î
(vid) 197-20% bed Youn
Toun: Chei
knom is lou Howloon Intend to
26.
17
f
The site has an
11 aquare metres and is shown coloured ink on the plan 4 Bal 7. 10 ha -C7-2C9 Sai Yeung Choi Street were 4-storey building co.. 2 I in the early 1950's in individual ownership on sites zoned for wesidentin? (lone 1) development on the draft Statutory Fan No. I 30. 203-2-51 i Yeung Choi Street was an 11-storey building corstmoted in 1968 am a clier A site which is zoned for
Residential (Zone 1) development on the traft Statutory Plan No. LK 3/10.
27.
•
As the rang transit railway tunnels north of Prince Edward Station had to be constructed under the property and it was considered that the buildings found tons muli ne i thotand the construction of the shallow level bored tule turels directly underneath, 197-203 and 207 Sai Yeung Choi Strest were acquired by in, reement on 3rd December 1973. 209 Sai Young Choi Street vas nivo noquimed by agreement on 14th August 1974. 205-2054 Sai Young Choi Street resumed under section 4(1) of the Mass Transit Railway (Lend Resumption ang Related Provisions) Ordinance on 13th April 1976. The total acquisition sonts incurred by Government amounted to $7,278,908.71 cnsisting of property enquisition costs, tenants' compensation and Government on-costs changed for making the site available.
a
28.
As the foundations have not been integrated with the tunnel structure and built concurrently, fer mictions on construction methods and additional foundation requirements will impose substantial additional costs on any private developer. If the lot was to be sold by auction these additional costs yould have considerably reduced the premium that might otherwise be obtained but for the existence of the tunnels. llo development proposals have yet been received from the Corporation, but an optimum pernitted development comprises a 15-storey commercial/residential building.
29.
The basic terms for the proposed grant of the site to the Mass Transit Railway Corporation up as follo
krea
Tex
BY KARAVAN LE
Crown Hent:
User
Restriction
བར བ པ
901 square metres (2,692 zquare feet or thereabouts)
Residue of 99 years, less the last those deye, commencing from the 1st July 1898.
$1,000 per annum.
Kass transit daily Tunnel and de-industrial rumposed (with restriction for residential murposes only shove first floor level),
(i) No prob od sny builoing to be crccted to exceed – hedght of 31.5 metres P.D. (159 20:0, threebout).
(15) The Coalitions of Szent to ontein a.
"Lesly J5 lapositiul, ole requiring develoyment to be subdent to the special anrovel of the Diretor of Tub Ac Works.
The Genuse shell tith30 15 the from 20th June 1979 exget on the tube buil
lue of not less
4:20
218,500,000.
to the
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