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HONG KONG, 9 OCTOBER 2012 – By order of the Lands Tribunal, “Nos. 196, 198, 200 and 202 Ma Tau Wai Road, Kowloon” (Sub-Section 2 of Section A, Remaining Portion of Sub-Section 1 of Section A, Section A of Sub-Section 1 of Section A and Sub-Section 3 of Section A of Kowloon Inland Lot No.1409) (hereinafter referred as “the Property”) will be put up for sale by public auction. The Property is to be sold on an “as-is” basis, partly with vacant possession and partly subject to existing lettings and tenancies. Jones Lang LaSalle has been appointed as the auctioneer.
The auction is to be conducted at 12:00 noon, 31 October 2012 (Wednesday) at Jones Lang LaSalle’s office, 6/F Three Pacific Place, 1 Queen’s Road East, Hong Kong.
Comprising two blocks of seven-storey tenement buildings, the property was completed in two phases: Nos.196-198 Ma Tau Wai Road was completed in 1957 while Nos. 200-202 Ma Tau Wai Road was in 1958. Situated on the western side of Ma Tau Wai Road, near the junction with To Kwa Wan Road in Hung Hom, Kowloon, the Property stretches a site area of approximately 5,439 sq ft.
Joseph Tsang, Jones Lang LaSalle’s Managing Director and Head of Capital Markets, Hong Kong, said, ‘The locality of the property is currently clustered with tenement buildings, composite buildings and private residential developments but is expected to see a major facelift in future as the planned MTR Shatin to Central Link - Ma Tau Wai Station is situated nearby. The accessibility of the property and the surrounding areas will be greatly enhanced upon completion of this new MTR link in 2018.’
‘The property commands a huge redevelopment potential, with its strategic location and the planned new infrastructure, including the construction of the MTR Shatin to Central Link and the various development plans for Kai Tak area. We expect it to attract the interest from local developers and investors alike,’ added Joseph Tsang.
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