CONFIDENTIAL ##
XCC(77)82
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Copy No Page 5
of 80
Alternative
Planning
Return
Commercial/
Residential (C/R) 1
Direct Revenue
$ million
520
Victoria Barracks
Planning Committee Preliminary Report
(June 1977)
Victoria Barracks Proposals
Planning Committee (Public Works
Final Report
(September 1977)
$ million
Department)
(October 1977)
$ million
650
Commercial (C) :
450
Residential (Zone 2)
320
50
(R2)
Sub-Total
840
450
700
Indirect Revenue
Return
Sale site at Wan Chai'
200
200
200
2
MB II site
420
Sub-Total
620
200
200-
Total Revenue Return: 1, 460
650
900
Development Costs
Road works.
7.5
0.7
6.0'
Drainage works4
2.0
1.2
1.2
Total Development Costs: 9.5
1.9
7.2
Net Revenue Return: 1, 450
648
893
(Rounded-up figure)
Note: 1 The commercial/residential zoning of the strip fronting Queensway in the preliminary proposals was changed to commercial zoning in the final planning proposals.
2 The MB II site will not automatically be released under
the Victoria Barracks Planning Committee's final proposals or the Public Works Department alternative since the Government zoning under the preliminary planning proposals in the barracks area has been reduced to provide for a Government Secretariat and Council Chamber, not ordinary Government offices requiring ready public access which may still have to be built on the MB II site.
3
4
The cost of $6 million is principally attributable to the need for an elevated over-pass at the junction of the central access road with Queensway.
!!
The major element in the drainage works is the diversion
of two nullahs running in a south to north direction through the barracks area.
C.S. 166
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