TUESDAY, NOVEMBER 29, 1988
FOUR GOVERNMENT LOTS SOLD FOR OVER $800 MILLION
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FOUR GOVERNMENT LOTS WERE SOLD AT A PUBLIC AUCTION TODAY (TUESDAY) FOR A TOTAL REALISED PREMIUM OF $802.5 MILLION.
ONE OF THE LOTS IS LOCATED AT HOI BUN ROAD IN KWUN TONG, AND IS FOR NON-INDUSTRIAL PURPOSES INCLUDING A MULTI-PURPOSE CAR PARK, BUT EXCLUDING RESIDENTIAL, HOTEL AND GODOWN,
THE AREA IS ABOUT 4.500 SQUARE METRES. THE DEVELOPER IS REQUIRED TO COMPLETE NOT LESS THAN 29,000 SQUARE METRES OF GROSS FLOOR AREA ON THE SITE BEFORE DECEMBER 31, 1992.
BIDDING STARTED AT $120 MILLION AND THE LOT WAS SOLD TO OLINDA LIMITED FOR $420 MILLION.
THE SECOND LOT IS AT BAILEY STREET IN HUNG HOM.
MEASURING ABOUT 2,472 SQUARE METRES IN AREA, THE LOT IS FOR NON-INDUSTRIAL PURPOSES EXCLUDING GODOWN AND HOTEL.
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THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 10,600 SQUARE METRES BEFORE DECEMBER 31, 1991.
BIDDING FOR THIS LOT STARTED AT $80 MILLION AND WAS SOLD TO SIDAR INVESTMENT LTD FOR $196 MILLION.
THE THIRD LOT, WHICH IS FOR PRIVATE LOCATED AT TAT CHEE AVENUE, YAU YAT CHUEN.
RESIDENTIAL PURPOSES, IS
THE AREA OF THE LOT 15 ABOUT 4.250 SQUARE METRES, AND THE DEVELOPER IS REQUIRED TO COMPLETE NOT LESS THAN 5,400 SQUARE METRES OF GROSS FLOOR AREA BEFORE DECEMBER 31, 1992.
BIDDING STARTED AT $80 MILLION AND WAS BOUGHT BY EVER GREAT DEVELOPMENT LTD FOR $156 MILLION.
THE LAST LOT IS IN THE TUNG TAU INDUSTRIAL AREA IN YUEN LONG.
WITH AN AREA OF ABOUT 1, 735 SQUARE METRES, THE LOT IS FOR INDUSTRIAL AND/OR GODOWN PURPOSES EXCLUDING OFFENSIVE TRADE.
THE BUILDING CONVENANT STIPULATES THAT THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 8,328 SQUARE METRES BEFORE DECEMBER 31, 1992.
BIDDING STARTED AT $15, MILLION AND THE SITE WAS SOLD ΤΟ MAIN CROWN INVESTMENT LTD FOR $30.5 MILLION.
THE AUCTION TOOK PLACE AT THE SHOUSON THEATRE OF THE HONG ARTS CENTRE AND WAS CONDUCTED
GOVERNMENT LAND AGENT. MR
KONG
BY
NIGEL
RURLEY.
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