TUESDAY, JULY 25, 1989
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SALE OF THREE SITES FETCHES $133.4 MILLION
THE SALE OF THREE GOVERNMENT LOTS IN THE NEW TERRITORIES TODAY (TUESDAY FETCHED A TOTAL OF $133.4 MILLION.
THE LOTS INCLUDED TWO FOR PRIVATE RESIDENTIAL PURPOSES.
ONE OF THEM IS LOCATED IN AREA 29A, FANLING, WITH ABOUT 7,330 SQUARE METRES.
AN AREA OF
BIDDING OPENED AT $64 MILLION AND THE LOT WAS BOUGHT BY RAKEA DEVELOPMENT CO LTD AND LEMATON LTD FOR $88 MILLION.
ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER IS REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 14,513 SQUARE METRES BEFORE SEPTEMBER 30, 1992.
THE SECOND LOT IS LOCATED IN AREA 64, YIM TIN TSAI, TAI PO.
BIDDING OPENED ᎪᎢ $6 MILLION AND THE LOT WAS BOUGHT BY
SPRINGDALE INVESTMENT CO LTD FOR $10.4 MILLION.
IT COVERS AN AREA OF ABOUT 2,906 SQUARE METRES AND THE DEVELOPER IS REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 1,395 SQUARE METRES BEFORE JULY 31, 1992.
THE THIRD LOT, WHICH IS FOR INDUSTRIAL AND/OR GODOWN PURPOSES (EXCLUDING OFFENSIVE TRADE), IS LOCATED IN AREA 4B, SHEUNG SHUI.
BIDDING OPENED AT $23 MILLION AND THE LOT WAS BOUGHT BY PARK'N SHOP LTD FOR $35 MILLION.
IT COVERS AN AREA OF ABOUT 3,041 SQUARE METRES AND THE DEVELOPER IS REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 9.123 SQUARE METRES BEFORE SEPTEMBER 30, 1992.
THE AUCTION, HELD AT THE CITY HALL THEATRE, WAS CONDUCTED THE ACTING PRINCIPAL GOVERNMENT LAND AGENT, MR JIM HUGHES.
BY
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