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June 28, 2022

Wan Chai site sold for more than HK$1.9 billion
The tender for a non-industrial site in Wan Chai has been awarded on a 50-year land grant at a premium of HK$1.962 billion, the Lands Department announced earlier. Inland Lot No. 9061 at 269 Queen's Road East was awarded to Achieve Bright, a subsidiary of Swire Properties. It has a site area of about 1,226.6 sq m and is designated for non-industrial purposes, excluding godown, hotel and petrol filling station. The site's minimum and maximum gross floor areas are 6,477 sq m and 10,794 sq m. It is one of the few residential sites on Hong Kong Island to be included in the HKSAR Government's Land Sale Programme this year. 
     Tim Blackburn, Chief Executive of Swire Properties, said, “The plot has enormous potential and will play to our strengths especially when it comes to creating premium, high quality residential developments.  This latest venture will build on our success story in Wan Chai where our EIGHT STAR STREET residential project continues to be well-received. We look forward to providing more information on our development plans for 269 Queen's Road East in due course.”
     Swire Properties is actively exploring residential opportunities in its home market in Hong Kong. Earlier this year, the company unveiled a HKD100 billion investment plan for the next decade – of which 20% has been earmarked for new residential trading opportunities in Hong Kong, the Chinese Mainland and South East Asia.