Property in To Kwa Wan for Auction under Land (Compulsory Sale for Redevelopment) Ordinance
HONG KONG, 8 November 2021 – JLL today announced it has been appointed as the auctioneer for the sale of a building at Nos 58, 60, 62, 64, 66, 68 and 70 Lok Shan Road, Nos 1, 3, 5, 7 and 9 Mei Wa Street and Nos 18 and 20 Ha Heung Road in To Kwa Wan, Kowloon by public auction pursuant to an Order for Sale made by the Lands Tribunal under the Land (Compulsory Sales for Redevelopment) Ordinance.
The public auction will be held at 11:30am on 30 November 2021 (Tuesday) and the property has a reserve price of HKD 962 million.
The property is an eight-storey tenement block built in 1960 and served by four common staircases with each of the two staircases leading to Lok Shan Road and Mei Wa Street respectively. The ground floor is occupied as nine shops and five tenements, and the first to seventh floors as 14 tenements per floor for domestic use.
The site is zoned as "Residential (Group A)" under Draft Ma Tau Kok Outline Zoning Plan No. S/K10/27. It has a site area of 10,196.52 sq ft.
The property is being sold partly with vacant possession and partly subject to existing lettings, tenancies and licences (if any) and existing building orders and on an 'as is' basis.
The public auction will be held at the JLL office, 7/F One Taikoo Place, 979 King's Road, Quarry Bay, Hong Kong.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.