Taiping Xiehe Quarry Bay Industrial Building

Taiping Concord intends to build a construction site on the waterfront of Quarry Bay. After consultation with the Government, it will reach an agreement on land exchange for the original site to expand the site area by 2.4 times to 92,000 square feet. However, the height of the building will be reduced and the hotel, retail and other uses will be built. Pay full land price.

In the early years, Tai Ping Kwai and the two estates were purchased at Hoi Yu Street on the waterfront of Quarry Bay. In 2001, the building plans were approved for the construction of the industrial building. The nostalgic-themed “Old Hong Kong” project, including hotels and Office, but was rejected by the Town Planning Board.

The area of ​​the site is expanded by 2.4 times.

After many years, the developer restarted the construction of the industrial building last year, causing public attention to the impact of the scale of the entire Quarry Bay waterfront, and received government involvement in negotiations.

The Development Bureau announced yesterday that the Government plans to replace the land with the landowners at Hoi Yu Street, Quarry Bay, to optimize the development of the waterfront to replace the proposed development of the two industrial sites.

A spokesman for the Development Bureau said that the public has always expressed that it does not wish to build industrial buildings on the waterfront. It should be replaced by a development plan that is more integrated with the surrounding environment. The landowners responded positively and proposed an alternative to seaside leisure, tourism and commercial development. .

10m wide waterfront promenade for public enjoyment

The development plan will be carried out in the form of the original site exchange. The two sides of the developer holding a total area of ​​27,000 square feet will be handed over to the Government. The Government will also grant 92,000 square feet of land at the same time. 2.4 times.

Although the land area is expanding, the scale of the project will be maintained at about 400,000 square feet, which is similar to the old one. The development plan is also changed from the original 25-storey industrial building to a shorter retail, hotel and leisure. And office facilities, and will maintain a 10-metre wide promenade for public enjoyment.

According to the Quarry Bay Outline Zoning Plan, the site is currently “other designated (cultural or commercial, leisure and tourism related)”. The height of the building is 35 metres above the main level. Any development plan is required to be obtained. Approval of the regulations.

The Government said that the land development will be developed into a leisure and tourism centre. The developer is preparing to consult the Eastern District Council and the Waterfront Panel and submit a planning application to the Town Planning Board later this year. After approval by the Town Planning Board, the Executive Council will be consulted and formally exchanged. The developer will be required to pay the full market value of the land premium.

Chen Chaoguo, managing director of Savills Valuation and Professional Consultant, said that the community does not want to develop large industrial buildings on the waterfront. Therefore, the government must submit incentives for developers to accept the proposal for land exchange. Although the land is ideal, the location is relatively remote, and it is difficult to develop retail and hotels. According to his estimation, the market value of the land is about 4 billion yuan, and the floor price is about 10,000 yuan.