Offers made to 251 property owners in Sham Shui Po

Offers were $9,807 and $9,857 per sq ft of saleable area.

According to a report, the Urban Renewal Authority issued conditional acquisition offers to 251 property owners affected by two redevelopment projects in Sham Shui Po today.

The owners have 75 days to consider the offers.

The sites have a combined area of 2,200 square metres, and are located at 270-286 Tung Chau Street/1-5 Kweilin Street and 1-3B Kowloon Road/1-5 Kiu Yam Street. The offers are $9,807 and $9,857 per square foot of saleable area, respectively.

To proceed with the projects, the authority must secure acceptance of offers for at least 80% of the undivided shares of each lot within 75 days.

The redevelopment is scheduled to be completed by 2019-20, and will provide around 270 small to medium-sized flats.

The authority will hold briefing sessions for affected owners, residents and shop operators, and will appoint a team of professional social workers from the Salvation Army to provide counselling and practical assistance to residents.