FRIDAY, NOVEMBER 27, 1987
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SALE OF FOUR LOTS FETCHES $806.5 MILLION
AN INDUSTRIAL SITE AT KOWLOON
BAY RECLAMATION WAS SOLD
FOR
$470 MILLION AT AN AUCTION HELD AT THE CITY HALL TODAY (FRIDAY).
FOR THE
22,280-SQUARE-METRE
BIDDING MILLION. GRAINBOW LTD WAS THE SUCCESSFUL BIDDER.
SITE
STARTED
AT
$200
то COMPLETE
METRES
A BEFORE
UNDER THE BUILDING COVENANT, THE DEVELOPER HAS
THAN AREA OF NOT LESS GROSS FLOOR
70,000 SQUARE DECEMBER 31 1992 FOR INDUSTRIAL/GODOWN OR TRADE MART PURPOSES.
+
TWO OTHER INDUSTRIAL SITES IN THE SOLD AT THE AUCTION.
NEW TERRITORIES WERE ALSO
ONE IS LOCATED AT YUEN CHAU KOK IN SHA TIN AND COVERS
IT IS FOR INDUSTRIAL AND/OR OF ABOUT 4,582 SQUARE METRES. DEVELOPMENT BUT NOT FOR OFFENSIVE TRADES.
AND
BIDDING STARTED AT $30 MILLION BEECHCROFT INVESTMENT LTD FOR $53 MILLION.
AN AREA GODOWN
THE SITE WAS BOUGHT BY
THE PURCHASER IS REQUIRED TO COMPLETE AT
1991. METRES OF GROSS FLOOR AREA BY NOVEMBER 30,
LEAST 13.746 SQUARE
WITH AN AREA OF PURPOSES, BUT
THE OTHER ONE IS AT ON LOK TSUEN IN FANLING ABOUT 2,563 SQUARE METRES FOR INDUSTRIAL AND/OR GODOWN ALSO NOT FOR OFFENSIVE TRADES.
BIDDING OPENED
AT $13
MILLION AND
THE SITE
WAS
SOLD
TO
BIGINNI LTD FOR $18.5 MILLION.
THE DEVELOPER HAS TO COMPLETE AT LEAST 7,689 SQUARE
1991. GROSS FLOOR AREA BY DECEMBER 31,
METRES
OF
IN ADDITION,
A
PRIVATE
RESIDENTIAL
SITE
WAS SOLD
AT
THE
AUCTION.
METRES, THE SITE IS MUN, NEAR THE PRIVATE SECTOR
COVERING AN AREA OF ABOUT 19,460 SQUARE
TUEN OF LOCATED AT THE TOWN CENTRE PARTICIPATION SCHEME, CHI LOK FA YUEN.
BIDDING FOR THE SITE STARTED AT $160 MILLION AND THE PURCHASED BY DYNAMIA CO. LTD FOR $265 MILLION.
SITE WAS
THE BUYER IS REQUIRED TO COMPLETE A GROSS LESS THAN 38,530 SQUARE METRES BY DECEMBER 31, 1991.
THE AUCTION WAS CONDUCTED BY GOVERNMENT MO, OF THE BUILDINGS AND LANDS DEPARTMENT.
FLOOR AREA OF
NOT
LAND AGENT, MR C.M.
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