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The anachronistic power of Britain to make critical commercial decisions for H kong against Hongkong's interests, while reserving the right to screw or be a party to the screwing of Hongkong in critical trade negotiations, is bloody monstrous !
PROPERTY DEVELOPMENT ELBOW ROOM IN THE CASTLE-PEAK ROAD
Fast Garment Factory Ltd, a wholly-owned subsidiary of Power Garment Factory Ltd, is building an $HK11-million commercial/residential block in Castle Peak Road.
Due to be finished in April, 1981, the building has been pre-sold to 12 indivi- duals and firms for an average of $HK270 a square foot. This works out at a total of just under $HK30 million for the total interior area of 110,000 square feet on a 14,000-square-foct site.
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The location is New Kowloon Inland Lot 1894, Section A. The property was purchase. in March 1978 at a cost of $HK10.5 million and demolition was finished last Novent
The building is 11 storeys high with 4 units per floor.
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On Hongkong Island, Yee Shun Development Company Ltd, a subsidiary of Yee Sang Tai Construction Company Ltd, is planning an 18-storey commercial/residential build- ing on the site of 5 postwar, 4-storey buildings which it bought last January : Numbers 58, 60, 62, 64 and 66, Second Street. However, the company says it does not plan to start work for the time being.
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The total area is 3,500 square feet.
The developers told TARGET that plans for the proposed building had not yet been completed, however, they wanted the building to be finished not later than 1983.
They estimated the
cost of construction at $HK10 million.
The land was bought-for-$HK10.5-million.
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