Property at Nos. 16 to 94 Pan Hoi Street and Nos. 983 to 987A King's Road in Quarry Bay for Auction under Land (Compulsory Sale for Redevelopment) Ordinance

Hong Kong, August 28, 2023 – JLL today announced it has been appointed as the auctioneer for the sale of properties at Nos. 16, 18, 20, 22, 24, 26, 28, 30, 32, 34, 36, 38, 40, 42, 44, 46, 48, 50, 52, 54, 56, 58, 60, 62, 64, 66, 68, 70, 72, 74, 76, 78, 80, 82, 84, 86, 88, 90, 92 & 94 Pan Hoi Street and Nos. 983, 983A, 985, 985A, 987 & 987A King's Road in Quarry Bay (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 11:00 am on 19 September 2023 (Tuesday) and the Property has a reserve price of HKD 6.31 billion.

The Property comprises an 11-storey tenement building at Nos. 983-987A King's Road and Nos. 16-22 Pan Hoi Street, a 9-storey tenement building at Nos. 24-38 Pan Hoi Street and seven pairs of 8-storey tenement buildings at Nos. 40-42 and 44-46 Pan Hoi Street; Nos. 48-50 and 52-54 Pan Hoi Street; Nos. 56-58 and 60-62 Pan Hoi Street, Nos. 64-66 and 68-70 Pan Hoi Street; Nos. 72-74 and 76-78 Pan Hoi Street; Nos. 80-82 and 84-86 Pan Hoi Street and Nos. 88-90 and 92-94 Pan Hoi Street.

The 11-storey building is served by four common staircases with basement permitted for use as stores for non-domestic use, ground floor permitted for use as shops for non-domestic purpose and a tenement for domestic purpose and upper floors permitted for use as tenements for domestic purpose.

The 9-storey tenement building is served by four common staircases. The ground floor is permitted for use as shops for non-domestic purpose and tenements for domestic purpose and upper floors are permitted for use as tenements for domestic use.

Each pair of the seven pairs of 8-storey tenement buildings is served by two common staircases, with shops at the front portion of the ground floor for non-domestic purpose and "Chinese type apartments" at the rear portion of the ground floor and the upper floors for domestic purpose.

The site is zoned as "Residential (Group A)" under approved Quarry Bay Outline Zoning Plan No. S/H21/28. It has a site area of 43,881 sq ft.

The Property is being sold partly with vacant possession and partly subject to existing lettings, tenancies and licences (if any) and 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.