FRIDAY, FEBRUARY 12, 1982
CENTRAL PRIME SITE SOLD
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THE GOVERNMENT TODAY AWARDED A TENDER FOR A 13 400-SQUARE- METRE SITE IN CONNAUGHT ROAD CENTRAL, INLAND LOT NO. 8668, TO MULBERRY LAND CO. LTD., A WHOLLY-OWNED SUBSIDIARY OF THE HONG KONG LAND COMPANY LTD.
ANNOUNCING THIS, THE PRINCIPAL GOVERNMENT LAND AGENT.
MR P.A. WARD, SAID THAT THREE TENDERS WERE RECEIVED FOR THIS PRIME SITE.
HE SAID +UNDER THE DEVELOPMENT CONDITIONS, THE SUCCESSFUL TENDERER IS REQUIRED TO BUILD A BUS AND PUBLIC LIGHT BUS TERMINUS AT GROUND LEVEL, COVERED BY A TWO-STOREY PODIUM CONTAINING PREMISES FOR THE UNIFIED STOCK EXCHANGE, AN OPEN PEDESTRIAN PLAZA AND COMMERCIAL ACCOMMODATION.
+ABOVE THE PODIUM, OFFICE ACCOMMODATION CAN BE BUILT UP TO A TOTAL HEIGHT OF 182.5 METRES ABOVE PRINCIPAL DATUM, +
IN VIEW OF THE PRESENCE OF THE CENTRAL BUS TERMINUS AND A PLB TERMINUS ON THE SITE, MR WARD SAID, SPECIAL MEASURES WERE IMPOSED IN THE TENDER CONDITIONS TO ENSURE THAT EXISTING TRANSPORT FACILITIES WOULD BE MAINTAINED AND INCONVENIENCE TO THE PUBLIC WOULD BE MINIMISED DURING THE CONSTRUCTION PERIOD.
HE ADDED : +THE DEVELOPER IS REQUIRED TO MAINTAIN THE PLB TERMINUS UNTIL THE NEW PLB TERMINUS IS COMPLETED, ALTHOUGH HE MIGHT MAKE ARRANGEMENTS, WITH THE APPROVAL OF THE COMMISSIONER FOR TRANSPORT, TO MOVE THE TERMINUS AROUND WITHIN THE SITE AS CONSTRUCTION PROGRESSES.+
MR WARD SAID THAT THE BUS TERMINUS WOULD BE BUILT IN TWO STAGES, AND THE DEVELOPER WOULD NOT BE GIVEN POSSESSION OF THE PORTION OF THE SITE CONTAINING THE CENTRAL BUS TERMINUS UNTIL HE HAD COMPLETED CONSTRUCTION OF PART OF THE NEW BUS TERMINUS ON THE ADJACENT SITE.
+UNDER THE TENDER CONDITIONS, THE NEW PLB TERMINUS AND PART OF THE CENTRAL BUS TERMINUS SHOULD BE COMPLETED BY SEPTEMBER 30, 1984, AND THE BALANCE OF THE CENTRAL BUS TERMINUS BY MARCH 31, HE SAID.
1986, +
THE SUCCESSFUL TENDERER BID $4 755 000 000 FOR THE SITE. SIXTY PER CENT OF THIS SUM IS PAYABLE WITHIN THREE MONTHS OF THE AWARD OF TENDER AND THE REMAINING FORTY PER CENT IS PAYABLE WHEN POSSESSION OF THE CENTRAL BUS TERMINUS SITE IS GIVEN TO THE SUCCESSFUL TENDERER IN 2-1/2 YEARS' TIME.