Property in Yau Yat Chuen, Kowloon up for auction

HONG KONG, 12 October 2022 – JLL today announced it has been appointed as the auctioneer for the sale of a property at Nos. 23A, 23B, 24A, 24B, 25A, 25B, 26A, 26B, 27A, 27B, 28, 29A, 29B, 30A, 30B, 31A, 31B, 32, 33A, 33B, 34A and 34B Rose Street in Yau Yat Chuen, Kowloon (the "Property") by public auction pursuant to an Order for Sale made by the Lands Tribunal under the Land (Compulsory Sales for Redevelopment) Ordinance.

The public auction will be held at 2:30 pm on 3 November 2022 (Thursday) and the Property has a reserve price of HKD 2.075 billion.

The 55-year-old property, which comprises 12 contiguous blocks (i.e. Nos 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33 and 34), is a 3-storey residential building over a single storey carport. Each residential block is served by one common staircase. According to the approved building plans, there are a total of 66 residential units and a total of 66 car parking spaces in the building.

The site is zoned as Residential (Group C)7 under Approved Shek Kip Mei Outline Zoning Plan No. S/K4/31 and it has a site area of about 38,960 sq ft.

The Property is to be sold partly with vacant possession and partly subject to existing lettings, tenancies and licences (if any), on an 'as is' basis but subject to the existing building orders and notices.

The public auction will be held at the JLL office, 7/F, One Taikoo Place, 979 King's Road, Quarry Bay, Hong Kong.