE OF CROWN LAND AT THE WAN CHAI RECLAMATION.
THE SITE, MEASURING ABOUT 3,330 SQUARE METRES, IS FOR STORAGE PURPOSES, INCLUDING VEHICLES, AND/OR WORKS AREA.
/▲ SPOKESMAN