FRIDAY, SEPTEMBER 26, 1986
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LAND SOLD FOR $117.2 MILLION
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THREE PIECES OF GOVERNMENT LAND WERE SOLD FOR $117.2 MILLION AT AN AUCTION HELD AT THE CITY HALL TODAY (FRIDAY).
THE LARGEST SITE SOLD - AND ALSO THE ONE WHICH ATTRACTED MOST ATTENTION - WAS A 3 223-SQUARE-METRE LOT AT FORFAR ROAD, KOWLOON. THIS WAS PURCHASED BY WILL RISE LIMITED FOR $83 MILLION, BIDDING OPENED AT $55 MILLION.
UNDER THE LEASE CONDITIONS, NOT LESS THAN 6 400 SQUARE METRES OF GROSS FLOOR AREA MUST BE BUILT ON THE PRIVATE RESIDENTIAL SITE BY SEPTEMBER 30, 1989.
A SITE ALSO FOR PRIVATE RESIDENTIAL DEVELOPMENT AT 165 ARGYLE
BIDDING OPENED AT STREET, KOWLOON, WAS SOLD FOR $31 MILLION. $22 MILLION.
THE BUYER, PROFIT POOL PROPERTIES LIMITED, IS REQUIRED TO COMPLETE AT LEAST 2 500 SQUARE METRES OF GROSS FLOOR AREA ON THE 1 532-SQUARE-METRE SITE BY SEPTEMBER 30, 1989.
THE LAST SITE, AT SHAU KEI WAN ROAD ON HONG KONG ISLAND, WAS PURCHASED BY LEOFORD INVESTMENT CO. LTD. FOR $3.2 MILLION.
BIDDING FOR THE NON-INDUSTRIAL SITE STARTED AT $2.5 MILLION. UNDER THE SALES CONDITIONS, THE 123-SQUARE-METRE SITE CANNOT BE USED FOR GODOWN PURPOSE.
THE BUILDING COVENANT REQUIRES THAT A MINIMUM OF 260 SQUARE METRES OF GROSS FLOOR AREA MUST BE COMPLETED BY DECEMBER 31, 1989.
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COMMENTING ON THE SALES RESULTS, THE AUCTIONEER, GOVERNMENT LAND AGENT MR C.M. MO, OF THE BUILDINGS AND LANDS DEPARTMENT, SAID THE PRICES OBTAINED WERE BETTER THAN HE EXPECTED.
+ IT SHOWS THERE IS STILL KEEN INTEREST IN SITES OF THIS SORT,+ HE SAID.
YAU MA TEI OUTLINE ZONING PLAN AMENDED
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TWO AMENDMENTS TO THE YAU MA TEI OUTLINE ZONING PLAN WERE ANNOUNCED BY THE TOWN PLANNING BOARD TODAY (FRIDAY).
THE FIRST IS THE REZONING OF THE YAU MA TEI SIX STREETS+ AREA FROM GOVERNMENT-INSTITUTION-COMMUNITY+ USE AND +OPEN SPACE+ TO A +COMPREHENSIVE REDEVELOPMENT AREA+.
THE SIX