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feasible.
There is a possible further disadvantage to a
purpose-built building in that it could provide less
flexibility over the years than other options.
16. A more attractive possibility might lie in
co-operating with the developer of a new property in
order to secure the space we need, together with options
to take additional floor space closer to 1997, as our
needs become clearer. Such a scheme might give us the
floors we prefer, with such features as dedicated lifts,
strengthened floors and above-average ceiling heights
built in. It would be necessary to accept a commitment
either to lease or buy our 'core' space at an early stage
in the planning so as to give the developer security for
funding purposes. However, our modest requirements,
which could amount to no more than three or four floors
in a 20 storey block, may prove to be of limited interest
to the conventional developer and a partner with a
special interest may be required.
17.
We might be able to acquire a piece of land at
This would "friendship" price below open market value.
have to be acceptable to both the Hong Kong Government
(from whom we would be buying it) and the Chinese (for
the reasons in paragraph 10, but also because they would
receive a share of the sale price to hold in trust for
the future SAR under the terms of Annex III to the Joint
Declaration). We have yet to explore this possibility.
Much would depend on the attitude of the Hong Kong
Government.
We hope they would be ready to be helpful,
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