TUESDAY, FEBRUARY 28, 1984
22
$80 MILLION REALISED AT LAND SALE
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THREE LOTS OF CROWN LAND WERE SOLD FOR ALMOST $80 MILLION AT AN HOUR-LONG AUCTION AT THE CITY HALL THEATRE TODAY
(TUESDAY).
THE SALE OF A 1 579 SQUARE METRE NON-INDUSTRIAL SITE IN ABERDEEN WAS POSTPONED FOR +TECHNICAL REASONS+, BUT THE AUCTIONEER, GOVERNMENT LAND AGENT, MA TIM MILLS, SAID IT WOULD POSSIBLY BE RE-OFFERED AT THE NEXT AUCTION ON APRIL 18.
A SITE IN TUEN MUN FOR PRIVATE RESIDENTIAL DEVELOPMENT WAS
MR MILLS HAD ASKED FOR WITHDRAWN BECAUSE THERE WERE NO BIDS. BIDDING TO START AT $11 MILLION ON THE 7 791 SQUARE METRE LOT.
THE FIRST SITE TO BE SOLD WENT TO KOWLOON MOTOR BUS COMPANY LIMITED FOR $36.4 MILLION.
IT IS IN SHA TIN NEW TOWN AND IS FOR INDUSTRIAL OR GODOWN DEVELOPMENT OR FOR DEVELOPMENT AS A BUS DEPOT.
IT MEASURES 21 070 SQUARE METRES AND THE PRICE PAID WAS $1 728 PER SQUARE METRE.
THE BUILDING COVENANT, TO BE FULFILLED IN 48 MONTHS, IS $50 MILLION.
BIDDING ON THIS SITE OPENED AT $22 MILLION.
A SITE AT ON PONG ROAD, TAI PO NEW TOWN, MEASURING 9 016 SQUARE METRES, WAS SOLD FOR $28.2 MILLION ($3 128 PER SQUARE METRE).
THE BUYER WAS SUN HUNG KAI BIDDING OPENED AT $20 MILLION.
PROPERTIES LIMITED.
THE LOT, WHICH IS FOR NON-INDUSTRIAL DEVELOPMENT, CARRIES
A BUILDING COVENANT OF $60 MILLION TO BE COMPLETED WITHIN 48 MONTHS. MR MILLS SAID IT WAS THE LAST TAI PO TOWN CENTRE SITE FOR SALE BY AUCTION.
SALE CONDITIONS ALLOW FOR DEVELOPMENT OF TWO DOUBLE AND ONE SINGLE CRUCIFORM STYLE, PRIVATE RESIDENTIAL TOWER BLOCKS ABOVE A PODIUM.
THE MAXIMUM FLOOR AREA FOR PRIVATE RESIDENTIAL DEVELOPMENT WILL BE 30 700 SQUARE METRES AND FOR NON-INDUSTRIAL, EXCLUDING GODOWN, DEVELOPMENT 2 640 SQUARE METRES.
A 3 642-SQUARE-METRE SITE AT SAI CHING STREET, YUEN LONG, WAS SOLD TO MORE TREASURE COMPANY LIMITED FOR $15.1 MILLION ($4 146 PER SQUARE METRE).
IT IS A NON-INDUSTRIAL LOT WITH PLOT RATIOS VARYING FROM 3.3 TO 9.5 DEPENDING ON THE TYPE OF BUILDINGS TO BE PUT UP.
/THE DEVELOPER ......
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