Pursuant to an order for sale made by the Lands Tribunal under the Land (Compulsory Sale for Redevelopment) Ordinance, Sun On Mansion, Nos. 20, 20A, 20B, 22, 24, 26, 26A, 26B & 28 Cannon Street, Hong Kong (“the Property”) was sold by public auction. The Property was successfully acquired by bidder No.1 Spotting Bright Limited at HK$1,450,000,000.
The Property is located at Cannon Street, between Jaffe Road and Gloucester Road, in Causeway Bay district. Developments in the vicinity are predominated by high-rise composite buildings with retail shops on ground floor. Majority of the ground floor premises in the vicinity are occupied by food and beverages and various retailers, etc. Public transportation facilities such as franchised buses, public light buses, trams and taxis are conveniently available in the vicinity. The MTR Causeway Bay Station is within 5 minutes’ walking distance.
The Property is an 11-storey composite building. The site area is about 5,388 square feet. According to the approved Causeway Bay Outline Zoning Plan No. S/H6/17 dated 8 January 2019, the Property falls within an area zoned as “Commercial (1)”.