Residential property in Yau Yat Chuen up for auction with a reserve price of $2.075b

The auction will be held on 3 November.

A 55-year-old residential property in Yau Yat Chuen, Kowloon will be sold via public auction with a reserve price of $2.075b.

The auction will be held at 2:30 p.m. on 3 November at the JLL office, 7/F, One Taikoo Place, 979 King's Road, Quarry Bay, pursuant to an Order for Sale made by the Lands Tribunal under the Land Ordinance.

“The property is to be sold partly with vacant possession and partly subject to existing lettings, tenancies and licences, if any, on an 'as is' basis but subject to the existing building orders and notices,” JLL, the auctioneer for the sale of the property, said.

The three-storey residential building comprises 12 contiguous blocks: Nos. 23A, 23B, 24A, 24B, 25A, 25B, 26A, 26B, 27A, 27B, 28, 29A, 29B, 30A, 30B, 31A, 31B, 32, 33A, 33B, 34A and 34B Rose Street. Each residential block is served by one common staircase.

The building also has 66 residential units and 66 car parking spaces in the building.

The site of the property was zoned as Residential (Group C)7 under Approved Shek Kip Mei Outline Zoning Plan No. S/K4/31 and it has an area of about 38,960 sq ft.