XN000022-1981-08-18 — Page 6

TUESDAY, AUGUST 18, 1981

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SIX NT SITES SOLD FOR $140 MILLION

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SIX LOTS OF LAND IN THE NEW TERRITORIES WERE SOLD FOR A TOTAL OF $140 MILLION HALF OF WHICH ($70 MILLION) WAS REALISED FOR A 22 570-SQUARE-METRE SITE FOR TWO-STOREY, PRIVATE RESIDENTIAL DEVELOPMENT IN SHA TIN,

THIS SITE, WITH A BUILDING COVENANT OF $12.9 MILLION TO BE COMPLETED WITHIN FOUR YEARS, WENT TO TOP SHAN LIMITED. THE PRICE PER SQUARE METRE WAS $3 101.

ANOTHER SITE IN SHA TIN FOR THE SAME TYPE OF DEVELOPMENT MEASURING 1 330 SQUARE METRES, WAS SOLD FOR $5.5 MILLION ($4 135 PER SQUARE METRE). THE PURCHASE: WAS DOUBLE WEALTHY COMPANY LIMITED, WHO WILL HAVE TO FULFIL A BUILDING COVENANT OF $1.12 MILLION WITHIN THREE YEARS.

TWO SITES IN TUEN MUN FOR INDUSTRIAL/GODOWN DEVELOPMENT REALISED A TOTAL OF $40 MILLION.

THE LARGER SITE MEASURING 2 851 SQUARE METRES SOLD FOR $22 MILLION ($7 717 PER SQUARE METRE). THE PURCHASER, EASTERN CATER ENTERPRISES COMPANY LIMITED, WILL BE REQUIRED TO MEET A FOUR-YEAR BUILDING COVENANT OF $23.14 MILLION.

THE SMALLER SITE, MEASURING 2 018 SQUARE METRES, REALISED $18 MILLION ($8 920 PER SQUARE METRE). THE PURCHASER WAS ALLIED AND ASSOCIATED ENTERPRISES (HONG KONG) LIMITED, WHOSE BUILDING COVENANT COMMITMENT IS $15.96 MILLION WITHIN A FOUR-YEAR PERIOD.

THE FIRST YUEN LONG INDUSTRIAL SITES TO BE OFFERED FOR MANY YEARS SOLD FOR A TOTAL OF $24.5 MILLION,

ONE SITE, MEASURING 2 565 SQUARE METRES WAS BOUGHT BY UNIWEL LAND DEVELOPMENT LIMITED FOR $18 MILLION ($7 018 PER SQUARE METRE). THE BUILDING COVENANT IS $15.39 MILLION TO BE FULFILLED WITHIN FOUR YEARS.

THE OTHER SITE MEASURES 1 159 SQUARE METRES AND WAS SOLD TO ANNKING ENTERPRISES LIMITED FOR $6.5 MILLION ($5 608 PER SQUARE METRE). THIS SITE HAS A BUILDING COVENANT OF $6.95 MILLION TO BE COMPLETED IN FOUR YEARS.

MR TONY HARLAND, WHO CONDUCTED THE AUCTION, DESCRIBED THE SUMS REALISED FOR THE SIX SITES AS GENERALLY SATISFACTORY+.

ONE LOT IN TAI PO NEW TOWN CENTRE, MEASURING 5 204 SQUARE

METRES, WAS WITHDRAWN,

MR HARLAND SAID THAT THE LOT WOULD PROBABLY BE OFFERED AGAIN AT THE NEXT GOVERNMENT AUCTION OF NEW TERRITORIES LAND.

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