TNAG-2968-FCO40-4247-Future-of-Hong-Kong-British-Consulate-General-inclusion-of--1993 — Page 15

British Consulate General

D) Valuation

25-11-1993

16:42

(HK$)

(HK$)

P

Sis Amrea

lèmessible Plot Ratio

Max. development GFA

Valuation Assumptions

70,460.55 15

st

1,056,908

Investment Valve

Office Rental Charges

1,058,906 sf X 1,056,906 sf X

89%

88%

efficiency efficiency C

$50.00 psf L x12

558,047,424

$5.00 psf L x12

55.804,742

613,852,166

Less Outgoings

1,056,906 s1 @

$40.00 psf G pa

42,276,320

Average Rental for Office (psf L. pm)

$50.00

571,575,846

Torul

fisc. Charges for Office (psf L. pm)

$5.00

Toral Outgoings ipsf G pa)

$40.00

Years Purchase in Perpertuity @ Gross investment Value

7.00%

pa

14.2857

Eftcillemcy for Office

88%

8,166,361,063

$7,726 pes!

Capitalisation: Rate (pa)

7.09%

Demolition

$1,000,000

Less Development Expenditure

Construction cost for Office (pet)

$900

Demolition

Professional fees

6.50%

Construction cost:

Fins rcmue cost (pa)

Markoetsing & sundries

Plan mg pentod (months)

Construction period (months)

Marketing Period (months)

7.50%

Office

$15,000,000

Fee

1,162,599 ( Q 6.50%

$900

1,000,000

1,048,339,100

9

Interest

D

7.50%

pa for

27

mtns x 1/2

27

Marketing & sundries

68,077,042

98,551,989

15,000,000

incl. Demolition, Foundation, & Superstructure)

4

Present Value

7.50% pa for

40

mths (nole)

Land value

Say

Accommodation value

1,228,968,131 6,836,392,932

0.7858

5,450,617,586 5,450,000,000

5,157 psf

TOTO

P 67

Note: 40 mths # 9 mths planring + 27 mths construction + 4 mths marketing

.t

AK/BCG.XLS/25.11.93

占

1.

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