Henderson Land Development (0012) has acquired ownership of properties at 30-32, 34, 36, 38 and 40 Gillies Avenue South, as well as 75-77 Baker Street in Hung Hom for a total of about HK$1.45 billion, according to Knight Frank.
Henderson executive director Augustine Wong Ho-ming said the company is waiting for approval of the compulsory sales order. If successful, the aggregate gross floor area may be about one million square feet.
Separately, Wong said the land premium in Kwun Tong Tsai Bay can’t be completed within this year, and the company is currently negotiating the land premium for its projects with the government.
Wong said it is possible to sell acquired sites and projects to Chinese enterprises if their bidding prices are reasonable.