XN000022-1985-03-06 — Page 16

WEDNESDAY, MARCH 6, 19.5

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36 SITES FOR SALE IN SIX MONTHS

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THE GOVERNMENT PLANS TO SELL A TOTAL OF 36 SITES IN THE URBAN AREA AND THE NEW TER! ITORIES IN THE NEXT SIX MONTHS BEGINNING APRIL 1.

THIS COMPARES WITH 25 SITES FOR THE PREVIOUS SIX MONTHS BETWEEN OCTOBER AND MARCH.

A GOVERNMENT LAND AGENT, MR DUNCAN SCOTT-WILL, SAID THE PROVISIONAL LAND SALES FORECAST FOR THE COMING SIX MONTHS TOTALLED 18 HECTARES WITH A FURTHER 36 HECTARES AVAILABLE ON THE APPLICATION LIST.

THREE SITES IN THE URBAN AREA WHICH ARE LIKELY TO BE OF PARTICULAR INTEREST ARE IN QUEENSWAY (VICTORIA BARRACKS), HARBOUR ROAD, WAN CHAI AND AT THE JUNCTION OF CANTON ROAD/PEKING ROAD, TS IM SHA TSUI, THEY WILL BE SOLD BY AUCTION.

THE QUEENSWAY SITE IS ABOUT ONE HECTARE AND IS PROPOSED FOR COMMERCIAL/RESIDENTIAL PURPOSES (INCLUDING HOTEL), IS THE SAME SITE THAT FAILED TO ATTRACT SATISFACTORY TENDERS IN NOVEMBER 1982 AT A TIME OF FALLING LAND PRICES BUT WHICH IS NOW THE SUBJECT OF SEVERAL ENQUIRIES FROM INTERESTED DEVELOPERS, ESPECIALLY AS PAYMENT FOR THE SITE MAY BE MADE IN MONETISED LETTER B.

THE HARBOUR ROAD LOT ON THE WAN CHAI RECLAMATION IS PROPOSED FOR COMMERCIAL DEVELOPMENT AND, IN ADDITION, MAY INCLUDE A HOTEL. IT HAS AN AREA OF ABOUT 3 400 SQUARE METRES.

THE CANTON ROAD/PEKING ROAD SITE, COMPRISING ABOUT 6 400 SQUARE METRES, IS THE LAST PRIME COMMERCIAL SITE AVAILABLE IN THE TSIM SHA TSUI AREA AND IS EXPECTED TO ATTRACT STRONG INTEREST. THIS SITE MAY ALSO BE PAID FOR IN MONETISED LETTER B.

A TOTAL OF 13 SITES IN THE NEW TOWN AREAS WILL BE OFFERED UNDER THE +VINTAGE + LETTER B SYSTEM WITH THE ALTERNATIVE OF TENDERING MONETISED LETTERS B ON A CASH EQUIVALENT BASIS, IN KEEPING WITH THE GOVERNMENT'S INTENTION TO REDEEM OUTSTANDING LAND EXCHANGE ENTITLEMENTS AS QUICKLY AS POSSIBLE.

MOST OF THESE NEW TOWN SITES ARE FOR COMMERCIAL OR HIGH DENSITY RESIDENTIAL DEVELOPMENT IN YUEN LONG AND TUEN MUN.

APART FROM SPECIAL USER SITES AT TUEN MUN AND TAI PO (BOATYARD, SAWMILL, FUEL DEPOT, MARINE WORKSHOP) ONLY THREE INDUSTRIAL SITES ARE TO BE OFFERED FOR SALE, TWO OF WHICH ARE IN THE URBAN AREA.

MR SCOTT-WILL SAID IN ADDITION TO THE PROVISIONAL SALES FORECAST THERE WERE APPROXIMATELY 80 SITES INCLUDED ON THE APPLICATION LIST WHICH COULD BE PROCESSED FOR SALE IF GENUINE INTEREST WAS EXPRESSED. THIS WAS IN LINE WITH AN AIM TO CONDUCT A DEMAND-LED PROGRAMME.

/+A PROSPECTIVE