11-12 Headland Road
11-12 Headland Road
11-12 Headland Road
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Review of Operations – Business in Hong Kong • Land Bank<br />
The total costs of acquisition for the above 23 urban projects are estimated at about HK$7,000 million, translating into an average land cost<br />
of approximately HK$3,900 per square foot of gross floor area.<br />
Further acquisitions, involving another 45 projects which are located in various highly accessible urban districts as noted below, are in<br />
progress and they are expected to provide an additional total attributable gross floor area of approximately 5.5 million square feet upon<br />
successful completion of their acquisition and redevelopment:<br />
1. Hong Kong<br />
Land area<br />
(sq.ft.)<br />
Expected gross floor area in future<br />
redevelopment<br />
(sq. ft.)<br />
Central & Western <strong>12</strong>1,324 952,957<br />
Island East 80,003 747,447<br />
Causeway Bay 32,387 314,436<br />
Aberdeen 23,017 208,780<br />
Wanchai 8,084 72,756<br />
Sub-total: 264,815 2,296,376<br />
2. Kowloon<br />
Hung Hom <strong>12</strong>1,750 1,095,750<br />
Tai Kok Tsui <strong>11</strong>4,939 988,852<br />
Homantin 79,430 643,013<br />
Sham Shui Po 50,141 448,979<br />
Sub-total: 366,260 3,176,594<br />
Total: 631,075 5,472,970<br />
Together with the above-mentioned<br />
23 projects in which majority ownership is<br />
already held, the successful acquisition of<br />
these additional 45 projects will add to the<br />
Group a total of 68 urban redevelopment<br />
projects, with an estimated total attributable<br />
gross floor area of about 7.3 million<br />
square feet.<br />
B. Existing projects<br />
In addition to the above newly-acquired<br />
urban redevelopment projects, the Group<br />
had a total of 9 existing projects under<br />
planning for redevelopment or conversion<br />
into other purposes which would provide<br />
about 1.84 million square feet in attributable<br />
gross floor area for commercial and<br />
residential use in the urban areas. With<br />
approval having been obtained from the<br />
Town Planning Board for the residential<br />
development at the site at 14-30 King Wah<br />
<strong>Road</strong>, North Point, the Group has applied<br />
to the Government for its land-use<br />
conversion. The site is expected to be<br />
developed into twin harbourfront towers<br />
comprising approximately 224,000 square<br />
feet in total residential gross floor area. For<br />
the large-scale residential joint-venture<br />
development project at Yau Tong Bay,<br />
Kowloon, a master layout plan has been<br />
submitted to the Town Planning Board for<br />
review. It is expected that the project will<br />
provide a total developable gross floor area<br />
of approximately 4.4 million square feet, of<br />
which about 810,000 square feet is<br />
attributable to the Group as shown in the<br />
table below:<br />
46<br />
Henderson Land Development Company Limited<br />
Annual Report 2010
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