The auction sale under the Land (Compulsory Sale for Redevelopment) Ordinance of the property of 2A & 2B San Lau Street and No.26 Ko Shan Road (The Remaining Portion of Section L of Kowloon Inland Lot Nos. 4307), Kowloon (The Property), through Savills was held at 10am today on the 10/F, United Centre, 95 Queensway, Admiralty. The Property was sold for the reserve price of HK$136 million to TKS Limited.
The Property, with a registered site area of about 1,910 square feet (177.44 square metres), is situated on the south-eastern side of Ko Shan Road at its junctions with San Lau Street in Hung Hom District of Kowloon.
Currently erected on the site is a 6-storey residential building with shops on the Ground Floor. The building was completed in 1958 and is served by one common staircase.
The Property falls within an area zoned "Residential (Group A)" under the Kowloon Planning Area No. 9 – Draft Hung Hom Outline Zoning Plan No. S/K9/27 gazetted on 9 July 2021.
Mr. Charles Chan, Managing Director of Savills Valuation and Professional Services, commented, "The Property is close to the newly opened MTR To Kwa Wan Station and enjoys good development prospect. Led by a group of executives born in the 1980s, TKS Limited had previously bought an adjacent site to the Property and intends to combine the two sites for redevelopment, which is expected to provide a gross floor area of over 30,000 square feet to be launched for sales in the market in 2023."