The Lands Department this afternoon (June 9) held the third land auction of the 2011-12 financial year. Two government lots were sold for a total of $11.95 billion.
The first lot, Inland Lot No. 8949 at Borrett Road, Hong Kong, was sold to Bristow Investments Limited for $11.65 billion. The opening bid was $9.5 billion. The site has an area of about 10,488 square metres and is designated for private residential purposes. A minimum gross floor area of 24,264 square metres must be completed. The maximum gross floor area is 40,440 square metres.
The second lot, Lot No. 2129 in Demarcation District No. 121 at Ping Kwai Road, Ping Shan, Yuen Long, was sold to Great Art Investment Limited for $300 million. The opening bid was $130 million. The site has an area of about 6,076 square metres and is designated for private residential purposes. A minimum gross floor area of 3,645 square metres must be completed. The maximum gross floor area is 6,076 square metres.
The auction was conducted at the Queen Elizabeth Stadium, Wan Chai, by the Deputy Director of Lands, Mr Graham Ross, who was assisted by the Chief Estate Surveyor, Mr Tony Moyung.
Ends/Thursday, June 9, 2011
Issued at HKT 18:06