XN000022-1994-07-14 — Page 2

THURSDAY, JULY 14, 1994

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EAST TAMAR MAY BE READY FOR DEVELOPMENT NEXT YEAR

* * * *

SITES,

SOME OF THE LAND AT EAST TAMAR, ONE OF THE EX-MILITARY

NEXT YEAR, THE IS EXPECTED TO BE READY FOR COMMERCIAL DEVELOPMENT

EASON, SAID SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS, MR TONY TODAY (THURSDAY).

INSTITUTE OF

ROYAL THE SPEAKING AT A LUNCHEON MEETING OF CHARTERED SURVEYORS, MR EASON SAID HE EXPECTED TO SEE SOME OF THE LAND AT THE FORMER NAVAL BASE IN NEXT YEAR'S LAND SALE PROGRAMME WHILE REST WOULD COME ON STREAM AS THE RECLAMATION PROGRESSED.

THE

GOING ΤΟ MR EASON SAID THE SEVEN HECTARES AT EAST TAMAR WERE

AS PLAY A VERY SIGNIFICANT PART IN MEETING DEMAND FOR OFFICE SPACE

GROSS FLOOR AREA THEY WOULD PROVIDE SOME 400,000 SQUARE METRES OF ALONE.

1994 то BE

APRIL (AT "EAST TAMAR ALONE ACCOUNTS FOR $30 BILLION VALUES) OF THE $65 BILLION WE ESTIMATE THE EX-MILITARY SITES WORTH IN LAND PREMIUM REVENUE,

IN

FRONT OF

++ HE SAID.

WHAT IS

NOW TAMAR,

WILL

RECLAMATION HE SAID, PRODUCE A FURTHER 29 HECTARES OF LAND FOR THE EXPANSION OF THE CENTRAL BUSINESS DISTRICT.

THE REAL SIGNIFICANCE OF THE EX-MILITARY LAND SITES LIES IN THE POTENTIAL THEY OFFERED FOR IMPROVED PLANNING, MR EASON SAID.

TO

LAND INTO "THE CHALLENGE IS NOW TO INTEGRATE THE EX-MILITARY THE LAND SUPPLY PROCESS AND EXPLOIT TO ALL THE OPTIONS IT IS GOING GIVE US.

DEDICATING FIXED PROPORTIONS "IT

WOULD BE WRONG TO INSIST ON

SUITABLE OF THIS LAND TO PARTICULAR USES WHEN THERE MAY BE MUCH MORE SITES FOR THOSE PURPOSES AVAILABLE FROM OTHER SOURCES.

TE

NOT LEAD то THEM WAS GOING TO COME

AN

ON

MR BASON SAID THE EX-MILITARY SITES WOULD OVER-SUPPLY OF LAND BECAUSE NOT ALL OF STREAM IMMEDIATELY.

BE

"A SIGNIFICANT PROPORTION OF THE EX-MILITARY SITES WILL NOT

BE IN DEVELOPED UNTIL AFTER 1997 BECAUSE THE BRITISH GARRISON WILL OCCUPATION SOME OF THE SITES UNTIL THEN.

+1

HE SAID THERE WAS NO INTENTION ON THE PART OF THE GOVERNMENT TO CRASH THE MARKET.

"OUR POLICY

REMAINS WHAT

ALWAYS IT HAS

BEEN

——

SUFFICIENT LAND AVAILABLE TO MEET DEMAND FOR THE FULL RANGE OF

HE SAID.

/2

TO

MAKE USES,"