XN000022-1977-11-28 — Page 13

MONDAY, NOVEMBER 28, 1977

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SAI KUNG FLATS FOR SALE ******

THE GOVERNMENT WILL AUCTION ANOTHER 15 DOMESTIC FLATS IN SAI KUNG TOWN ON WEDNESDAY ́ (NOVEMBER 30).

AS IN THE PREVIOUS AUCTIONS, BUYERS WILL HAVE THE OPTION OF PAYING HALF OF THE PURCHASE PRICE BY ANNUAL INSTALMENTS.

THE AUCTION IS THE THIRD IN A SERIES TO SELL THE 692-SQUARE-FOOT FLATS IN MODERN FIVE-STOREY BLOCKS BUILT PRIMARILY TO REHOUSE LOCAL VILLAGERS AFFECTED BY THE HIGH ISLAND WATER SCHEME.

THE FIRST TWO AUCTIONS HELD EARLIER THIS YEAR SAW 14 FLATS GOING UNDER THE HAMMER FOR OVER $1.9 MILLION. IN THE LAST AUCTION, FLATS WERE SOLD AT PRICES RANGING FROM $136,000 TO $153,000.

THE 15 FLATS TO BE AUCTIONED ARE ON EITHER THE THIRD OR FOURTH FLOORS, EXCEPT ONE WHICH IS ON THE SECOND FLOOR. TWELVE ARE IN MAN NIN STREET AND THREE IN YI CHUN STREET.

ALL SUCCESSFUL BIDDERS WILL BE REQUIRED TO PAY A DEPOSIT OF $10,000 AFTER THE FALL OF THE HAMMER.

THEN WITHIN ONE CALENDER MONTH OF THE SALE, THEY CAN PAY EITHER THE FULL PURCHASE PRICE, OR HALF OF THE PRICE PLUS THE FIRST OF 10 EQUAL ANNUAL INSTALMENTS FOR THE REMAINING HALF.

BUYERS OPTING FOR INSTALMENT PAYMENT CANNOT ASSIGN, UNDERLET OR ENTER INTO ANY AGREEMENT TO DISPOSE OF THE FLATS UNTIL THEY HAVE PAID THE WHOLE AMOUNT OF THE PURCHASE PRICE.

THE AUCTION WILL BE HELD ON WEDNESDAY AT 3 P.M. AT THE SAI KUNG DISTRICT OFFICE IN THE SAN PO KONG GOVERNMENT OFFICES BUILDING, 692, PRINCE EDWARD ROAD, KOWLOON.

COPIES OF THE SALE CONDITIONS CAN BE OBTAINED AND THE PLAN INSPECTED AT ALL DISTRICT OFFICES AND AT THE NEW TERRITORIES ADMINISTRATION HEADQUARTERS, 101 PRINCESS MARGARET ROAD, KOWLOON.

NOTE TO EDITORS:

YOU ARE CORDIALLY INVITED TO SEND REPRESENTATIVES TO COVER THE AUCTION ON WEDNESDAY (NOVEMBER 30) AT 3 P.M. AT THE SAI KUNG DISTRICT OFFICE IN SAN PO KONG GOVERNMENT OFFICES BUILDING, 692, PRINCE EDWARD ROAD, KOWLOON.

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