XN000022-1979-09-11 — Page 5

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TUESDAY, SEPTEMBER 11, 1979

PRESTIGE COMMERCIAL SITE FOR SALE IN YUEN LONG

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THE GOVERNMENT IS SELLING A PRESTIGE SITE IN YUEN LONG NEW TOWN FOR COMMERCIAL DEVELOPMENT, INCLUDING A MULTI-STOREY CAR PARK AND A PETROL FILLING STATION.

THE SITE, COVERING 3 038 SQUARE METRES IS LOCATED AT THE JUNCTION BETWEEN KAU YUK ROAD AND TAI TONG ROAD IN THE NEW TOWN'S BOOMING COMMERCIAL CENTRE.

THE SENIOR ESTATE SURVEYOR OF THE YUEN LONG DISTRICT OFFICE, MR. WAN MAN-YEE SAID TODAY (TUESDAY) THE SALE WOULD BE BY WAY OF TENDER RESTRICTED TO OWNERS OF LAND EXCHANGE ENTITLEMENTS ISSUED BY THE NEW TERRITORIES ADMINISTRATION AND ONLY ENTITLEMENTS GIVING THE RIGHT TO A GRANT OF BUILDING LAND WOULD BE CONSIDERED.

+THIS IS ONE OF THE BEST SITES IN THE AREA AND ITS

DEVELOPMENT WILL HELP MEET THE DEMAND FOR COMMERCIAL PREMISES IN THE DISTRICT, MR. WAN SAID.

THE SITE CARRIES SPECIAL CONDITIONS REQUIRING THE CONSTRUCTION OF A MULTI-STOREY CAR PARK FOR 350 MOTOR VEHICLES AND A PETROL FILLING STATION.

HE POINTED OUT THAT THE RAPID DEVELOPMENTS IN THE NEW TOWN HAD BROUGHT ABOUT A PARKING PROBLEM FOR AN INCREASING NUMBER OF VEHICLES AND THE CONSTRUCTION OF THE CAR PARK WOULD BE WELCOMED BY MOTORISTS.

+THE CONDITIONS OF. SALE SPECIFY A BUILDING COVENANT OF $16 850 000 OVER 36 MONTHS AND A PLOT RATIO OF 9.5 WHICH ALLOWS FOR THE CONSTRUCTION OF A COMPLEX OF MULTI-STOREY COMMERCIAL BLOCKS.

+THE COMPLEX MAY BE USED FOR A VARIETY OF COMMERCIAL PURPOSES INCLUDING BANKS, RESTAURANTS, SUPERMARKETS, SHOPS AND OFFICE ACCOMMODATION, MR. WAN ADDED.

THE TENDER IS OPEN UNTIL SEPTEMBER 21 AND PROSPECTIVE TENDERS SHOULD SUBMIT THEIR APPLICATIONS TOGETHER WITH A CHEQUE OR CASHIER ORDER OF $50 000 MADE PAYABLE TO THE HONG KONG GOVERNMENT BEFORE NOON ON THAT DAY.

TENDER FORMS, TENDER NOTICES AND CONDITIONS MAY BE OBTAINED FROM, AND SALE PLANS INSPECTED AT THE NEW TERRITORIES ADMINISTRATION HEADQUARTERS AND ANY OF ITS SEVEN DISTRICT OFFICES.

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