WEDNESDAY, JANUARY 14, 1981
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THE SITE IS CLOSE TO THE SHING MUN RIVER IN WHAT WILL BE THE CENTRE OF SHA TIN NEW TOWN.
A BUILDING COVENANT OF $84 MILLION HAS TO BE MET WITHIN FOUR YEARS (THE FIGURE WOULD HAVE BEEN HALF IF THE SITE WAS FOR RESIDENTIAL AND COMMERCIAL DEVELOPMENT).
AT THE SAME AUCTION, THE FIRST SITE FOR TAI PO NEW TOWN CENTRE WAS SOLD FOR $169 MILLION ($33 720 PER SQUARE METRE).
BIDDING STARTED AT $70 MILLION.
THE PURCHASER WAS AMPLE GAIN COMPANY LIMITED WHO WILL BUILD MAINLY RESIDENTIAL AND COMMERCIAL PROPERTY ON THE 5 012 SQUARE METRE SITE.
THE BUILDING COVENANT ON THIS SITE IS $32 MILLION TO BE FULFILLED WITHIN FOUR YEARS.
THE SITE IS THE FIRST OF NINE TAI PO NEW TOWN CENTRE SITES TO COME ON THE MARKET OVER THE NEXT THREE YEARS.
THE GOVERNMENT LAND AGENT, MR TONY HARLAND, WHO CONDUCTED THE AUCTION, SAID THE PRICE SHOWED CONFIDENCE IN THE NEW TOWN DEVELOPMENT PROGRAMME.
A FURTHER SHA TIN SITE MEASURING 1 328 SQUARE METRES WAS SOLD FOR $5.7 MILLION ($4 292 PER SQUARE METRE).
THE SITE IS FOR LOW DENSITY RESIDENTIAL DEVELOPMENT WITH A PLOT RATIO OF ONLY 0.4.
THE PURCHASER WAS REDRIDGE COMPANY LIMITED.
THE BUILDING COVENANT IS $1.12 MILLION TO BE FULFILLED WITHIN THREE YEARS.
TWO SITES AT TUI MIN HOI, SAI KUNG,
DASIDO SAI KUNG, WERE BOUGHT BY DAS IDO COMPANY LIMITED FOR A TOTAL OF $23 MILLION ($4 340 PER SQUARE METRE).
BOTH SITES ARE FOR INDUSTRIAL OR GODOWN USE AND MEASURE
2 710 AND 2 588 SQUARE METRES.
THE BUILDING COVENANTS ARE $7.8 MILLION AND $6.54 MILLION, BOTH TO BE COMPLETED WITHIN FOUR YEARS.
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