The site at Mainland Lot No. 9094 has a site area of about 24,327 sq ft. It is designated for non-industrial (excluding warehouses, hotels and petrol filling stations) use with a maximum gross floor area of 243,264 sq ft for private residential use. The maximum floor area for non-industrial uses (excluding private residences, warehouses, hotels and petrol stations) is calculated in accordance with the relevant special conditions in the conditions of Sale.
The gross floor areas and the gross floor areas for non-industrial purposes (excluding private residential, warehouse, hotel and petrol filling station) shall include the Government local floor areas of the public transport terminus and public toilets to be constructed by the Buyer under the conditions of sale.
Mr Cheung King-ta, Central Surveyors, said that site 9094 in West Ning Street and Victoria Road Inland section of Kennedy Town could refer to site 9069 in West Ning Street and Victoria Road Inland section of Kennedy Town granted last year at a single lot price of about $9,500 per foot per square foot at the low market valuation.
The site is located in a similar location, but the size of the reachable floor area and the potential for development are relatively large. In addition to the lack of land supply in Kennedy Town Area, the location is close to Kennedy Town MTR station and convenient transportation. It is believed that it will attract many small and medium sized developers to the tender. The estimated land price per foot is about $9,500 and the land price is about $2.31 billion. The target is mainly car passengers and small families.
