15/11/2017-7

To Kwa Wan transformation of industrial buildings to be redeveloped residential buildings

In recent years, the transformation of industrial old districts in To Kwa Wan has been accelerated. Owners of buildings in the district have re-planned and re-established the industrial buildings to be residential or commercial buildings and completed the construction of a number of railway infrastructures. The district will develop into a new comprehensive development zone.

In recent years, the demand for industrial floors and the vacancy rate have increased in To Kwa Wan. According to the 2014 All-Territorial Industrial Zone Study, the vacancy rate of industrial buildings in the district is about 20%. Most industrial buildings are those with higher ages Ownership, so that reconstruction has a certain degree of difficulty. However, in order to promote intra-regional restructuring, the Government has rezoned various plots of land in the northeastern To Kwa Wan into “CDAs” and subdivided them and implemented a number of transport infrastructures to promote the redevelopment of the area for residential and commercial development. In conjunction with the neighboring Kai Tak development.

Ownership is difficult to decentralized reconstruction

Among them, the Xinhua Group Cai family and other stakeholders just in the new Pier Street, 3 to 5, the entire building of Happy Building, apply for the reconstruction of a 25-storey (with two basement) commercial buildings. The project is adjacent to the project Grand Waterfront, with a site area of ​​about 22,000 square feet. It is a 11-storey industrial building of about 56 years old. The “Tunnel Ventilation Tower” currently planned for “Other Specified Uses” and the “Government, Agency or community. ” Since the site is no longer required to be constructed as a tunnel ventilation tower in the Central Kowloon Route Development Plan, it is redeployed.

The site is intended to be converted into office use for retail and food and beverage facilities. It is diverted to commercial areas with a plot ratio of 12x and a total gross floor area of ​​approximately 263,000 sq ft. The two-storey basement and part of the ground floor of the property will serve as a parking lot. The ground floor will be allocated for retail use on the 4th floor, covering about 64,000 square feet of floor space. As for the 5th floor or above floors for office use, the commercial floor of about 199,000 square feet, estimated to be completed as soon as 2024. At present, there are no more land for the bus terminus. If there is no other rezoning development, we believe that the redevelopment project will enjoy sea views and look forward to the Victoria Harbor area.

As the site of 5.67 hectares of land along Song King Tai Road, To Kwa Wan Road, Muk Cheong Street and Kowloon City Road has been subdivided into four “Comprehensive Development Zones” by the TPB many years ago, an estimated provision of 5.493 million square feet Therefore, in addition to the development of commercial buildings, many industrial owners in the area are interested in rebuilding their properties for commercial and residential development.

Dongfang Mill plans to build 777 houses

Including 5-7 Muk Chuen Street, Kowloon City and 70-88 Sung Wong Tai Road held by the Fu Lao Fong family will be developed to provide 979 commercial and residential projects. The site will be divided into two parts. The reconstruction project of East Mills will construct two 30-storey high-rise buildings, 25 floors for residential floors, involving 777 gangs, clubs and shopping malls. The second phase of the development of the Golden Court Industrial Building is rebuilt into a 30-storey building involving 202 gangs. The entire project involves 700,000 square feet of commercial and residential buildings.

In addition, together with the redevelopment sites in the area, it is estimated that there will be more than 1,500 new supply projects in the future. Large-scale infrastructure networks such as the Shatin Central Line and the Central Kowloon Route will be completed one after another. Traffic in the vicinity will be further facilitated to facilitate the renewal and transformation of the entire district.