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COMMERCIAL PROPERTY | Cesar Tordesillas, Hong Kong
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Three lots sold for $3,602.5 million

Three government lots were sold for a total of $3,602.5 million during the Lands Department's fifth land auction of the 2011-12 financial year.

 

The first lot, Tseung Kwan O Town Lot No. 113 at Area 66A, Tseung Kwan O, New Territories, was sold to Crown World Investment Limited at $3,120 million. The opening bid was $2,850 million. The site has an area of about 13,393 square metres and is designated for non-industrial purposes. A minimum gross floor area of 44,197 square metres must be completed. The maximum gross floor area is 73,662 square metres. The total number of residential units to be built shall not be less than 960 and shall not exceed 1,010.

The second lot, Lot No. 1282 in Demarcation District No. 253 at Pak Shek Wo, Sai Kung, was sold to Stanhope Holdings Limited at $121.5 million. The opening bid was $86 million. The site has an area of about 2,400 square metres and is designated for private residential purposes. A minimum gross floor area of 676 square metres must be completed. The maximum gross floor area is 1,124.8 square metres.

The third lot, Lot No. 4309 in Demarcation District No. 124 at Tan Kwai Tsuen Road, Yuen Long, New Territories, was sold to Advance Fame Investments Limited at $361 million. The opening bid was $196 million. The site has an area of about 11,192 square metres and is designated for private residential purposes. A minimum gross floor area of 6,716 square metres must be completed. The maximum gross floor area is 11,192 square metres. The total number of residential units to be built shall not be less than 170.

     The auction was conducted at Queen Elizabeth Stadium, Wan Chai, by the Deputy Director of Lands, Mr Graham Ross, who was assisted by the Assistant Director, Ms Karen Chan.

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