XN000022-1992-10-08 — Page 54

THURSDAY, OCTOBER 8, 1992

53

THREE NEW TERRITORIES SITES FETCH $390.6M

AMOUNT OF

IN

A PUBLIC

THREE LOTS OF GOVERNMENT LAND WERE SOLD FOR A TOTAL $390.6 MILLION BY THE BUILDINGS

LANDS DEPARTMENT AUCTION THIS (THURSDAY) AFTERNOON.

AND

THE FIRST SITE IS IN AREA 11, ON SUM STREET, SHA TERRITORIES. IT WAS BOUGHT BY TOPSAIL ESTATE LIMITED AT $280 WITH BIDDING OPENED AT $180 MILLION.

ΤΙΝ, NEW MILLION

INTENDED

COVERING AN AREA OF ABOUT 8,100 SQUARE METRES, IT IS FOR INDUSTRIAL AND/OR GODOWN (EXCLUDING DANGEROUS GOODS GODOWN) PURPOSES AND/OR BUS DEPOT.

THE BUILDING COVENANT STIPULATES THAT THE DEVELOPER HAS ΤΟ COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 24,300 SQUARE METRES ON OR BEFORE SEPTEMBER 30, 1996.

IT

THE SECOND LOT IS IN AREA 29B, FANLING, NEW TERRITORIES. WAS SOLD TO MADIGAN COMPANY LIMITED AT $97 MILLION. BIDDING OPENED AT $70 MILLION.

THE SITE HAS AN AREA OF ABOUT 6,900 SQUARE METRES AND IS DESIGNATED FOR PRIVATE RESIDENTIAL PURPOSES.

ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 3,312 SQUARE METRES ON OR BEFORE DECEMBER 31, 1995.

THE REMAINING SITE IS IN MEI WO CIRCUIT, SHA TIN, NEW TERRITORIES. IT WAS BOUGHT BY MR CHAN SUK PING AT $13.6 MILLION WITH BIDDING OPENED AT $7.5 MILLION,

THIS PIECE OF LAND, WITH AN AREA OF ABOUT 884 SQUARE METRES, IS EARMARKED FOR PRIVATE RESIDENTIAL PURPOSE FOR OCCUPATION BY ONE SINGLE FAMILY.

THE BUILDING COVENANT STIPULATES THAT THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 212 SQUARE METRES ON OR BEFORE DECEMBER 31, 1995.

THE AUCTION WAS HELD IN THE CITY HALL THEATRE AND WAS CONDUCTED BY GOVERNMENT LAND AGENT, MR JAMES HUGHES.

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