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News Release

Hong Kong

Nos. 61, 63, 65 and 67 Soy Street, Kowloon for Auction under Land (Compulsory Sale for Redevelopment) Ordinance


HONG KONG, April 25, 2018 – JLL has been appointed as auctioneer for the public auction of the buildings at Nos.61, 63, 65 and 67 Soy Street, Kowloon pursuant to an Order for Sale made by the Lands Tribunal under the Land (Compulsory Sale for Redevelopment) Ordinance.

 

The public auction will be held at 11:30 am on May 18, 2018 (Friday). The reserve price of the property is HK$386,391,000.

 

The property encompasses two pairs of five-story tenement buildings at Nos. 61, 63, 65 and 67 Soy Street, Kowloon which were completed in 1955.

 

The property occupies a total site area of 3,535 square feet or 328.4 sq m.

 

The site is zoned as "Residential (A)", with the property being sold partly with vacant possession and partly subject to existing lettings and tenancies (if any) and on an "as is" basis. The site is allowed a maximum plot ratio of 7.5 and a maximum building height of 80 metres PD for residential development; and a maximum plot ratio of 9.0 and a maximum building height of 80 metres PD for residential cum commercial development.

 

The purchaser of the property and the purchaser's successors in title will be subject to the conditions specified in Schedule 3 of Land (Compulsory Sale for Redevelopment) Ordinance and the conditions specified in the Order for Sale and any subsequent directions made by the Lands Tribunal (if any).

 

The auction will be held at JLL office, 6/F Three Pacific Place, 1 Queen's Road East, Hong Kong.

 

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