XN000022-1978-07-24 — Page 5

MONDAY, JULY 24, 1978

GOVERNMENT TO SELL PRESTIGE RESIDENTIAL SITE AT SHA TIN

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THE GOVERNMENT IS OFFERING FOR SALE A PRESTIGE, MEDIUM-DENSITY RESIDENTIAL SITE AT SHA TIN NEW TOWN WHICH OVERLOOKS THE FULL FOLTAN VALLEY AND COMMANDS A SWEEPING VIEW OF THE SHA TIN RACECOURSE.

THE SALE OF THE 1.96 HECTARES (ABOUT 4 ACRES) SITE IS BY TENDER RESTRICTED TO HOLDERS OF LAND EXCHANGE ENTITLEMENT DOCUMENTS ISSUED BY THE NEW TERRITORIES ADMINISTRATION.

THE ACTING SENIOR ESTATE SURVEYOR OF THE SHA TIN DISTRICT OFFICE, MR. DENIS RAGGETT, SAID TODAY THAT THE SITE WAS IDEAL FOR HIGH QUALITY RESIDENTIAL DEVELOPMENT.

+THIS IS ONE OF THE BEST SITES IN THE NEW TOWN AND ITS DEVELOPMENT WILL BE CONTROLLED TO ENSURE THAT IT IS PUT TO THE BEST USE, HE SAID.

+THE SUCCESSFUL TENDERER WILL BE REQUIRED TO PROVIDE ROADS. DRAINAGE, STREET LIGHTING AND OTHER SUCH FACILITIES TO COMPLETE THE FORMATION OF THE SITE, WHICH IS A PLATFORM CARVED FROM A BORROW AREA BY THE JOCKEY CLUB CONTRACTORS.

+THE DEVELOPER WILL ALSO BE REQUIRED TO SUBMIT A DETAILED LAYOUT PLAN AND A SCALE MODEL OF THE PROPOSED DEVELOPMENT WITHIN SIX MONTHS OF THE SALE BEFORE BUILDING APPROVAL CAN BE GIVEN.+

MR. RAGGETT SAID THE SALE CONDITIONS CARRIED A BUILDING COVENANT OF $13.78 MILLION TO BE FULFILLED WITHIN FOUR YEARS.

HE SAID THE PLOT RATIO OF THE SITE WAS VARIED TO ALLOW THE DEVELOPER SCOPE TO PRODUCE A GROSS FLOOR AREA OF 300,000 SQUARE FEET.

TENDER

THE TENDER WILL CLOSE AT NOON ON AUGUST 18 THIS YEAR. FORMS AND CONDITIONS OF GRANT CAN BE OBTAINED FROM THE NEW TERRITORIES ADMINISTRATION HEADQUARTERS, 5TH FLOOR, HOUSING AUTHORITY BUILDING, 101 PRINCESS MARGARET ROAD, KOWLOON, OR ANY OF THE NTA'S SEVEN DISTRICT OFFICES.

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