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Three lots sold for $1,825 million
Three lots of Government land were sold for a total of $1,825 million at a public land auction held by the Lands Department this (Thursday) afternoon.
Another lot for industrial or godown use at the junction of On Lai Street and On Yiu Street, Sha Tin, was withdrawn because no bidding was made for the opening price of $400 million.
The first lot situated in King's Park Rise, Kowloon, was bought by Lane Success Development Limited at $1,330 million, with bidding opening at $980 million.
The lot has an area of 15,644 square metres for private residential use. The developer has to complete a gross floor area of not less than 13,440 square metres on or before September 30, 1998.
The second lot, located in Sha Ha, Sai Kung, was sold to Grand Apex Limited at $30 million, with bidding opening at $15 million.
The 900-square-metre lot is intended for private residential use. The developer has to complete a gross floor area of not less than 324 square metres on or before March 31, 1998.
The third lot at Town Park Road North, Yuen Long, was sold to Cosmos Gain Investment Limited at $465 million, with bidding opening at $450 million.
It has an area of 16,301 square metres for private residential use.
The developer has to complete a gross floor area of not less than 29,342 square metres on or before September 30, 1999.
Held in the Concert Hall of the Hong Kong Cultural Centre,Tsim Sha Tsui, the auction was conducted by Government Land Agent, Mr Nigel Burley.
End/Thursday, March 30, 1995
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