The tender for a Tuen Mun site was awarded on a 50-year land grant for a premium of $2.75 billion, the Lands Department announced on May 2. The site, Tuen Mun Town Lot No 544 on Siu Lang Shui Road, Area 49, was awarded to Westlink Investments, a subsidiary of Goodman HK Investments. It has a site area of 31,667 sq m and is designated for logistics development purposes. The minimum and maximum gross floor areas are 47,501 and 79,167.5 sq m. This is the first logistics site the government put on tender in five years.
     Kristoffer Harvey, Chief Executive Officer, Greater China at Goodman Group, said, "The opportunity to acquire such a strategically located logistics land site is rare in Hong Kong and we're excited to have the ability to capitalise on the continued strength of the logistics market, and the pent-up customer demand that we can't satisfy within our fully occupied existing portfolio. We plan to build a high-quality, modern logistics facility on the site capable of accommodating the latest advancements in automation and robotics rarely seen in Hong Kong."
     Goodman has logistics and industrial properties in Hong Kong, with an existing portfolio of high quality assets providing 1.4 million sq m of space with a total value in excess of HK$34 billion. Occupancy of Goodman's portfolio in Hong Kong has remained at 99% for the last five years.


ATL Logistics Centre, Kwai Chung  (Photo: Goodman Group)

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