XN000022-1977-04-29 — Page 9

FRIDAY, APRIL 29, 1977

PRIME SITE IN CENTRAL SOLD FOR $53 M.

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A PRIME NON-INDUSTRIAL SITE IN CENTRAL WAS SOLD TODAY FOR $53 MILLION AT A PUBLIC AUCTION CONDUCTED BY THE P.W.D.'S LANDS AND SURVEY DEPARTMENT IN THE CITY HALL.

THE SITE, WHICH MEASURES ABOUT 1,780 SQ. M., IS LOCATED BETWEEN QUEEN'S ROAD CENTRAL AND LOWER LASCAR ROW, AND WAS BOUGHT BY WING TUNG HING REALTY LTD. AND KAI TAI LOY REALTY LTD. AT A REALISED PRICE OF $29,785.32 PER SQUARE METRE.

THE SITE CARRIES A BUILDING COVENANT OF $7,170,000 AND SHOULD BE DEVELOPED BEFORE JUNE 30, 1980.

TWO OTHER NON-INDUSTRIAL SITES FETCHED A TOTAL OF $2.6 MILLION.

THE FIRST, LOCATED AT NO. 11 SHAMCHUN STREET IN YAU MA TEI WAS BOUGHT BY BONO DEVELOPMENT CO. LTD FOR $1.85 MILLION -- A REALISED PRICE OF $18,407.96 PER SQ. METRE. THE LOT MEASURES JUST OVER 100 SQ. METRES AND HAS A BUILDING COVENANT OF $150,000 BEFORE JUNE 30, 1980.

THE OTHER NON-INDUSTRIAL SITE WENT TO LIP SENG INVESTMENT CO. LTD. FOR $750,000. THE 98 SQ. METRE SITE IS LOCATED AT PO FONG LANE, PO KONG VILLAGE ROAD, KOWLOON.

A PRIVATE RESIDENTIAL SITE AT NO. 989 CAPE ROAD IN CHUNG HOM KOK WAS SOLD TO PERIDOT INVESTMENT CO. LTD. FOR $2.3 MILLION, REPRESENTING A REALISED PRICE OF $1,133.51 PER SQUARE METRE. THE LOT MEASURES 2,029 SQ. M. AND HAS A BUILDING COVENANT OF $440,000 BEFORE SEPTEMBER 30, 1980.

THE AUCTION WAS CONDUCTED BY THE ACTING GOVERNMENT LAND AGENT, MR. D.M. SCOTT-WILL, OF THE P.W.D.'S LANDS AND SURVEY DEPARTMENT.

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