Basket of properties in Pan Hoi Street and King’s Road up for auction
The reserve price for the basket of properties is $6.31b.
A basket of properties located on Pan Hoi Street and King’s Road has been put up for public auction pursuant to an Order for Sale from the Lands Tribunal under the Land Ordinance, with a reserve price of $6.31b.
JLL, the official auctioneer for the property, will hold the public auction at 11 a.m. on 19 September at the JLL office, 7/F One Taikoo Place, 979 King's Road, Quarry Bay, Hong Kong.
The site where the property sits is zoned as "Residential (Group A)" under approved Quarry Bay Outline Zoning Plan No. S/H21/28. It has a site area of 43,881 sq ft.
“The property is being sold partly with vacant possession and partly subject to existing lettings, tenancies and licences, if any, and on an 'as is' basis but subject to the existing building orders and notices,” JLL added.
The property comprises an 11-storey tenement building at Nos. 983-987A King's Road and Nos. 16-22 Pan Hoi Street, a 9-storey tenement building at Nos. 24-38 Pan Hoi Street and seven pairs of 8-storey tenement buildings at Nos. 40-42 and 44-46 Pan Hoi Street; Nos. 48-50 and 52-54 Pan Hoi Street; Nos. 56-58 and 60-62 Pan Hoi Street, Nos. 64-66 and 68-70 Pan Hoi Street; Nos. 72-74 and 76-78 Pan Hoi Street; Nos. 80-82 and 84-86 Pan Hoi Street and Nos. 88-90 and 92-94 Pan Hoi Street.