The auction sale under the Land (Compulsory Sale for Redevelopment) Ordinance of the property located at the sale of Nos.9 & 11 Nam Cheong Street, Kowloon through Savills was held at 3pm today on the 10/F, United Centre, Queensway, Admiralty. The site was sold to Henderson Group.
The auction sale under the Land (Compulsory Sale for Redevelopment) Ordinance of the property located at the sale of Nos.9 & 11 Nam Cheong Street, Kowloon through Savills was held at 3pm today on the 10/F, United Centre, Queensway, Admiralty. The site was sold to Henderson Group.
The above property has a registered site area of approximately 1,677.08 sq ft, is situated on the northwestern side of Nam Cheong Street, between its junction with Hai Tan Street and Tung Chau Street in Sham Shui Po district, Kowloon. Currently erected on the property is a pair of 6-storey tenement buildings which was completed in 1956 and served by two common staircases. The Property falls within an area zoned “Residential (Group A)” under the Draft Cheung Sha Wan Outline Zoning Plan No. S/K5/36 gazetted on 11 March 2016. The property is to be sold with partly vacant possession and partly subject to tenancies (if any) and to be sold on an “as it is” basis.
Wong Ho Ming Augustine, Executive Director of Henderson Land Development Company Limited said, “the sale of Nos.9&11 Nam Cheong Street, Kowloon is the last shot for this acquisition project (1 – 19 Nam Cheong Street). The total site area is 8,600 sq ft and will expect to invest approximately HK$800 million. The project will be categorised as commercial-residential usage and will offer 130 residential units. Each unit will be approximately 500 sq ft. It will be completed by 2019 and will be marketed in 2017.
When asked whether the new project will be impacted by the recent quiet property market, Wong said as their project is located in prime area with promising demand, he is still positive with the outcome.”