WEDNESDAY, MARCH 25, 1981
18
FIVE NT SITES SOLD FOR $67.5 MILLION
***
GOOD PRICES WERE REALISED WHEN THE NEW TERRITORIES
ADMINISTRATION SOLD FIVE SITES AT AN AUCTION LASTING 75 MINUTES AT THE SHOUSON THEATRE THIS MORNING (WEDNESDAY).
THE SITES WERE AT SHA TIN (TWO SITES), CHEUNG SHA, PENG CHAU AND SAI KUNG.
THEY REALISED $67.5 MILLION.
EXCEPT FOR THE ONE AT SAI KUNG, WHICH WAS FOR INDUSTRIAL DEVELOPMENT, THE SITES WERE FOR HIGH CLASS RESIDENTIAL DEVELOPMENT.
ONE OF THE SHA TIN SITES, MEASURING 8 025 SQUARE METRES, SOLD FOR $34.5 MILLION (34 299 PER SQUARE METRE). KAU TO, IT HAS A BUILDING COVENANT OF $6.15 MILLION TO BE FULFILLED
LOCATED AT WITHIN FOUR YEARS. THE PURCHASER WAS KEEP LUCK INVESTMENTS LIMITED. BIDDING OPENED AT $24 MILLION.
THE OTHER SHA TIN SITE, ALSO AT KAU TO, SOLD FOR $6.6 MILLION ($4 314 PER SQUARE METRE). THE BUILDING COVENANT OF $1.29 MILLION 'S TO BE COMPLETED IN 36 MONTHS BY THE PURCHASER, MR LI YEK-LEUNG. THE OPENING BID WAS $5 MILLION.
THE LARGEST SITE MEASURING 9 354 SQUARE METRES WAS AT CHEUNG SHA ON LANTAU ISLAND. IT WAS BOUGHT BY PODWOOD COMPANY LIMITED FOR $10.2 MILLION ($1 090 PER SQUARE METRE), BIDDING HAVING OPENED
$7 MILLION. THE BUILDING COVENANT IS $5 MILLION TO BE COMPLETED IN FOUR YEARS.
THE PENG CHAU SITE SOLD FOR $1.1 MILLION ($1 476 PER SQUARE METRE) AFTER SOME VERY KEEN BIDDING. THE PURCHASER WAS TONIC INVESTMENT COMPANY LIMITED, WHO WILL BE REQUIRED TO FULFILL A 450 000 BUILDING COVENANT WITHIN THREE YEARS. BIDDING FOR THE SITE OPENED AT $500 000. THE AUCTIONEER, MR TONY HARLAND, SAID: +WE DID AMAZINGLY WELL WITH THIS SITE.
THE SAI KUNG SITE WAS THE LAST TO BE SOLD IN THE TUI MIN HOT AREA FOR INDUSTRIAL DEVELOPMENT FOR SOME TIME. IT MEASURES 2 290 SQUARE METRES AND SMALL FACTORY UNITS, EACH WITH A FLOOR AREA OF NOT MORE THAN 75 SQUARE METRES, WILL BE BUILT ON THE SITE. THE PURCHASER WAS CONLEY INVESTMENT LIMITED, WHO PAID $15.1 MILLION (36 954 PER SQUARE METRE), MORE THAN DOUBLE THE OPENING BID. FOUR YEAR BUILDING COVENANT IS $7.07 MILLION.
THE
MR HARLAND SAID THE PRICES PAID WERE +GOOD, BUT NOT RECORD PRICES+.
THE SITES ARE THE LAST IN THE NEW TERRITORIES TO BE PUT ON THE MARKET THIS FINANCIAL YEAR. YESTERDAY (TUESDAY) THE NEW TERRITORIES ADMINISTRATION ANNOUNCED ITS LAND SALES PROGRAMME FOR THE NEXT SIX MONTHS, DURING WHICH 32 SITES MEASURING OVER 20 HECTARES WILL BE OFFERED.
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