Wednesday, September 23, 2020
Martin Hennecke

19 building plans get the go-ahead
The Buildings Department approved 19 building plans in July, including the 2 Tai Cheong Street development project of Henderson Land Development (0012), the Yau King Lane project of Sun Hung Kai (0016) and the Chinachem project above Ho Man Tin Station. The department approved four on Hong Kong Island, nine in Kowloon and six in the New Territories. Of the approved plans, seven were for apartment and apartment/commercial developments, five were for commercial projects, two were for factory and industrial developments, and five were for community services. The Yau King Lane project in Tai Po covers a gross floor area of 900,000 square feet. The Tai Cheong Street development project in Sai Wan Ho involves a 129,000 sq ft gross floor area with 415 units. The Ho Man Tin station phase two project involves a gross floor area of 639,400 sq ft with four buildings. In other news, an investor is selling more than 85 percent interest in Tai Chi Court in Tsim Sha Tsui for HK$580 million, at a loss of HK$48 million. The asking price is 7.6 percent lower than the buying price two years ago. The owner bought the court from "Shop King" Tang Shing-bor in 2018 at HK$628 million. Savills has been appointed to sell 36 residential units, three offices and one shop of Tai Chi Court with a site area of 5,441 sq ft. In other news, Hong Kong Ferry (0050) and Empire Group sold a 1,267-sq-ft penthouse at Seacoast Royale in Tuen Mun for HK$30 million, or HK$23,678 per sq ft, by tender, the highest price at the project.

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