FRIDAY, JANUARY 18, 1991
10
GOVERNMENT LOTS SOLD FOR $440.2 MILLION
*
THREE LOTS OF GOVERNMENT LAND WERE SOLD FOR A TOTAL OF $440.2 MILLION AT A PUBLIC AUCTION HELD AT THE CITY HALL TODAY (FRIDAY) BY THE BUILDINGS AND LANDS DEPARTMENT.
TOPPING THE LIST WAS THE LOT LOCATED IN AREA 6, MA WO, TAI PO, WHICH WAS BOUGHT BY BEST REWARD DEVELOPMENT
LTD. FOR $280 MILLION. BIDDING OPENED AT $200 MILLION.
THE SITE, MEASURING 12,090 SQUARE METRES, IS FOR RESIDENTIAL PURPOSES.
PRIVATE
OF
NOT
ACCORDING TO THE BUILDING COVENANT, A GROSS FLOOR AREA LESS THAN 23,940 SQUARE METRES HAS TO BE COMPLETED ON OR BEFORE MARCH 31, 1995.
THE SECOND LOT, A SITE OF ABOUT 15,030 SQUARE METRES AT THE JUNCTION OF KWOK SHUI ROAD AND CHEUNG WING ROAD IN TSUEN WAN, WAS SOLD TO GOLDSTEAD PROPERTIES LTD. AT $147 MILLION. THE BIDDING OPENED AT $100 MILLION.
IT IS FOR INDUSTRIAL AND/OR GODOWN PURPOSES.
THE BUILDING COVENANT STIPULATES THAT THE DEVELOPER HAS COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 29,500 SQUARE METRES OR BEFORE MARCH 31, 1995.
TO
ON
THE THIRD LOT IS LOCATED AT ORMSBY STREET, ΤΑΙ HANG AND MEASURES ABOUT 160 SQUARE METRES. IT WAS BOUGHT BY PERFECT RICH DEVELOPMENT LTD. FOR $13.2 MILLION AFTER THE BIDDING OPENED AT $4.5 MILLION.
THE SITE IS FOR NON-INDUSTRIAL, SERVICE APARTMENTS, PURPOSES.
EXCLUDING GODOWN, HOTEL AND
ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER HAS ΤΟ COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 768 SQUARE METRES ON OR BEFORE JANUARY 17, 1994.
THE AUCTION WAS CONDUCTED BY THE GOVERNMENT LAND AGENT, MR ROGER NISSIM, WHO SAID HE WAS SATISFIED WITH THE RESULTS.
/11