Cheung Sha Wan site to be auctioned for $123m

The site spans approximately 4,800 square feet.

A residential property in Cheung Sha Wan will be offered for public auction later this month under the Land (Compulsory Sale for Redevelopment) Ordinance, according to its auctioneer JLL.

The property, located at Nos. 308 & 310 and 312 & 314 Shun Ning Road, consists of two five-storey tenement buildings with a total of 20 residential units.

Known as Tai Chung Court, the buildings were originally developed under the Civil Servants' Co-operative Building Society Scheme. Each building has a single common staircase and accommodates two domestic units per floor.

The auction is scheduled for 11:00 am on 23 September and will take place at JLL’s office at 7/F, One Taikoo Place, Quarry Bay. The reserve price has been set at $123m.

The site spans approximately 4,800 square feet and is zoned "Residential (Group A) 8" under the draft Cheung Sha Wan Outline Zoning Plan No. S/K5/40.

According to JLL, the property will be sold partly with vacant possession and partly subject to existing lettings, tenancies, licences, and building orders, on an 'as is' basis.

The sale follows an Order for Sale issued by the Lands Tribunal under the city's redevelopment ordinance, which allows for compulsory sales when ownership thresholds for redevelopment are met.