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WEDNESDAY, SEPTEMBER 16, 1981
FOUR NEW TERRITORIES SITES SOLD FOR $202 MILLION
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FOUR NEW TERRITORIES SITES WERE SOLD FOR A TOTAL OF $202.25 MILLION AT AN AUCTION TODAY (WEDNESDAY).
A 6 800 SQUARE METRE SITE IN KWAI CHUNG FOR COMMERCIAL/ RESIDENTIAL USE WAS BOUGHT BY U-WAI INVESTMENT COMPANY LIMITED FOR $170 MILLION,
THE PURCHASER IS REQUIRED TO BUILD A CINEMA FOR 500 PERSONS AND TO COMPLETE A BUILDING CONVENANT OF $65 MILLION WITHIN FOUR AND A HALF YEARS. THE MAXIMUM PLOT RATIO FOR DOMESTIC BUILDINGS IS FIVE AND FOR NON-DOMESTIC BUILDINGS 9.5.
A RESIDENTIAL SITE IN SHA TIN, MEASURING 1 654 SQUARE METRES WAS SOLD FOR $7.25 MILLION TO HANSTEAD COMPANY LIMITED WHICH HAS TO FULFIL A BUILDING COVENANT OF $1.39 MILLION WITHIN THREE YEARS. IT IS FOR TWO-STOREY DEVELOPMENT.
THE REMAINING TWO SITES OFFERED FOR AUCTION ARE IN TUEN MUN AND FOR INDUSTRIAL/GODOWN DEVELOPMENT. BOTH OF THEM WENT TO REALITY ENTERPRISES HONG KONG LIMITED.
THE LARGER ONE, MEASURING 1 777 SQUARE METRES, WAS SOLD FOR $12.5 MILLION. IT HAS A FOUR-YEAR BUILDING COVENANT OF $14.6 MILLION AND THE MAXIMUM PLOT RATIO IS 9.5.
THE OTHER SITE MEASURES 1 723 SQUARE METRES AND HAS A BUILDING COVENANT OF $14.1 MILLION, ALSO TO BE COMPLETED WITHIN FOUR YEARS. THE MAXIMUM PLOT RATIO IS 9.5 AND THE PRICE PAID WAS ALSO $12.5 MILLION.
THE AUCTION, AT THE CITY HALL THEATRE, WAS CONDUCTED BY THE ACTING GOVERNMENT LAND AGENT OF THE NEW TERRITORIES ADMINISTRATION, MR C.M. MO.
URBAN CLEARWAY FOR LOK LO HA
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AN UNNAMED ROAD WEST OF THE PUBLIC OPEN-SPACE CAR PARK IN LOK LO HA, SHA TIN, WILL BE DESIGNATED A 24-HOUR CLEARWAY ZONE FROM 10 AM ON MONDAY, SEPTEMBER 21.
ALL VEHICLES EXCEPT FRANCHISED BUSES WILL BE PROHIBITED FROM PICKING UP OR SETTING DOWN PASSENGERS AND GOODS WITHIN THE CLEARWAY.
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