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February 19, 2019

Tender awarded for site in Tai Po
The Lands Department announced on February 15 that the tender for a site, Tai Po Town Lot No. 244 at the junction of Yau King Lane and Pok Yin Road, Pak Shek Kok, Tai Po, New Territories, has been awarded to the highest tenderer, Channel First Limited (parent company: Sun Hung Kai Properties Limited), on a 50-year land grant at a premium of $6,309,380,000.
     Tai Po Town Lot No 244 has a site area of about 32,900 sq m and is designated for non-industrial (excluding godown, hotel and petrol filling station) purposes. The minimum gross floor area and the maximum gross floor area are 52,920 sq m and 88,200 sq m respectively. Both include the gross floor area of Government Accommodation, being a residential care home for the elderly to be constructed by the purchaser.
     Experts in the field said the higher-than-expected HK$6.31 billion premium translates to HK$6,646 per sq ft, 69% higher than the previous site in the area which sold for HK$3,932 per sq ft in 2016 to Sino Land.

Pak Shek Kok, Tai Po (Source: Sun Hung Kai Properties)

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