XN000022-1979-09-08 — Page 2

SATURDAY, SEPTEMBER 8, 1979

THREE SAI KUNG SITES FOR SALE

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THREE VALUABLE SITES IN SAI KUNG -- TWO AT TUI MIN HOI AND ONE AT RAZOR HILL - ARE BEING OFFERED FOR SALE BY TENDER TO HOLDERS OF LAND EXCHANGE ENTITLEMENTS ISSUED BY THE NEW TERRITORIES ADMINISTRATION.

THE TWO TUT MIN HOI SITES, MEASURING 3 231 AND 2 638 SQUARE METRES, ARE EARMARKED FOR INDUSTRIAL USE WHILE THE RAZOR HILL LOT

IS FOR HIGH-CLASS VILLA-STYLE HOUSING.

THE TWO SITES ARE NEXT TO THE FIRST INDUSTRIAL SITE IN THE AREA SOLD IN JULY THIS YEAR FOR $6 370 PER SQUARE METRE - THE HIGHEST LAND PRICE ON RECORD IN THE DISTRICT.

ACCORDING TO THE SENIOR ESTATE SURVEYOR OF THE SAI KUNG DISTRICT OFFICE, MR. DAVID LAU, TUI MIN HOI IS BEING OPENED UP AS A LIGHT INDUSTRIAL AREA AND, WHEN FULLY DEVELOPED, WILL HELP EASE THE SHORTAGE OF FACTORY SPACE IN THE URBAN AREAS.

+THE SITES HAVE GOOD CONNECTION TO CLEARWATER BAY ROAD WHICH IS BEING WIDENED TO DUAL TWO-LANE CARRIAGEWAY,+ MR. LAU SAID.

+AND THE ADEQUATE POOL OF LABOUR AVAILABLE IN THE DISTRICT WILL BE AN ADDED ADVANTAGE TO FACTORIES SET UP IN THE AREA.+

HE SAID THE LOTS CARRIED RESPECTIVE BUILDING COVENANTS OF $5 220 000 AND $4 260 000 OVER 30 MONTHS AND A MAXIMUM PLOT RATIO OF 4 WHICH RESTRICTED THE HEIGHT OF THE DEVELOPMENT TO NOT MORE THAN 16.7 METRES (OR 55 FEET).

THE SALE CONDITIONS ALSO STIPULATE SPECIAL REQUIREMENTS ON SMOKE CONTROL AND THE DISCHARGE OF TRADE EFFLUENT TO ENSURE A POLLUTION-FREE ENVIRONMENT.

THE SITE AT RAZOR HILL IS SITUATED AT THE FOOT OF THE HILL NEAR PAK SHEK WO TO THE SOUTH OF CLEARWATER BAY ROAD.

THE 6 336 SQUARE-METRE LOT CARRIES A BUILDING COVENANT OF $4 750 000 TO BE FULFILLED WITHIN 36 MONTHS AND IS BASICALLY RESTRICTED TO THREE STOREY DEVELOPMENT.

SAID MR. LAU: +IT IS IN A VERY SCENIC SETTING AND IS IDEAL FOR VILLA-TYPE HOUSING,

+ITS LOCATION WILL BE OF GREAT INTEREST TO DEVELOPERS BECAUSE IT IS IN THE SUBURB, YET ONLY WITHIN 20 MINUTES' DRIVE FROM KOWLOON.+

TENDERS FOR THE THREE LOTS WILL CLOSE ON SEPTEMBER 21.

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

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