4.04. From the foregoing and the following pages, it will be apparent that the output of the office has again increased substantially both in cases completed and revenue obtained, particularly as on the average land values were similar to the previous year, the total revenue in excess of $225 million being the highest level recorded in the history of the Colony and more than double that of the previous year.
CROWN LANDS DIVISION
4.05. The sale of Crown land by Public Auction, although continuing to follow the programmes published at six-monthly intervals, increased considerably, 257 lots being sold compared with the previous year's total of 114, a few of the lots containing special user restrictions being sold by tender. Another marked increase was in the number of regrants of Crown leases made, the figure being 375 as opposed to 121.
Auction Sales
4.06. Industrial. 127 lots were sold, of which 62 were at Kwun Tong. Whilst there was a fall in land values in the middle of the year, they had recovered at the end and were generally steady. The fall in values occurred during the time when discussions were being held concerning the entry of the United Kingdom into the European Common Market. 14 lots were sold restricted to boat building, with the realized prices somewhat lower than lots in the same district restricted to general industrial user.
4.07. Non-industrial. 150 lots were sold. The keenest demand was for those permitting high density commercial and residential user, the highest price realized being over $525 per sq. ft. for a lot in Wan Chai. There was a fall in demand at the end of the year for land on which to build good quality residential flats, due to the supply of this type of residential accommodation becoming available on the market in the near future equalling, or perhaps exceeding, the demand. A site for an amusement park was offered to tender for a 10 year lease at an annual premium and the highest bid received, which was accepted, was $1,050,000 p.a.
Private Treaty Grants
4.08. 133 lots or extensions thereto were granted, 44 by exchange and 21 free of premium for non-profit-making institutions. 13 only were granted for Government Officers' Housing Schemes.
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4.04. From the foregoing and the following pages, it will be apparent that the output of the office has again increased substantially both in cases completed and revenue obtained, particularly as on the average land values were similar to the previous year, the total revenue in excess of $225 million being the highest level recorded in the history of the Colony and more than double that of the previous year.
CROWN LANDS DIVISION
4.05. The sale of Crown land by Public Auction, although continuing to follow the programmes published at six-monthly intervals, increased considerably, 257 lots being sold compared with the previous year's total of 114, a few of the lots containing special user restrictions being sold by tender. Another marked increase was in the number of regrants of Crown leases made, the figure being 375 as opposed to 121. ·
Auction Sales
4.06. Industrial. 127 lots were sold, of which 62 were at Kwun Tong. Whilst there was a fall in land values in the middle of the year, they had recovered at the end and were generally steady. The fall in values occurred during the time when discussions were being held con- cerning the entry of the United Kingdom into the European Common Market. 14 lots were sold restricted to boat building, with the realized prices somewhat lower than lots in the same district restricted to general industrial user.
4.07. Non-industrial. 150 lots were sold. The keenest demand was for those permitting high density commercial and residential user, the highest price realized being over $525 per sq. ft. for a lot in Wan Chai. There was a fall in demand at the end of the year for land on which to build good quality residential flats, due to the supply of this type of residential accommodation becoming available on the market in the near future equalling, or perhaps exceeding, the demand. A site for an amusement park was offered to tender for a 10 year lease at an annual premium and the highest bid received, which was accepted, was $1,050,000 p.a.
Private Treaty Grants
4.08.
133 lots or extensions thereto were granted, 44 by exchange and 21 free of premium for non-profit-making institutions. 13 only were granted for Government Officers' Housing Schemes.
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