HC Deb 26 July 1979 vol 971 cc403-6W
Mr. Parry

asked the Lord Privy Seal what is the present level of compensation per square foot for (a) shops, (b) other businesses and (c) flats being currently offered to tenants of Sai Lau Kok in Hong Kong; and how these levels compare with market prices for similar properties, bearing in mind the enhanced values that obtain by close proximity to the proposed mass transit railway station.

Mr. Blaker

Statutory compensation is based on open market values at the time when the property in question is resumed by the Crown. Depending on the size, location and other facilities of the properties, compensation at the date of rever- sion on 12 November 1978 was as follows:

Commercial Premises Between HK$850 and HK$1,100 per square foot. Comparable properties in the area were then selling at about HK$800 per square foot.

Flats Between HS$400 and HK$450 per square foot. Similar flats in buildings without lifts were being sold at similar rates.

Mr. Canavan

asked the Lord Privy Seal if representations have been received from Peking or the Chinese Embassy in London concerning the expropriation of property at Sai Lau Kok, Tsuen Wan in Hong Kong.

Mr. Blaker


Mr. Canavan

asked the Lord Privy Seal if he will publish in theOfficial Report the company or companies involved in the private development of the mass transit railway depot site proposed at Sai Lau Kok, Hong Kong, their authorised and paid-up capital, the officers and principal shareholders and which of these officers or shareholders, if any, are members of (a) the Lands Tribunal, (b) the Advisory Committee on Transport or (c) any other committee that advises on or is consulted over the route and planning of finance of the mass transit railway operations in the New Territories.

Mr. Blaker

The area of land known as Sai Lau Kok is required for the construction of Tsuen Wan station, the main line, associated lines and some highway works. The private development planned is to the east of this area.

The companies currently involved in this development are the Sun Company Limited and the Kiu Kwong Investment Corporation Limited. The involvement of Jardine Matheson and Company Limited and the Hong Kong Land Company Limited has been agreed but not yet finalised. The details requested are contained in public documents available in Hong Kong. Copies will be placed in the Library of the House when available. However, none of the officers or principal shareholders is a member of the Lands Tribunal or of the Transport Advisory Committee.

Details of the companies are as follows:

Company Authorised capital (Hong Kong $) Paid up capital (Hong Kong $) Officers Principal shareholders
Sun Company Ltd. 100,000,000 52,660,000 John Lok Hsiao-pei
Stanley Lok Hsiao-yin
Chan Shin
Madam Tan Kwun Yuan
Kiu Kwong Investment Corporation Limited 1,000,000 1,000,000 Woon Kong-lai Chuang Shih-ping
Chuang Shih-ping Sung Wen-ming
Cheong Man-chung Cheong Man-chung
Liang Sien Tsa Ping
Jardine Matheson and Company Limited* 1,500,000,000 1,259,408,586 D. K. Newbigging
J. J. o. Brown
W. J. Downey
B. Dickinson
D. C. Le F. Edwards
C. W. F. Fiddian-Green
E. J. V. Hutt
Hsu Hou-yu
J. A. Heywood
H. N. L. Keswick
Sir J. H. Keswick
S. L. Keswick
Robert Chiu Kung Kwok
D. D. B. McLeod
R. D. P. Michell
R. E. Moore
M. I. M. Smith
E. G. Vorster
Sir M. A. R. Young-Herries
The Hong Kong Land Company Limited* 4,000,000,000 2,403,487,985 D. K. Newbigging
Lo Man-wai
Sir Y. K. Kan
L. W. Gordon
George Ho
T. J. Bedford
Wu Shun-tak
Hui Sai-fun
* Involvement of companies agreed but not yet finalised.
† Information not immediately available.