70
GR 329
CONFIDENTIAL
FM HONG KONG 240845Z JUL
DESKBY 240960Z
TO IMMEDIATE F.C.0.
CONFIDENTIAL
TOP COPY
ther 173/2
No 1 Phu 25/7
See (12) (16
TELEGRAM NUMBER 1051 OF 24 JULY, 1979.
67) YOUR TELNO 573: PARLIAMENTARY QUESTIONS.
1. YOUR PROPOSED REPLIES TO QUESTIONS A, B, C, D, E AND G
ALL AGREED,
2. Q.F
WE SUGGEST YOU REPLY AS FOLLOWS:
''COMPENSATION FOR COMMERCIAL PREMISES AT SAI LAU KOK INCLUDING BOTH SHOPS AND OTHER BUSINESSES VARIES ACCORDING TO THE AREA OF THE PROPERTY, STORAGE AND OTHER FACILITIES AND LOCATION, AND RANGES FROM ABOUT HK DOLLARS 850 PER SQ.FT TO HK DOLLARS 1,100 PER SQ.FT AT THE DATE OF REVERSION ON 12.11.78. THIS COMPARES WITH SIMILAR PROPERTIES IN SIMILAR POSITIONS IN TSUEN WAN WHICH WERE SELLING AT THAT TIME IN THE REGION OF HK DOLLARS 800 PER SQ.FT.
BASIC COMPENSATION FOR FLATS AS AT 12.11.78 WAS IN THE RANGE OF HK DOLLARS 400 TO HK DOLLARS 450 PER SQ.FT DEPENDING ON SIZE, LOCATION ETC. SIMILAR FLATS IN BUILDINGS WITHOUT LIFTS IN TSUEN WAN WERE SELLING AT THAT TIME AT SIMILAR RATES PER
SQ.FT.
STATUTORY COMPENSATION IS BASED ON OPEN MARKET VALUES PERTAINING AT THE DATE OF REVERSION OF THE PROPERTY AND THE QUESTION OF ENHANCEMENT DOES NOT ARISE.''
3. Q.H
WE SUGGEST YOU REPLY AS FOLLOWS:
''THERE IS NO PRIVATE DEVELOPMENT PLANNED TO TAKE PLACE AT THE MASS TRANSIT RAILWAY STATION AND DEPOT TO BE BUILT AT TSUEN WAN WITHIN THE AREA OF LAND KNOWN AS SAI LAU KOK. THIS
CONFIDENTIAL
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