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Lantau lot sold for $30.5 million at land auction

    A Government lot was sold for $30.5 million at the Lands Department's first land auction of the financial year this afternoon (July 18).

     The lot, Lot No. 246 in Demarcation District No. 331, with an area of about 2,240 square metres, is located in Cheung Fu Street, Cheung Sha, Lantau Island, New Territories. It was sold to Gold Bright Investment Limited at $30.5 million. The opening bid was $14.4675 million.

     A Lands Department spokesman said this was the first land auction following the announcement of the new Application List in March this year.  Under the Conditions of Sale, the site is designated for private residential purposes and the developer is required to complete a minimum gross floor area of 538 square metres by September 30, 2010.

     The auction was conducted at the Concert Hall of the Hong Kong Cultural Centre, Tsim Sha Tsui by Assistant Director of Lands, Mr Simon Yu, assisted by Chief Estate Surveyor, Mr Tony Moyung.

Ends/Tuesday, July 18, 2006
Issued at HKT 17:23