No_6_1954 — Page 15

NEW FLATS

FOR

KELLETT

ESTATES

LIMITED

Architects:-

Messrs. Harriman Realty Co., Ltd.

[[

11

ון

Kellett Estates Ltd., has been in- corporated for the purpose of de- veloping Rural Building Lot No. 31, which is situated below the Royal Naval Hospital and com- mands a beautiful view over the Aberdeen and Repulse Bay areas. It is proposed to erect on this site, on a cooperative basis, two 6-storey blocks of flats.

The building from the east (Photograph of a model constructed by Mr. E. K. Yap)

The building of apartments on a In Hong Kong, a number of cooperative basis is, of course, apartments have already been over the erected on a cooperative basis, but common practice all world. Participation in such an in nearly all cases the purchaser enterprise has always been con- has simply acquired possession of sidered an ideal way of insuring the area he occupies and pays no permanent possession of a re- further rent for it. He is, of sidence and, at the same time, course, permitted to sell his in- converting an expense, that is terest in his apartment at any rent, which would otherwise be time, but the actual ownership of considered as irretrievable, into a the building and the land thereon first class investment.

is still vested in the builder, The

IT

SVT.

SVT.

SERVICE AREA

B.R.

B.A.

SVT.

SVT.

D.R.

B. R.

L.R.

LOBBY

K.

O.R

Typical floor plan.

13

Хов

B.A.

B. R.

GO TO

FUTURE BLOCK

OF

FLATS

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