General
LAND BRANCH
Government Land Agent:
1. L. STANTON, J.P., F.R.I.C.S. J. P. POTTER, F.R.I.C.S. D. H. A. MOORE, F.R.I.C.S.
7.04 Land values continued very high throughout the year and revenue from sales reached the highest level for any financial year. A slightly greater number of lots were sold than in the previous year and revenue from land sold by public auction and tender increased to over $527 million as compared with $119 million in the previous year. One particular sale which took place in May, that of Inland Lot No. 8294 in Central District, realized $105 million. Several sites were sold for non-industrial use including the mandatory provision of a supermarket and such a site at Junction Road, Kowloon, realized $50 million. Indicative of the very high value of residential and non-industrial land during the year were two sites sold in Kowloon, one at Broadcast Drive and the other at Ma Tau Chung Road which realized $916 per square foot and $1,643 per square foot respectively. A small site in Cameron Road, Kowloon, with existing buildings standing on the lot, realized $2,748 per square foot. Competition for purchase of industrial land by public auction continued unabated, the highest price of approximately $231 per square foot being paid for a site in Chai Wan.
Urban Estate Division
7.05 The Urban Estate Division is divided into two sections, one each for Hong Kong and Kowloon. The Division deals with all sales, new leases and allocation of Crown land on Hong Kong Island and in Kowloon and New Kowloon, and the general administration and control of Crown land in the urban areas. During the year there were 86 lots sold by public auction or tender compared with 57 during the previous year. Trespass on Crown land by miscellaneous trades and the storage of goods continued to present some difficulties during the year although the policy of fencing sites and installing security guards was continued. It is, however, expected that with the introduction of the new Crown Land Ordinance and the recruitment of non-professional staff to implement its provisions, clearance of Crown land will be carried out more quickly and without the need, generally, for litigation.
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General
LAND BRANCH
Government Land Agent:
1. L. STANTON, J.P., F.R.I.C.S. J. P. POTTER, F.R.I.C.S. D. H. A. MOORE, F.R.I.C.S.
7.04 Land values continued very high throughout the year and revenue from sales reached the highest level for any financial year. A slightly greater number of lots were sold than in the previous year and revenue from land sold by public auction and tender increased to over $527 million as compared with $119 million in the previous year. One particular sale which took place in May, that of Inland Lot No. 8294 in Central District, realized $105 million. Several sites were sold for non-industrial use including the mandatory provision of a supermarket and such a site at Junction Road, Kowloon, realized $50 million. Indicative of the very high value of residential and non- industrial land during the year were two sites sold in Kowloon, one at Broadcast Drive and the other at Ma Tau Chung Road which realized $916 per square foot and $1,643 per square foot respectively. A small site in Cameron Road, Kowloon, with existing buildings standing on the lot, realized $2,748 per square foot. Competition for purchase of industrial land by public auction continued unabated, the highest price of approximately $231 per square foot being paid for a site in Chai Wan.
Urban Estate Division
7.05 The Urban Estate Division is divided into two sections, one each for Hong Kong and Kowloon. The Division deals with all sales, new leases and allocation of Crown land on Hong Kong Island and in Kowloon and New Kowloon, and the general administration and control of Crown land in the urban areas. During the year there were 86 lots sold by public auction or tender compared with 57 during the previous year. Trespass on Crown land by miscellaneous trades and the storage of goods continued to present some difficulties during the year although the policy of fencing sites and installing security guards was continued. It is, however, expected that with the introduction the new Crown Land Ordinance and the recruitment of non-professional staff to implement its provisions, clearance of Crown land will be carried out more quickly and without the need, generally, for litigation.
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