Real estate asset manager ESR (1821) was awarded a logistic site in Kwai Chung for more than HK$5 billion, according to the Lands Department yesterday.
Sunrise Victory, a unit of ESR, has won the bid for a 50-year land grant at a premium of HK$5.26 billion, the government said.
The site, which is located at the junction of Mei Ching Road and Container Port Road South, has a site area of about 55,245 square meters and is designated for logistics services and public vehicle park purposes.
The maximum gross floor area that may be attained is 138,000 sq m for developing multi-storey modern logistics facilities and a public vehicle park, so as to have multiple purposes within the site, the government said.
The valuation of the site ranges from HK$4.46 billion to HK$5.94 billion.
A total of three bids were received when the tender closed on Friday. Other tenderers included Goodman and Mapletree. The positive market response to the tender exercise for Kwai Chung Town Lot No. 531 reflects the demand for logistics land, said a government spokesman, adding that the government will continue to identify more suitable sites for the development of multi-storey modern logistics facilities.
A view of Kwai Chung terminal. Sing Tao
