Kerry Properties unit wins bid for $1.38b Shau Kei Wan site

The plot spans about 1,349.2 square metres.

A residential site at Shau Kei Wan Main Street East has been awarded at a land premium of $1.38b on a 50-year land grant, the Lands Department said in a press release.

The site, Shau Kei Wan Inland Lot No. 860, was acquired by Fine Century Holdings, a subsidiary of Kerry Properties.

The plot spans about 1,349.2 square metres (sqm). It is designated for non-industrial use, excluding godown, hotel and petrol filling station purposes.

The maximum gross floor area for private residential purposes is 12,142 sqm.

The gross floor area excludes government accommodation. The purchaser is required to construct a sub-base of a district elderly community centre under the Conditions of Sale.