XN000022-1977-09-21 — Page 2

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WEDNESDAY, SEPTEM

GOOD TURNOUT AT SAI KUNG FLATS AUCTION

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THE GOVERNMENT TODAY (WEDNESDAY) SOLD 10 FLATS AT SAI KUNG FOR NEARLY $1.5 MILLION.

AT A PUBLIC AUCTION ATTENDED BY ABOUT 300 PEOPLE, THE FLATS WERE SOLD IN STEADILY SPIRITED BIDDING AT PRICES RANGING FROM $136,000 TO $153,000.

THE 629-SQ. FT. FLATS ARE IN A ROW OF MODERN FIVE-STOREY BLOCKS BUILT PRIMARILY TO REHOUSE VILLAGERS AFFECTED BY THE HIGH ISLAND SCHEME.

IT WAS THE SECOND SALE IN A SERIES OF AUCTIONS PLANNED BY THE SAI KUNG DISTRICT OFFICE TO DISPOSE OF THE FLATS.

SEVEN OF THE FLATS SOLD TODAY WERE IN MAN NIN STREET AND OTHERS WERE IN YI CHUN STREET.

THE TWO FLATS WHICH ATTRACTED THE HIGHEST BIDS WERE ON THE SECOND FLOOR OF MAN NIN STREET. THEY WERE SOLD AT $153,000 AND $152,000.

OTHER MAN NIN STREET FLATS ON THE THIRD FLOOR ATTRACTED TWO BIDS OF $144,000 EACH, WHILE THE REMAINING THREE WERE SOLD FOR $142,000 EACH.

THE THREE YI CHUN STREET FLATS WENT UNDER THE HAMMER AT $142,000, $138,000 AND $136,000.

BIDDERS AT THE AUCTION HAD THE OPTION OF PAYING CASH OR 50 PER CENT DEPOSIT WITH THE BALANCE TO BE PAID IN INSTALMENTS OVER 10 YEARS.

THE SENIOR ESTATE SURVEYOR OF THE SAI MR. GORDON MOFFOOT WHO CONDUCTED THE SALE, LEAST TWO BUYERS HAD INDICATED THEY WISHED FLATS UNDER THE INSTALMENT PLAN.

KUNG DISTRICT OFFICE, SAID LATER THAT AT TO PAY FOR THE

+WE EXPECTED A GOOD TURNOUT FOR THE AUCTION, AND IT DID,+ MR. MOFFOOT SAID.

+BIDDING WAS VERY KEEN AND COMPETITIVE. IN VIEW OF TODAY'S AUCTION WE COULD EXPECT FUTURE SALES OF THE REMAINING FLATS TO ATTRACT A GREAT DEAL OF INTEREST, HE SAID.

DETAILS OF FURTHER AUCTIONS HAVE YET TO BE FINALISED, BUT MR. MOFFOOT SAID IT WAS MOST LIKELY A FURTHER SALE WOULD BE HELD IN NOVEMBER, AND AFTER THAT.AT TWO MONTHS INTERVALS,

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