Pursuant to an order for sale made by the Lands Tribunal under the Land (Compulsory Sale for Redevelopment) Ordinance, Nos.1, 3, 5 and 7 Lai Wa Street, Nos.14, 14A and 16 Ha Heung Road and Nos.2, 4, 6 and 8 Mei Wa Street, Kowloon (“the Property”) was sold by public auction. The Property was successfully acquired by bidder No. 1 buyer City Fair Development Limited at HK$925,000,000.
The Property is located at To Kwa Wan at the junction of Ha Heung Road with Lai Wa Street and Mei Wa Street in Kowloon. Developments in the vicinity are predominated by residential developments with retail shops on ground floor occupied by food and beverages and various retailers. Public transportation facilities such as franchised buses, public light buses and taxis are conveniently available in the vicinity. The MTR To Kwa Wan Station is within 10 minutes’ walking distance.
The Property is an 8-storey tenement block with 3 shops for non-domestic use and 8 tenements for domestic use on ground floor and 11 tenements per floor for domestic use from first floor to seventh floor. The Property is served by three common staircases. The site area is about 9,733 square feet. According to the draft Ma Tau Kok Outline Zoning Plan No. S/K10/27 dated 21 May 2021, the Property falls within an area zoned as “Residential (Group A)”.