XN000022-1979-07-02 — Page 2

MONDAY, JULY 2, 1979

LARGE AREA OF LAND FOR SALE IN THE NEW TERRITORIES

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THE GOVERNMENT IS TO SELL A HUGE SITE IN TUEN MUN FOR HIGH-QUALITY PRIVATE RESIDENTIAL DEVELOPMENT WHICH COULD PROVIDE HOMES FOR ABOUT 5,000 PEOPLE.

THE SITE, MEASURING MORE THAN 1.57 HECTARES, IS THE LARGEST RESIDENTIAL SITE EVER PUT ON THE MARKET IN THE NEW TOWN.

IT WILL BE OFFERED FOR SALE BY TENDER TO REGISTERED HOLDERS OF LAND EXCHANGE ENTITLEMENTS ISSUED BY THE NEW TERRITORIES ADMINISTRATION,

SITUATED IN CASTLE PEAK ROAD, THE SITE IS ONLY ABOUT A FEW MINUTES' WALK FROM THE POPULAR CAFETERIA BEACH AND ABOUT 10 MINUTES' DRIVE FROM THE FAST DEVELOPING TUEN MUN NEW TOWN.

THE SENIOR ESTATE SURVEYOR OF TUEN MUN DISTRICT OFFICE, MR. VICTOR LEUNG, SAID TODAY (MONDAY) THE SITE IS IN A VERY SCENIC SURROUNDING WITH SEAVIEWS ACROSS THE CASTLE PEAK BAY AND IS SUITABLE FOR MEDIUM DENSITY RESIDENTIAL DEVELOPMENT.

+ IT CARRIES A BUILDING COVENANT OF $40 MILLION TO BE FULFILLED WITHIN FOUR YEARS AND A PLOT RATIO OF 3.3 WHICH ALLOWS FOR THE CONSTRUCTION OF HIGH CLASS MULTI-STOREY BLOCKS HAVING A MAXIMUM GROSS FLOOR AREA OF 51,876 SQUARE METRES.+

MR. LEUNG FORECAST THAT THIS SITE SHOULD ATTRACT CONSIDERABLE INTEREST FROM DEVELOPERS AS A MUCH SMALLER SITE IN THE SAME AREA FETCHED MORE THAN $5,900 PER SQUARE METRE IN A PUBLIC AUCTION IN MAY THIS YEAR.

AT THE SAME TIME, THE GOVERNMENT IS PUTTING UP FOR SALE TWO OTHER RESIDENTIAL ́AND SIX INDUSTRIAL SITES IN THE NEW TERRITORIES, ALSO TO HOLDERS OF LAND EXCHANGE DOCUMENTS.

ONE OF THE RESIDENTIAL SITES, OF 3,850 SQUARE METRES, IS IN THE SAME LAYOUT AS THE LARGE TUEN MUN SITE.

AS THE AREA WILL BE DEVELOPED ON A HILLSIDE PLATFORM, IT WILL ALSO OVERLOOK THE SEA.

THE OTHER RESIDENTIAL SITE IS LOCATED ON THE HILLSIDE OPPOSITE THE PROPOSED KOWLOON-CANTON RAILWAY DEPOT IN SHA TIN, OVERLOOKING SHA TIN HOI.

/IT HAS