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The Food and Environmental Hygiene Department (FEHD) will from this month put up long-vacant stalls in public markets for open auction with upset prices set at 80% or 60% of the open market rent (OMR).
"Upset prices will be fixed at 80% of the OMR if the stalls have been vacant for six months, and at 60% if the vacant period has been for eight months or more," an FEHD spokesman said today (March 10).
"The OMR/upset price for each stall will vary depending on the size and location of the stall. A total of 1,566 long-vacant stalls from 68 public markets will be put up for open auction in March. Stalls left vacant for six months will be put up for auction at 80% of the OMR. Taking fresh meat stalls as examples, the average upset price fixed at 80% of the OMR is $5,200.
"The average upset price fixed at 60% of the OMR for fresh meat stalls is $1,788.
"Putting up long-vacant market stalls for open auction at lower upset prices could put these stalls to better use and further improve the business environment of public markets," the spokesman said.
An open auction will be held on March 17 to let out vacant market stalls (including long-vacant ones) in Kwai Tsing District and Tsuen Wan District, followed by similar auctions in other districts. Anyone aged 18 years or above and ordinarily resident in Hong Kong can participate in the auctions.
Details of the auctions are available on the FEHD website, www.fehd.gov.hk, and in notices put up at the public markets.
Ends/Tuesday, March 10, 2009
Issued at HKT 16:34
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