XN000022-1979-09-02 — Page 4

SUNDAY, SEPTEMBER 2, 1979

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TOWN HOUSE SITE IN SHA TIN FOR SALE

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THE FIRST TOWN HOUSE SITE IN ONE OF SHA TIN'S BEST RESIDENTIAL AREAS ORIGINALLY SET FOR SALE EARLY LAST MONTH BUT POSTPONED DUE TO TYPHOON HOPE WILL BE PUT UP FOR AUCTION NEXT THURSDAY (SEPTEMBER 6).

THE PRIME SITE ON THE NORTH-WESTERN SIDE OF SHA TIN VALLEY, MEASURING 724 SQUARE METRES, IS SITUATED MIDWAY BETWEEN THE WESTERN END OF SHA TIN RACE COURSE AND THE CHINESE UNIVERSITY, IN AN AREA KNOWN AS + THE JARDINE'S LOOKOUT OF SHA TIN,+

THE CHIEF ESTATE SURVEYOR OF THE NEW TERRITORIES ADMINISTRATION, MR. ROGER THOMPSON SAID TODAY (SUNDAY) THE GOVERNMENT INTENDED TO DEVELOP THIS AREA INTO A LOW-DENSITY TOP-CLASS RESIDENTIAL ZONE.

+ IT COMMANDS AN EXCELLENT VIEW OF THE RACE COURSE AND TIDE COVE IN ADDITION TO BEING SURROUNDED BY A GREEN BELT, HE SAID.

THE SITE, EARMARKED FOR TWO-STOREY HIGH CLASS RESIDENTIAL DEVELOPMENT, IS CONVENIENTLY LOCATED AND HAS DIRECT ACCESS TO KOWLOON AND OTHER PARTS OF THE NEW TERRITORIES VIA THE SHA TIN TRUNK ROAD,

IT CARRIES A BUILDING COVENANT OF $110 000 OVER 36 MONTHS AND A PLOT RATIO OF 0.4 WHICH RESTRICTS THE BUILDING AREA TO 674 SQUARE METRES.

MR. THOMPSON SAID LOCAL DEVELOPERS HAVE LONG SHOWN INTEREST IN SHA TIN AS AN IDEAL AREA FOR HIGH CLASS RESIDENTIAL DEVELOPMENT.

+AND THE RECENT SIGNING OF THE LEASE CONDITIONS OF THE YEE PANG HOUSING SCHEME ABOVE THE KOWLOON-CANTON RAILWAY DEPOT IN SHA TIN HAS RENEWED THEIR CONFIDENCE IN PROPERTY INVESTMENT IN THE NEW TOWN, HE SAID.

AS SHOWN BY THE AUCTION OF THE SHAM TSENG RESIDENTIAL SITE LAST THURSDAY WHICH FETCHED $5.1 MILLION - MORE THAN TWELVE TIMES THE OPENING BID - MR. THOMPSON SAID THERE WAS HEAVY DEMAND IN THE MARKET FOR LAND THAT COULD PROVIDE LOW DENSITY LUXURY FLATS.

+TO MEET THE DEMAND, HE SAID, WE ARE ALSO SELLING BY TENDER ANOTHER SIX LOTS IN THE SAME AREA TO HOLDERS OF LAND EXCHANGE ENTITLEMENT DOCUMENTS THIS MONTH.

+THEY VARY IN SIZES FROM 740 TO 9 960 SQUARE METRES AND ARE DESIGNED FOR TWO-STOREY TOWN HOUSE DEVELOPMENT, HE ADDED.

THE AUCTION ON THURSDAY WILL TAKE PLACE AT 11 A.M. AT THE SHA TIN GOVERNMENT SECONDARY SCHOOL.

FULL PARTICULARS AND CONDITIONS OF SALE MAY BE OBTAINED FROM, AND SALE PLAN INSPECTED AT, THE NEW TERRITORIES ADMINISTRATION HEADQUARTERS AND ANY OF ITS SEVEN DISTRICT OFFICES.

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