Savills Appointed Sole Agent for the Sale of a Residential Site in the Northern Metropolis

The site, of Residential (Group C) 3 in terms of town planning standards, spans approximately 56,119 square feet in area and is intended primarily for low-rise, low-density residential developments that are up to 3 storeys with a maximum height of 9.5 metres and no more than 15% of site coverage. A maximum plot ratio of 0.4 will render a maximum GFA of 22,447 square feet approximately at the site.

The Northern Metropolis as proposed in the 2021 Policy Address is envisioned to be an integrated living and economic region that will leverage the strengths of integration of Shenzhen with the northern part of Hong Kong including Yuen Long and North District. With a total land area of about 300 square kilometres, the Northern Metropolis will become a new community that is both livable and conducive to business, with a projected capacity of approximately 2.5 million residents and 650,000 job positions, some 150,000 of which will be in the innovation and technology industry.

Mr. Raymond Wan, Chief Senior Director, Investment of Savills commented, "The property involved in this sale by tender is a pleasant site on the side of a road that stretches 140 metres in length and provides easy connection to most parts of Yuen Long and North District, including a 2-minute drive to Fanling Golf Course and a 20-minute drive to Kam Tin and Yuen Long. The site is ideally set for the proposed Northern Metropolis and will benefit from its huge prospects of a new vibrant economic belt."