XN000022-1975-04-04 — Page 9

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FRIDAY, APRIL 4, 1975

MORE VACANT FLATTED FACTORY SPACES LAST YEAR

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ABOUT 2.75 MILLION SQUARE FEET OF FLATTED FACTORY ACCOMMODATION WAS LYING VACANT IN THE MAIN INDUSTRIAL AREA AT THE END OF 1974. THIS IS NEARLY 23% HIGHER THAN THE 1973 FIGURE.

DISCLOSING THIS TODAY, THE COMMISSIONER OF RATING AND VALUATION, MR. RAYMOND FRY, SAID THAT JUST OVER 1 MILLION SQUARE FEET WAS VACANT IN TSUEN WAN AND KWAÍ CHUNG WHERE BUILDING WORK DURING 1974 WAS PARTICULARLY HEAVY, OTHER AREA WHERE SUBSTANTIAL VACANCIES OCCURRED WERE SHAU KE! WAN, ABERDEEN AND NGAU TAU KOK.

HOWEVER, THE COMMISSIONER EXPLAINED THAT VACANCIES ARE NOW LESS THAN THEY WERE IN 1971 AND 1972 WHEN RECORD LEVELS WERE RECORDED AS A RESULT OF VERY HEAVY SUPPLY.

MR. FRY SAID THAT A VERY GOOD SUPPLY OF SOME 4 MILLION SQUARE FEET OF NEW FLATTED FACTORY ACCOMMODATION WAS COMPLETED DURING 1974 AND THOUGH THIS SUBSTANTIAL AMOUNT WAS HIGHER THAN THE 1973 FIGURE OF 3.3 MILLION SQUARE FEET IT WAS WELL BELOW THE 7.5 MILLION SQUARE FEET COMPLETED IN 1972 AND 7.6 MILLION SQUARE FEET COMPLETED IN 1971.

THOUGHOUT 1974 THE FLATTED FACTORY RENTAL INDEX CONTINUED ITS UPWARD COURSE BUT IT WAS NOTED THAT THE RATE OF UPWARD MOVEMENT WAS SLOWING DOWN TOWARDS THE END OF THE YEAR AND A FALL IN RENTAL LEVEL IS ANTICIPATED DURING 1975 FOR THOSE AREA WHERE VACANCIES ARE HIGEST.

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PUMPING STATION FOR LAI CHI KOK RESERVOIR ******

A PUMPING STATION WILL SHORTLY BE CONSTRUCTED AT A SITE NEAR THE ACCESS ROAD TO THE LAI CHI KOK SERVICE RESERVOIR.

WHEN COMPLETED, IT WILL SUPPLY WATER TO THE LAI KING HEADLAND HIGH LEVEL AREAS LYING BETWEEN CASTLE PEAK ROAD AND KWAI CHUNG ROAD.

THE STATION WILL HOUSE ELECTRIC PUMPS WHICH WILL DRÁW FRESH WATER FROM A 36-INCH DIAMETER TRUNK MAIN LEADING TO THE LAI CHI KOK SERVICE RESERVOIR FROM THE TSUEN WAN TREATMENT WORKS. AND PUMP THE WATER TO A NEW SERVICE RESERVOIR WHICH IS BEING CONSTRUCTED AT LAI KING HEADLAND.

CONSTRUCTION OF THE PUMPING STATION IS EXPECTED TO COMMENCE NEXT MONTH AND BE COMPLETED IN JANUARY 1976.

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