XN000022-1981-11-27 — Page 15

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FRIDAY, NOVEMBER 27, 1981

306, KING'S ROAD, NORTH POINT, HONG KONG.

40-50, DES VOEUX ROAD WEST, HONG KONG.

1, YUE MAN SQUARE, WUN TONG, KOWLOON.

42, WONG CHUK HANG ROAD, ABERDEEN, HONG KONG.

1, HYSAN AVENUE, CAUSEWAY BAY, HONG KONG.

FIVE NT LOTS SOLD ****

FIVE LOTS OF CROWN LAND IN THE NEW TERRITORIES WERE SOLD AT AN AUCTION TODAY (FRIDAY). ANOTHER LOT AT YUEN LONG FOR GODOWN DEVELOPMENT WAS WITHDRAWN WHEN THERE WERE NO BIDS.

THE FIRST SITE AT TAI PO NEW TOWN CENTRE WHICH IS FOR COMMERCIAL AND RESIDENTIAL DEVELOPMENT WAS SOLD FOR $81 MILLION.

THE PURCHASER, PEACH LAND COMPANY LIMITED PAID $15 565 PER SQUARE METRE FOR THE 5 204 SQUARE METRE SITE. IT IS REQUIRED UNDER SALE CONDITIONS TO FULFILL A BUILDING COVENANT OF $32 MILLION WITHIN FOUR YEARS. THE PLOT RATIO IS 4.74 FOR RESIDENTIAL AREAS AND 0.49 FOR NON-RESIDENTIAL AREAS, WITH 720 FLATS BEING PRODUCED FROM THE TWO DOUBLE CRUCIFORM BLOCKS. BIDDING ON THIS SITE OPENED AT $65 MILLION.

PING PING INVESTMENT COMPANY PAID A TOTAL OF $19.4 MILLION FOR TWO ADJACENT TUEN MUN NEW TOWN SITES WHICH ARE FOR INDUSTRIAL/GODOWN DEVELOPMENT. THE COMPANY PAID $5 890 PER SQUARE METRE FOR A 1 630-SQUARE METRE SITE AND $6 717 PER SQUARE- METRE FOR A 1 459-SQUARE-METRE SITE. THE BUILDING COVENANTS ARE $15.14 MILLION AND $12.77 MILLION, BOTH TO BE FULFILLED WITHIN FOUR YEARS. BIDDING OPENED AT $8 MILLION ON THE LARGER SITE AND $7 MILLION ON THE SMALLER SITE.

THE FIFTH TOWN CENTRE SITE TO BE OFFERED IN TUEN MUN WAS BOUGHT FOR $45 MILLION - THE OPENING BID BY THYME COMPANY LIMITED. THE SITE, MEASURING 3 512 SQUARE METRES, IS ALSO FOR COMMERCIAL AND RESIDENTIAL DEVELOPMENT. THERE IS A FOUR-YEAR BUILDING COVENANT ON THE SITE OF $45 MILLION, THE PRICE PAID WAS $12 813 PER SQUARE METRE.

A YUEN LONG SITE MEASURING 7 271 SQUARE METRES, WHICH IS FOR INDUSTRIAL/GODOWN DEVELOPMENT, SOLD FOR $27.5 MILLION ($3 782 PER SQUARE METRE), THE PURCHASER WAS LAI SUN GARMENT COMPANY LIMITED. THE BUILDING COVENANT OF $35 MILLION IS TO BE FULFILLED WITHIN FOUR YEARS AND THE PLOT RATIO IS 5. BIDDING ON THIS SITE OPENED AT $20 MILLION.

THE AUCTIONEER, GOVERNMENT LAND AGENT, MR MALCOLM MCGRAW, WITHDREW A YUEN LONG LOT FOR GODOWN DEVELOPMENT WHEN THERE WAS NO RESPONSE TO HIS REQUEST FOR AN OPENING BID OF $15 MILLION, THE LOT MEASURES 3 180 SQUARE METRES AND HAS A FOUR-YEAR BUILDING COVENANT OF $29 MILLION.