CO129-628-6 The China Light and Power Company 1-9-1950 - 30-9-1950 — Page 5

Sec. 95/3091/50

SAVINGRAM

To the Secretary of State for the Colonies.

5

Officer Administering the Government, Hong Kong. From the Governor, Hong Kong

End

it

Date

7

September, 1950

No.

964

Grateful for approval of the sale by private treaty of 480 square feet of land at Kowloon Tsai to the China Light and Power Company for the purpose of erecting an electrical substation on the following terms:-

(1)

(2)

Usual New Territories lease term of 75 years from the 1st July 1898 renewable for one further term of 24 years less the last three days at a revised Crown rent.

Premium of $2,160 at the normal upset price of $3 per square foot for public auction of land in the locality, plus 50% for the concession of sale by private treaty.

(3) Normal Crown rent for the locality at the rate of

$1,000 per acre, viz. 812.00.

(4)

(5)

(6)

(7)

2.

Building Covenant of $6,000 to be completed within twelve months.

Use of the land to be restricted to an electrical substation.

Prohibition against assignment, underletting or other disposal of the lot without the consent of Government.

Reversion to the Crown without compensation in the event of any breach of the conditions.

The substation is required to provide power for a new housing estate comprising 92 dwellings now under construc- tion. The site selected is considered to be the most suitable one for the purpose and it is undesirable to put it to public auction since the China Light and Power Company might not be the successful bidder.

3. Executive Council agrees that your approval may properly be accorded in this case. Grateful for early reply by telegram as two houses are already nearing completion.

11 SEP 1951

REGISTE