apc report (hkis)
TRANSCRIPT
THE HONG KONG INSTITUTE OF SURVEYORS
Assessment of Professional Competence
(General Practice Division)
FINAL SUBMISSION
Submitted by: Tsun Sheung Ming
HKIS No.: 86661
APC FINAL SUBMISSION CONTENTS
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CONTENTS
PART I INTRODUCTION
1. Objective 2
2. Report Outline 2
3. Academic Background and Training Schedule
2
PART II SUMMARY OF EXPERIENCE
1. Types of Work Undertaken 3
2. Geographical Area of Experience 6
3. Type of Properties 6
4. Level of Responsibility
6
PART III PROJECTS UNDERTAKEN
Project 1 Market Value Assessment for a Land Sale Site in Ma On Shan for
Internal Reference Purpose
8
Project 2 Processing a Proposed Land Sale Site in Yan Ching Street, Tuen
Mun, New Territories
46
PART IV
PRE-QUALIFICATION STRUCTURED LEARNING 63
PART V
CONCLUSION 68
PART VI CERTIFICATION
APC FINAL SUBMISSION INTRODUCTION
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PART I INTRODUCTION
1. OBJECTIVE
Pursuant to the provisions of paragraph 5.5 of the Rules and Guide to the Assessment of
Professional Competence (General Practice Division) June 2012 issued by The Hong
Kong Institute of Surveyors, I submit herewith this Final Report summarizing the
professional training and experience I have acquired since the submission of my Interim
Report in September 2013 and two projects undertaken by me during the whole training
period.
2. REPORT OUTLINE
This report is divided into six parts. Part I, the introductory part, summerises my
academic background and training schedule in the past two years. Part II is a summary
of the professional training received and experience that I acquired during the second half
of my two year training programme. The critical analysis of two projects undertaken by
me during the training period is included in Part III. Part IV lists out the
pre-qualification structured learning I have attended. Finally, Part V and Part VI are
respectively a conclusion and a certification.
3. ACADEMIC BACKGROUND AND TRAINING SCHEDULE
Having graduated from the University of Hong Kong with a Bachelor Degree of Science
in Surveying in 2010, and also a Master Degree in Planning in the University of New
South Wales in 2012, I was employed by the Lands Department of the Government of
Hong Kong Special Administrative Region as an Estate Surveying Graduate in September
2012. During the past two years of professional training, I was posted to three different
sections of the department. The training schedule for each posting and the respective
areas of experience obtained are summarized as follows:
Period Section Relevant APC Area*
17.9.2012 – 17.3.2013 Railway Development Section/ Urban 5
18.3.2013 – 14.3.2014 District Lands Office/ Tuen Mun 1, 2 & 3
15.3.2014 – 16.9.2014 Valuation Section 1 *
Notes:
Area 1 - Valuation of Land and Buildings in relation to Capital and Rental Values Area 2 - Estate Management and Landlord and Tenant including maintenance and repair Area 3 - Sales, Letting and Purchases of Land and Buildings Area 5 - Compulsory Acquisition and Compensation
APC FINAL SUBMISSION SUMMARY OF EXPERIENCE
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PART II SUMMARY OF EXPERIENCE
1. TYPES OF WORK UNDERTAKEN
1.1
DISTRICT LANDS OFFICE/TUEN MUN (18.3.2013 – 14.3.2014)
[Area 1 - Valuation of Land and Buildings in relation to Capital and Rental
Values]
[Area 2 - Estate Management and Landlord and Tenant including maintenance
and repair]
[Area 3 - Sales, Letting and Purchases of Land and Buildings]
During the first 6 months of the second year of my professional training, I worked in
the District Lands Office/Tuen Mun. District Lands Offices in Lands Department
were mainly responsible for day to day land administration works in Hong Kong. I
have undertaken a number of tasks including processing long-term and short-term
disposal of land, handling lease modification applications and waiving some of the
lease terms, etc. My main duties during this period were summarized as follows:-
1.1.1
Long term disposal of land
There are several means for land to be disposed by the Government, such as
auction, tender and private treaty grant. During the training period, I had an
opportunity to draft the Conditions of Sale for a vacant site pending for disposal. I
incorporated the comments from other departments on the draft lease conditions and
assisted the drafting of a lease document submitted to an internal conference for
consideration.
Through this exercise, I gained a better understanding of the relation between
various lease conditions and the site condition. In particular, my Project 2 at Part
III of this report has illustrated the techniques and knowledge I have acquired in a
land disposal in Tuen Mun.
1.1.2 Processing applications for lease modification
The lease modification cases I involved in the District Lands Office/Tuen Mun
included the change of user and development parameters in certain Government
lease conditions upon consideration of the application and the site condition.
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One of the cases I handled is related to the modification of user of a godown
building to incorporate industrial use. Some parameters such as height of the
building were also revised. When drafting new conditions, I studied the Outline
Zoning Plan and the original lease document. I also assisted in drafting the
modification letter and circulation memos to seek comments from relevant
departments. After consolidating all the comments, the proposal was submitted to
the internal conference for approval.
The lease modification I handled enabled me to better understand the
interpretation of various clauses, the rationale behind of such clauses and their
implication on the developments.
1.1.3 Temporary variation of the use of a building by Waiver
Temporary variation of use in buildings could be permitted by means of
Temporary Waiver. Lands Department may grant a Temporary Waiver to relax
user restriction under Government leases subject to a payment of waiver fee.
During my term in the District Lands Office, I have assisted in drafting waiver
conditions. First, I verified the status of the applicants to ascertain the validity
of the application, and then I studied the existing lease conditions and drafted
the waiver conditions and incorporated the comments from relevant
departments. Besides, I also reviewed waiver fees for existing waivers. I
assessed the rental values for the “After” use and “Before” use by collecting rental
comparables and making suitable adjustments.
The waiver cases I handled during the training period included industrial and retail
properties. I have deepened my understanding on the restrictive covenant of the
lease conditions from enforcement perspectives.
1.1.4 Short Term Land Disposal by Short Term Tenancy (“STT”)
Lands Department also disposes lands which are pending permanent development
to private sectors by way of Short Term Tenancies (“STTs”). STTs will be
disposed of by public tender or direct grant.
I have dealt with several STTs cases during my training period. I assisted in
drafting the Tenancy Agreement and the circulation memo to collect the comments
from relevant departments. Upon approval of the STTs by the internal conference,
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I also assisted to assess the market rental of the STT if applicable.
Through these exercises, I have been more familiar with the terms under the
tenancy agreement, the market rental assessment and land management as a
landlord.
1.1.5 Lesson Learnt in District Lands Office/ Tuen Mun
My professional training in the District Lands Office offered me large exposures to
land documents and lease conditions. Through the drafting of lease conditions, I
understand better the interpretation on the rationale and implication of various
clauses on how they might vary the development potential of a site. I have
obtained a more comprehensive knowledge on how land resources are administrated
through different management practices in Hong Kong from a government
perspective.
1.2
VALUATION SECTION (15.3.2014 – 16.9.2014)
[Area 1 - Valuation of Land and Buildings in relation to Capital and Rental
Values]
The Valuation Section is a centralized section overseeing the valuation related
cases. It provides valuation advices by auditing valuation submissions from the
District Lands Offices and preparing valuations for auction, tender, revenue
estimates and appeals. I worked in the Valuation Section for 6 months under the
Audit Team.
1.2.1
Premium Assessment of Lease Modification and Land Exchange cases
Upon acceptance of the provisional basic term offers for lease modification or land
exchange, a premium assessment would be required.
Such a premium would be assessed on the basis of enhancement in land value
before and after the lease modification / land exchange. To handle these cases, I
first studied the background of the cases and the relevant lease conditions in the
original government leases, modification letters or consent letters. To ascertain the
optimal hypothetical development, apart from the above documents, I would also
examine the prevailing Outline Zoning Plan, Building (Planning) Regulation as well
as the draft special conditions for the cases. In case of uncertainty, I would also
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enquire the District Lands Offices for more information.
Site visits were then conducted to identify the site characteristics, physical
constraints, configuration, development in the vicinity and the surrounding
environment. I would then gather and analyze the comparables accordingly, and
assigned essential adjustments according to the market conditions to deduce an
appropriate unit rate. Depending on the cases, direct comparison, residual
valuation or profit method were used for the assessments.
After considering the above, I would prepare premium assessments in a valuation
report format for my supervisor’s consideration.
1.2.2
Valuation for land value for tendering and land sale projects
I was also appointed to assess the Market Value ("MV") of a government site
located at Ma On Shan disposed of by way of tender (details as shown in Project 1
in Part III). In preparing the assessments, I examined the Conditions of Sale and
other relevant statutory provisions such as the Building (Planning) Regulations and
Outline Zoning Plan to ascertain the development potential of the site. Site visits
were carried out to familiarise myself with the locality and the condition of the
subject lot.
I then collected relevant land sale comparables for direct comparison purpose.
Since there was only one suitable land sale comparable, I carried out a residual
valuation by formulating the optimal development for the site and collecting
relevant property transaction records for direct comparison. The MV of the site
was assessed and presented in form of a valuation report which was submitted for
my supervisor’s consideration.
2. GEOGRAPHICAL AREA OF EXPERIENCE
During my training in the Valuation Section, the geographical areas of my work
covers Hung Hom, Tai Kok Tsui, Cheung Sha Wan, Tsuen Wan, Tuen Mun,
Yuen Long, Fanling, the Western District and Causeway Bay.
In the District Lands Office, the geographical areas of my work covered various
districts in Tuen Mun, such as the Industrial zone, the Tuen Mun Town Central,
Castle Peak Road and also Lung Kwu Tan.
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3. TYPES OF PROPERTIES
I dealt with various types of properties including house-type developments and
medium to high-rise buildings for commercial, residential or industrial uses.
4. LEVEL OF RESPONSIBILITY
During my training period in Lands Department, I worked under the supervision
of Estate Surveyors and Senior Estate Surveyors who scrutinised my works such
as the valuation notes, minutes and other assigned tasks. With the guidance of
my supervisors, I handled the cases independently in a professional and timely
manner. I had regular discussions with my supervisors to ensure that I was
working on the right track with essential professional calibre.
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PART III PROJECTS UNDERTAKEN
PROJECT ONE - CRITICAL ANALYSIS (PRESENTATION
PROJECT)
Market Value Assessment for a Land Sale Site in Ma On Shan for Internal Reference
Purpose
(APC Area 1 – Valuation of Land and Buildings in Relation to Capital and Rental Values)
1. OBJECTIVE
To assess the Market Value (“MV”) of Sha Tin Town Lot No. 598 (STTL 598)
in Ma On Shan, Sha Tin ("The Lot"), as at 24.07.2014 for internal reference
purpose.
2. BACKGROUND
The lot was a vacant Government site located at the intersection of Hang Hong
Street and Sai Sha Road in Ma On Shan (Location plan at Appendix I). It is
shown coloured pink, pink hatched black and pink hatched black stippled
black on the plan at Appendix II. It was included in the 2014/2015 Land
Sale for Tender for private residential development. I was instructed to
assess the MV of the Lot in July 2014 for internal reference purpose.
3. PERSONAL INVOLVEMENT AND TECHNIQUES APPLIED
3.1 Identification of Development Potential of the Lot
To identify the development potential of the Lot, I conducted a site visit and a
detailed examination on the development controls, including relevant Outline
Zoning Plan (“OZP”), the draft Special Conditions of the Lot and the Building
(Planning) Regulations (“B(P)R”).
(i) Site description
The Lot is in rectangular shape and located at the end of Hang Kwong
Street and abuts Sai Sha Road to the west and Hang Hong Street to the
south. It is surrounded by low-rise GIC facilities including a church, an
electricity substation and schools. Across Sai Sha Road to the west is
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the Chung On Estate. To the south across Hang Hong Street are Ma On
Shan Sports Ground and Ma On Shan Recreation Ground. At the time
of inspection, the site was being vacated. Aerial photo, commanding
views and photos of the subject site are attached at Appendix III.
The locality is predominated by medium to high rise residential
developments such as The Waterside, Marbella and Sunshine City.
Shopping facilities in the vicinity are mainly provided in the form of
shopping centres with a walkable distance. It takes about 10 minutes to
walk to the Ma On Shan MTR station. Public transport facilities are
available along Hang Hong Street and Sai Sha Street. The accessibility
of the Lot is considered good. The Lot was used by the Water Supplies
Department as a maintenance contractor’s yard and the temporary
structures on the lot were being removed at the date of valuation.
(ii) Restriction under OZP
The Lot is zoned Residential (Group B) 3 (“R(B)3”) (with a small portion
zoned Government, Institution or Community (“G/IC”)) on the Draft Ma
On Shan Outline Zoning Plan No. S/MOS/19. Town Planning Board,
upon Lands Department’s application, approved the Planning Application
No. A/MOS/98 on 25.4.2014 to increase the maximum permissible GFA
from 8,910m2 to 10,692m2 and the maximum permissible building height
from 50mPD to 60mPD for the Lot. Copies of an extract of the OZP
and Notes and extracted copies of the Planning application is attached at
Appendix IV.
(iii) Restriction under the draft Special Conditions
The draft Special Conditions governing the Lot was examined. Site
particulars and a summary of the draft Conditions of Sale are listed at
Appendix V(a) and Appendix V(b) respectively. A summary of the
major development clauses is shown as follows:-
(a) Site Area : 3,100.0m² (about)
(b) Non-Building
Areas
: Pink Hatched Black Area
Pink Hatched Black Stippled Black Area
(c) User : Private Residential Purposes
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:
(d) Total Gross Floor
Area (“GFA”)
Minimum: 6,415m2
Maximum: 10,692m2
(e) Height Restriction : Not exceeding 60m above Hong Kong
Principle Datum (“HKPD”)
(f) No. of Residential
Units
: Minimum: 180
(iv) Restriction under B(P)R
The Lot is classified as a Class B site under Regulation 18A of B(P)R.
According to Schedule 1 of B(P)R, the maximum permitted plot ratio and
site coverage for domestic building over 55m but not exceeding 61m are
7 and 39% respectively.
In parallel with the consideration of the development restrictions under
lease and OZP, the maximum site coverage, building height and GFA of
the Lot are 39%, 60mPD and 10,692m2 respectively.
3.2 Valuation
Date of Valuation : 24.07.2014
Basis of Valuation : Market Value (MV) of the Lot
Purpose of Valuation : For internal reference purpose
3.2.1 Determination of Valuation Method
In assessing the MV, direct comparison of the Lot with the land sale
comparables was first considered. There was one suitable government land
sale comparable transacted on 25.06.2014 in Ma On Shan district. Its
development parameters and transacted price is summarized at Appendix VI.
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The government land sale comparable, namely Sha Tin Town Lot No. 599
(“STTL599”), was sold around one month before the date of assessment of the
MV of the Lot. The following table shows the comparison of the
development parameters of STTL599 and the Lot.
Table1 : Comparison of development parameters
STTL599 Subject Lot
(a) Location
: Ma Kam Street Hang On Street
(b) View : Partial Seaview Open View
(c)
Site Area : 3,091m2 (about) 3,100m2 (about)
(d) User (under
Lease)
: Private residential
(e) Zoning : Residential (Group B) 4 Residential (Group B) 3
(f) Maximum
GFA
: 18,600m2 10,692m2
(g) Maximum SC
(under B(P)R)
: 39%
(h) Minimum No.
of Residential
Units
: 310 180
(i) Height
Restriction
: 90mPD 60mPD
Table2 : Sale Price and Accommodation Value of STTL 599
Sale Price : $703.8M
Accommodation Value (“AV”)* : $37,839/m2
*AV = Sale Price / Maximum permitted Gross Floor Area
Having regarded to the date of transaction, user and development parametres,
STTL 599 is considered a suitable land sale comparable. The subject site is
inferior to the land sale comparable in terms of location, development scale
and view. Adjustments had to be made to reflect the difference in these
factors and also the time factor. The adjusted AV for the subject site would
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likely to be around $35,000 (7.5% downward). As there incurs a certain
degree of arbitrary adjustments to the land sale comparable, Residual
Valuation method is adopted as a further analysis for the MV assessment.
3.3 Residual Valuation Method
3.3.1 Determination of Optimum Development
There are a variety of flats supply in Ma On Shan ranging from 1-room to
4-room units, with a significant majority of 2-room units. Recent transaction
records also show that 2-room units are most popular and frequently
transacted. Together with the restrictions stipulated in the Government
Lease, OZP and B(P)R, in particular the height restriction in the OZP and the
lease, I considered that the optimum development for the subject site would be
2 blocks of 14-storey residential building with 7 flats per floor over a 1-storey
car park basement. A total 196 residential units would be provided with an
average flat size of about 54.55m² (G) / 44.77m² (N).
3.3.2 Assembly and Analysis of Comparables
In order to assess the Gross Development Value (“GDV”) of the proposed
development, flat sale comparables are collected. Site inspections have been
carried out to identify the differences and similarities including the
surrounding environment, characteristics and view commanded between the
proposed development of the subject site and the comparables.
Having considered the above, it is concluded the sale comparables from
Oceanaire, Marbella, the Waterside and La Costa are the most relevant
comparables in terms of location, accessibility, surrounding environment and
view.
(a) Flat Sale Comparables
Flat Sale Comparables are compiled at Appendix VII (a) with
comparable plan at Appendix VII (b). The transactions were recorded
between 1/2014 to 7/2014 with sizes ranged from 46.05m2(N) to
75.21m2(N). Adjustments are made for the differences in date of
transaction, flat size, floor level and building age. The adjusted unit
rates ranged from $94,014/m2(N) to $118,085/m2(N). Non seaview
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comparables are adopted.
(b) Carpark Sale Comparables
Car parking space sale comparables in Ma On Shan are compiled at
Appendix VIII(a) with the comparable plan attached at Appendix
VIII(b). The transactions from 8/2013 to 6/2014 fetched a price
ranging from $698,000/space to $1,600,000/space with an average of
$1,155,765/space. Particular attention was paid to the ratio of carpark
to number of units.
Taking into account the site attributes, comparable transactions, market
sentiment and the supply of domestic unit in the vicinity, the following unit
rates were adopted in the assessment.
Residential Units : $113,000/m²(N)
Carparking Space : $1,200,000/space
3.3.3 Construction Cost and Development Period
Regarding the construction cost for the development, reference was made to
the cost estimates prepared by professional quantity surveying consultant. In
addition, development period of 2.5 years was allowed for the hypothetical
development scheme, with another 9 months time allowed for impact
assessments.
3.3.4 Assessment of Market Value
The Residual valuation was prepared at Appendix IX. The MV of the subject
site as at 24.07.2014 was assessed at $377M representing an overall AV of
$35,263/m² (G).
Compared to the recent land sale transaction on 25.06.2014, it is about 6.8%
less than the transacted overall AV at $37,839/m². It is considered reasonable
because the land sale comparable enjoys a partial seaview, a slightly larger
scale and a relatively more convenient location.
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4. LESSON LEARNT
The project gave me a practical exercise for valuation and strengthened my
understanding in residual valuation. I also become more familiar with the
rationale and various components of the residual valuation. I gained a deeper
understanding of the interpretation of lease conditions and other statutory
controls when formulating the optimal development for the lot. Through this
exercise I have enhanced my market sense and analytical skills.
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5. APPENDICES
I. Location Plan
II. Plan Annexed to the draft Special Conditions
III. Site Photos and Aerial Photo
IV. (a) Extract of the draft Ma On Shan Outline Zoning Plan No. S/MOS/19
(b) Extract of the Notes to “Residential (Group B)” Zone (S/MOS/19)
(c) Extract of the Planning Application No. A/MOS/98
V. (a) Site Particulars
(b) Summary of the draft Special Conditions
VI. Government Land Sale Comparables
VII. (a) Flat Sale Comparables
(b) Flat Sale Comparable Plan
VIII. (a) Carpark Sale Comparables
(b) Carpark Comparable Plan
IX. Residual Valuation
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Appendix I
Location Plan
(NOT TO SCALE – FOR IDENTIFICATION PURPOSES ONLY)
N
Subject Lot
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Appendix II
Plan Annexed to the draft Special Conditions
(NOT TO SCALE – FOR IDENTIFICATION PURPOSES ONLY)
Legend
Site Boundary (Total Site Area : 3,100 m² )
Pink Hatched Black Area
Pink Hatched Black Stippled Black Area
N
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Appendix III
Site Photos
Subject Site (facing south)
View towards the west
Subject Site
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Appendix III
Site Photos
View towards the north
View towards the west
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Appendix III
Aerial Photo
Subject Lot
N
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Appendix IV (a)
Extract of draft Ma On Shan Outline Zoning Plan No. S/MOS/19
(NOT TO SCALE - FOR IDENTIFICATION PURPOSES ONLY)
N
Subject Lot
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Appendix IV (b)
Extract of the Notes to “Residential (Group B)” Zone (S/MOS/19)
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Appendix IV (b)
Extract of the Notes to “Residential (Group B)” Zone (S/MOS/19)
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Appendix IV (c)
Extract of the Planning Application No. A/MOS/98
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Appendix IV (c)
Extract of the Planning Application No. A/MOS/98
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Appendix V(a)
Site Particulars
(a) Location
: Hang On Street, Ma On Shan, New Territories
(b) Site Area : 3,100m2 (about)
(c) Spot Level : about 5.9m above HKPD (5.8m – 6.0m above HKPD)
(d) Class of Site : B
(e) Town Plan Zoning
: “R(B)3” on draft Ma On Shan OZP No. S/MOS/19, and
subsequently modified by the approved Planning Application No.
A/MOS/98
Maximum GFA: 10,692m2
Maximum height: 60mPD
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Appendix V(b)
Summary of draft Special Conditions
(a) Term : 50 years from the date of Agreement
(b) Government Rent : An annual rent of 3% of the rateable value from time to time of
the lot
(c) Building Covenant
: Made fit for occupation before 30.06.2020
(d) User
: Private residential purposes
(e) Total GFA
: Maximum: 10,692m²
Minimum: 6,415m²
(f) Height : Not exceeding 60m above HKPD
(g) Building Separation
: Any building or group of buildings erected or to be erected on the
lot shall not have any projected facade length of 60m or more
(h) No. of Residential
Units
: Minimum: 180
(i) Parking and L/UL Requirements:
(i) Residential Parking
Spaces
[2.5m(w) x 5.0m(l) x
2.4m(h)min]
: Size (GFA) of each
residential unit
No. of Residential Parking
Spaces to be provided
Less than 40m² 1 space for every 15.7 residential units or part thereof
Not less than 40m² but less than 70m²
1 space for every 9.4 residential units or part thereof
Not less than 70m² but less than 100m²
1 space for every 3.7 residential units or part thereof
Not less than 100m² but less than 160m²
1 space for every 1.9 residential units or part thereof
Not less than 160m² but less than 200m²
1 space for every 1 residential unit
Not less than 200m² but less than 350m²
1.5 spaces for every 1 residential unit
Not less than 350m² 2 spaces for every 1 residential unit
Where a detached, semi-detached or terraced house or houses
intended for use as a single family residence or single family
residences are provided:
(A) one space for each such house where its GFA is less
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than 160m²;
(B) 1.5 spaces for each such house where its GFA is not
less than 160m² but less than 220m², provided that if
the number of spaces to be provided under this
sub-clause is a decimal number, the same shall be
rounded up to the next whole number; and
two spaces for each such house where its GFA is not less than
220m².
(ii) Visitors’ Parking
Spaces
[2.5m(w) x 5.0m(l) x
2.4m(h)min]
: (i) 5 spaces for every block of residential units which contains
more than 75 residential units; or
(ii) 1 space for every 25 residential units, subject to a minimum
of two spaces being provided
(iii) Parking Spaces for
Vehicles of the
Disabled
[3.5m(w) x 5.0m(l) x
2.4m(h)(min)]
: Out of the spaces provided in (i)(i) above, 1 space shall be
reserved and designated;
(vi) Motorcycle Parking
Spaces
[1.0m(w) x 2.4m(l) x
2.4m(h)(min)]
: 10% of the total provisions for private cars in (i)(i);
(vii) Bicycle Parking
Spaces
: 1 space for every 10 residential units or part thereof with the size
of each residential unit being less than 70m² GFA
(viii) Loading and
Unloading
Requirements
[3.5m(w) x 11.0m(l) x
4.7m(h)(min)]
: 1 space for every 800 residential units or part thereof, subject to a
minimum of 1 space each block of residential units;
(ix) Flexibility in Parking
Provisions
: The number of spaces provided under (i)(i) to (i)(viii) above may
be increased or reduced by not more than 5% or 50 in number,
whichever is the less. In addition, the number of spaces
provided under (i)(i) and (i)(vi) above may be increased or
reduced by not more than 5%.
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(j) Underground subway
structures - the Pink
Hatched Black Area
Except boundary walls and fences, no building or structure or
support may be erected;
(k) Non-building Area –
the Pink Hatched
Black Stippled Black
Area
The Pink Hatched Black Stippled Black Area shall not be used
for any purpose other than for landscaping purpose. Except
boundary walls and fences, no building or structure or support
may be erected;
(l) Other Conditions :
(i) Indemnify Government against existing buildings and structures clause
(ii) Compliance with Buildings Ordinance clause
(iii) Compliance with Town Planning Ordinance clause
(iv) Building Separation Clause
(v) Design and disposition clause
(vi) Provision of sales office and show flats clause
(vii) Recreational facilities clause
(viii) Preservation of trees clause
(ix) Landscaping Clause
(x) Office accommodation for watchmen and caretakers clause
(xi) Quarters for watchmen and caretakers clause
(xii) Owners’ Corporation / Owners’ Committee Office clause
(xiii) No exempt building clause
(xiv) Restriction on alienation before compliance clause
(xv) Deed of Mutual Covenant incorporating Management Agreement clause
(xvi) Registration clause
(xvii) Restriction on partitioning clause
(xviii) Restriction on alienation of the Residential Parking Spaces and the Motor Cycle
Parking Spaces clause
(xix) Deposit of car park layout plan clause
(xx) Salt water supply clause
(xxi) Definition of gross floor area clause
(xxii) Restriction on merging clause
(xxiii) No grave or columbarium permitted clause
(xxiv) Noise Impact Assessment
(xxv) Noise Barrier
(xxvi) Sewerage Impact Assessment
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Appendix VI
Government Land Sale Comparables
Comparable L1
Lot Number : STTL No. 599
Location : Ma Kam Street, Ma On Shan, New Territories
Date of Transaction : 25.06.2014
Site Area : 3,091 m²
User : Residential purposes
Max. GFA : 18,600 m²
Class of Site
: Class B
Sale Price : $703,800,000
Overall AV : $37,839/m²
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Appendix VI
Government Land Sale Comparables
Subject Lot
Comparable L1:-
STTL No. 599
N
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Appendix VII(a)
Flat Sale Comparables
Comparable R1 –Oceanaire (天宇海天宇海天宇海天宇海)
Address : 18 Po Tai Street
OP Date : 03/2011
Development Profile : 14 blocks of 3-storey houses and 6 blocks of
24-storey residential tower over 1-storey
basement carpark, each tower is served by 4
lifts and 2 staircases
No. of Residential Units : 1,129 (8 units / floor)
Flat Sizes : 60.62m² - 87.25m² (N)
No. of Carparking Spaces : 409
CPS Ratio : 1 space : 2.76 residential units (or 0.36 CPS per
unit)
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Transactions:
Other Adjustments Item Tower/
Block
Floor
Unit Date of
Transaction
Sale Price Saleable
Area
(N) (m²)
Before
Price
Index
Time
Adjusted
Unit Rate
(N) ($/m²)
Flat size Floor
level
Build-
ing age
Total
Total
Adjusted
Unit Rate
(N) ($/m²)
1 3B 23 C 23/07/2014 $6,560,000 67.86 233.20 $96,670 12.43% -2.80% 1.80% 11.43% $107,719
2 6B 19 C 19/07/2014 $6,580,000 68.61 233.20 $95,904 12.81% -1.20% 1.80% 13.41% $108,760
3 6A 11 C 02/07/2014 $6,480,000 69.26 233.20 $93,560 13.13% 1.20% 1.80% 16.13% $108,651
4 3B 9 D 25/06/2014 $6,500,000 66.01 233.20 $98,470 11.51% 2.00% 1.80% 15.31% $113,541
5 1B 16 C 23/06/2014 $6,500,000 68.05 233.20 $95,518 12.53% 0.00% 1.80% 14.33% $109,201
6 1A 17 D 23/06/2014 $7,200,000 75.21 230.20 $95,732 16.11% -0.40% 1.80% 17.51% $112,490
7 2B 15 C 13/06/2014 $6,438,000 67.68 233.20 $95,124 12.34% 0.40% 1.80% 14.54% $108,955
8 1B 21 C 13/06/2014 $6,500,000 68.05 233.20 $95,518 12.53% -2.00% 1.80% 12.33% $107,291
Notes:
(1) Source: EPRC
(2) Time indices provided by Rating and Valuation Department for Private Domestic Properties are used. Base Index at July for Class B
(40m²-69.9m²) is 233.20, base index at July for Class C (70m²-99.9m²) is 230.20.
(3) Assume -0.5%/m2 for difference in flat size, 0.4% for each floor level difference and 0.6% per year for building age difference
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Appendix VII(a)
Flat Sale Comparables
Comparable R2 –Marbella (迎濤灣迎濤灣迎濤灣迎濤灣)
Address : 23 On Chun Street
OP Date : 04/2001
Development Profile : 2 blocks of 32/s residential towers over 3/s podium and 1
level basement carpark, each tower is served by 3 lifts and
2 staircases
No. of Residential Units : 508 (8 units / floor)
Flat Sizes : 46.3m² - 77.4m² (N)
No. of Carparking Spaces : 102
CPS Ratio : 1 space : 4.98 residential units (or 0.20 CPS per unit)
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Transactions:
Other Adjustments Item Tower
/
Block
Floor
Unit Date of
Transaction
Sale Price Saleable
Area
(N) (m²)
Before
Price Index
Time
Adjusted
Unit Rate
(N) ($/m²)
Flat
size
Floor
level
Build-
ing age
Total
Total
Adjusted
Unit Rate
(N) ($/m²)
1 2 25 E 13/06/2014 $4,485,000 46.30 233.20 $96,868 1.65% -1.20% 7.80% 8.25% $104,860
2 1 11 D 22/05/2014 $4,360,000 48.40 233.20 $90,083 2.70% -0.40% 7.80% 10.10% $99,181
3 1 7 G 09/05/2014 $4,100,000 48.80 233.20 $84,016 2.90% 1.20% 7.80% 11.90% $94,014
4 1 5 F 10/01/2014 $3,980,000 46.30 231.10 $86,742 1.65% 2.00% 7.80% 11.45% $96,674
5 1 11 E 20/12/2013 $4,150,000 46.30 232.00 $90,097 1.65% -0.40% 7.80% 9.05% $98,251
6 2 3 D 29/11/2013 $4,100,000 48.40 232.20 $85,076 2.70% 2.40% 7.80% 12.90% $96,051
Notes:
(1) Source: EPRC
(2) Time indices provided by Rating and Valuation Department for Private Domestic Properties are used. Base Index at July for Class B
(40m²-69.9m²) is 233.20.
(3) Assume -0.5%/m2 for difference in flat size, 0.4% for each floor level difference and 0.6% per year for building age difference
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Appendix VII(a)
Flat Sale Comparables
Comparable R3 –The Waterside (雅濤居雅濤居雅濤居雅濤居)
Address : 15 On Chun Street
OP Date : 07/1997
Development Profile : 2 blocks of 42-storey residential towers over 2 level
podium with carpark, each tower is served by 3 lifts and 2
staircases
No. of Residential Units : 502 (7 units / floor)
Flat Sizes : 47.0m² - 76.0m² (N)
No. of Carparking Spaces : 101
CPS Ratio : 1 space : 4.97 residential units (or 0.20 CPS per unit)
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Transactions:
Other Adjustments Item Tower
/
Block
Floor
Unit Date of
Transaction
Sale Price Saleable
Area
(N) (m²)
Before
Price Index
Time
Adjusted
Unit Rate
(N) ($/m²)
Flat size Floor
level
Building
age
Total
Total
Adjusted
Unit Rate
(N) ($/m²)
1 1 17 D 12/06/2014 $4,600,000 47.6 233.20 $96,639 2.28% -2.00% 10.20% 10.48% $106,770
2 1 21 D 09/05/2014 $4,300,000 47.6 233.20 $90,336 2.28% -3.60% 10.20% 8.88% $98,361
3 1 8 E 08/05/2014 $4,180,000 48.5 233.20 $86,186 2.75% 0.80% 10.20% 13.75% $98,034
4 2 21 D 30/4/2014 $4,350,000 47.6 231.10 $92,217 2.28% -3.60% 10.20% 8.88% $100,409
Notes:
(1) Source: EPRC
(2) Time indices provided by Rating and Valuation Department for Private Domestic Properties are used. Base Index at July for Class B
(40m²-69.9m²) is 233.20.
(3) Assume -0.5%/m2 for difference in flat size, 0.4% for each floor level difference and 0.6% per year for building age difference
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Appendix VII(a)
Flat Sale Comparables
Comparable R4 –La Costa (嘉華星濤灣嘉華星濤灣嘉華星濤灣嘉華星濤灣)
Address : 8 Po Tai Street
OP Date : 02/2004
Development Profile : 2 blocks of 32-storey residential tower plus a block of
7-storey carpark, each tower is served by 4 lifts and 2
staircases
No. of Residential Units : 600 (8 units / floor)
Flat Sizes : 37.58m² - 50.21m² (N)
No. of Carparking Spaces : 347
CPS Ratio : 1 space : 1.73 residential units (or 0.58 CPS per unit)
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Transactions:
Other Adjustments Item Tower
/
Block
Floor
Unit Date of
Transaction
Sale Price Saleable
Area
(N) (m²)
Before
Price Index
Time
Adjusted
Unit Rate
(N) ($/m²)
Flat size Floor
level
Building
age
Total
Total
Adjusted
Unit Rate
(N) ($/m²)
1 1 17 F 06/06/2014 $4,920,000 46.05 233.20 $106,840 1.53% -1.20% 10.20% 10.53% $118,085
2 1 17 G 16/05/2014 $4,900,000 46.05 233.20 $106,406 1.53% -1.20% 10.20% 10.53% $117,605
Notes:
(1) Source: EPRC
(2) Time indices provided by Rating and Valuation Department for Private Domestic Properties are used. Base Index at July for Class B
(40m²-69.9m²) is 233.20.
(3) Assume -0.5%/m2 for difference in flat size, 0.4% for each floor level difference and 0.6% per year for building age difference
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Appendix VII(b)
Flat Sale Comparable Plan
(FOR IDENTIFICATION PURPOSES ONLY)
Legend
Flat Sale Comparables
Subject Lot
Comparable R1:-
Oceanaire (天宇海天宇海天宇海天宇海)
Comparable R3:- The
Waterside (雅濤居雅濤居雅濤居雅濤居) Comparable R2:-
Marbella (迎濤灣迎濤灣迎濤灣迎濤灣)
Comparable R4:-
La Costa (嘉華星濤灣嘉華星濤灣嘉華星濤灣嘉華星濤灣)
N
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Appendix VIII(a)
Carpark Sale Comparables
Development Profile Carpark Ratio Floor Unit Date of
Transaction
Consideration
($)
B1 53 07/02/2014 $800,000 Compararble PS1
Marbella (迎濤灣迎濤灣迎濤灣迎濤灣)
23 On Chun Street OP: 04/2001
1 CPS : 4.98 units /0.20 CPS per unit
B1 35 28/11/2013 $698,000
Average: $749,000
M 52 11/04/2014 $1,550,000
M 52 09/10/2013 $1,250,000
G P15 30/09/2013 $1,300,000
Compararble PS2
Sausalito (嵐岸嵐岸嵐岸嵐岸)
1 Yuk Tai Street OP: 11/2007
1 CPS : 6.25 units /0.16 CPS per unit
G P75 16/09/2013 $1,260,000
Average: $1,340,000
B P275 16/06/2014 $800,000
B P81 14/04/2014 $830,000
B P354 28/01/2014 $810,000
P P385 19/12/2013 $840,000
P P384 30/08/2013 $800,000
Compararble PS3
Oceanaire (天宇海天宇海天宇海天宇海)
18 Po Tai Street OP: 03/2011
1 CPS : 2.76 units /0.36 CPS per unit
B P259 05/08/2013 $820,000
Average: $816,667
L1 A113 30/04/2014 $1,600,000
L1 A87 10/04/2014 $1,600,000
L1 A88 10/04/2014 $1,600,000
L1 A4 10/03/2014 $1,530,000
Compararble PS4
Lake Silver (銀湖銀湖銀湖銀湖‧‧‧‧天天天天
峰峰峰峰)
599 Sai Sha Road OP: 07/2009
1 CPS : 5.26 units /0.19 CPS per unit
L1 B15 10/03/2014 $1,560,000
Average: $1,578,000
Total average: $1,155,765
Notes:
(1) Source: EPRC
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Appendix VIII(b)
Carpark Comparable Plan
(FOR IDENTIFICATION PURPOSES ONLY)
Legend
Carpark Sale Comparables
Subject Lot
Comparable PS3:-
Oceanaire (天宇海天宇海天宇海天宇海)
Comparable PS4:-
Lake Silver (銀湖銀湖銀湖銀湖‧‧‧‧天峰天峰天峰天峰)
Comparable PS1:-
Marbella (迎濤灣迎濤灣迎濤灣迎濤灣)
Comparable PS2:-
Sausalito (嵐岸嵐岸嵐岸嵐岸)
N
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Appendix IX
Residual Valuation
Date of Valuation : 24.07.2014
Site Particulars
Site Area : 3,100 m2 (about) (1)
Pink Hatched Black Area : 107 m2 (about) (1)
Pink Hatched Black
Stippled Black Area
: 44 m2 (about) (1)
Mean Spot Level : 5.9 m above HKPD (5.8mPD – 6.0mPD)
Restrictions under OZP
Zoning : "R(B)3" on the Draft Ma On Shan OZP No. S/MOS/19
Max. GFA : 8,910m²
(relaxed to 10,692m² by Approved Planning Application No.
A/MOS/98)
Max. Height : 50m above HKPD
(relaxed to 60m above HKPD by Approved Planning
Application No. A/MOS/98)
Restrictions under B(P)R
Class of Site : B
Max. Plot Ratio : 7 (Dom)
Max. Site Coverage : 39% (Dom)
(for building height over 49m but not exceeding 55m)
(for building height over 49m but not exceeding 55m)
Restrictions under draft Special Conditions
User : Private Residential Purposes
Max. GFA : 10,692m2
Min. GFA : 6,415m2
Max. Building Height : 60m above HKPD
(provided that, with prior written approval, machine rooms,
air-conditioning units, water tanks, stairhoods, similar roof-top structures
and any environmentally friendly or innovative features may be excluded;
and no part within Pink Hatched Black Area shall exceed 2 storeys or 10m
above the ground level)
Min. No. of Flats : 180
Landscaping : Not less than 20% of the area of the lot
Caretakers' Office : ≤ the lesser of (I) 0.2% of total dom GFA; or (II) 5m² for every 50 units or
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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part thereof or 5m² for every residential block, whichever is the greater
Caretakers' Quarters : ≤ 25m²
Owners' Corporation Office : ≤ 20m²
Car Parking & Loading and Unloading Space Requirements:
(i) Private Car Parking
Spaces
: 1 space for every 9.4 residential units with size ≥40m2(G) but
<70m2(G) or part thereof subject to ±5% in addition to ±5%
or 50 in number
(i.e. total 23 spaces including 1 space for the disabled)
(ii) Visitors : 5 spaces for each block with more than 75 units subject to ±
5% or 50 in number, and
1 space for every 25 residential units (excluding the
residential units in any block of more than 75 residential
units) subject to a minimum of 2 spaces
(i.e. total 10 spaces including 1 space for the disabled)
(iii) Motor Cycle Parking
Spaces
: 10% of the total number of spaces required in (i) and (ii)
above subject to ±5% in addition to ±5% or 50 in number
(i.e. total 4 spaces)
(iv) Bicycle Parking
Spaces
: 1 space for every 10 residential units with size <70m2(G)
(i.e. total 20 spaces)
(v) Loading and
Unloading Spaces
: 1 space per 800 residential units subject to a minimum of 1
space per block (i.e. total 2 spaces)
Note: (1) Area as advised by District Survey Office
Assumed Development
2 blocks of 14-storey apartments over G/F entrance lobby and 1/F clubhouse level of
basement carpark with 7 units per floor served by 3 lifts and 2 staircases. A total of 196
residential units with an average size of 54.55 m2 (G)/44.77m2 (N) are provided.
Development Schedule
Floor User
Height
(m) PR
SC
(%)
GFA
(m2)
Non-
Accountable
GFA (m2)
Dom
CP
(m2) SR
Dom
SA
(m2)
B1 23 Domestic CPS (1) 44.84% 920
10 Visitors’ CPS (1)(2) 410
4 Motorcycle PS (1)(2) 40
20 Bicycle PS (1)(2)
3
20
G/F Domestic Entrance Lobby (3) 0.0516 25.81% 160 160
2 L/UL Spaces (1)(2)
5.0
160
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Ramp (1) 200
Plant Room (4) 214
Caretakers’ Office 21
Caretakers’ Quarter 25
Owners’ Corporation Office 20
1/F Recreational Facilities (5) 5.0 17.23% 534
2/F – Domestic (14-storey) 43.4 3.3974 24.27% 10,532 2,100 83.32% 8,775
15/F (3.1m x 14/s) (75m2/floor/block) (inc. UP, bal)
53.4 10,692 8,775
Mean Spot Level 5.9 (Overall Domestic SR : 82.07%)
59.3 mPD
Notes:
(1) Allow 40m² for each Private CPS, 50m² for each Disabled CPS, 10m² for each Motorcycle PS, 1m² for each Bicycle PS,
80m² for each HGV L/UL space,40m² for each Lay-by (80m² for one of which) and 200m² for ramp.
(2) Assumed to be provided at cost.
(3) Allow 80m² for G/F domestic lobby, 75m² for common parts on each typical floor.
(4) Allow 214m² for plant room (about 2% of the total GFA ).
(5) Allow 534m² for recreational facilities (about 5% of the total domestic GFA).
GDV
Domestic 8,089m2 (N) X $113,000/m2 (N) $914,057,000
Green Balcony 392m2 (1) X $113,000/m2 (N) $44,296,000
Utility Platform 294m2 (1) X $113,000/m2 (N) $33,222,000
$991,575,000
Allow 3% marketing cost X 0.97
$961,827,750
Domestic CPS (Basement) 23 nos. X $1,200,000/space $27,600,000
$989,427,750
PV 3.25 years (2) @ 5.00%(3) X 0.8534 $844,377,642
Less Costs
Domestic 10,349m2 (G) X $27,307/m2 (4) $282,600,143
Green Balcony 392m2 (1) X $18,622/m2 (4) $7,299,824
Utility Platform 294m2 (1) X $18,622/m2 (4) $5,474,868
Recreational Facilities 534m2 X $42,525/m2 (4) $22,708,350
Greenery 620m2 X $7,414/m2 (4) $4,596,680
Basement CPS 920m2 X $18,534/m2 (4) $17,051,280
$339,731,145
Allow 6% for professional fee X 1.06
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT ONE)
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Allow 20% for profit on cost X 1.20
$432,138,016
PV 2.0 years (2) @ 5.00%(3) X 0.9070 $391,949,181
452,428,461
Allow 20% for profit on land ÷ 1.20
$377,023,718
Land Value, say $377.03M
Overall AV $35,263/m2
Notes:
(1) Allow2.00m2 for size of green balcony and 1.5m2 for size of utility platform per unit according to JPN No. 1/2001
& JPN No. 2/2001 respectively.
(2) Allow a deferment period of 3.25 years / 2 years, on the assumption that the construction period is 2.5 years and the impact
assessments would take 9 months.
(3) Best Lending Rate offered by the Hong Kong & Shanghai Banking Corporation Limited as at the date of valuation.
(4) Construction costs as advised by professional quantity consultant.
(5) Domestic GFA Concession: Green Balcony (196m2)+ Utility Platform (147m2)+ Clubhouse (534m2) + Caretakers’ Office
(21m2) + Caretakers’ Quarter (25m2) + OC Office (20m2) = 943m2
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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PROJECT TWO
Processing a proposed Land Sale site in Yan Ching Street, Tuen Mun, New
Territories
(APC Area 3 –Sales, Letting and Purchases of Land and Buildings)
1. OBJECTIVE
To process a proposed land sale site for a residential development at Yan Ching
Street, Tuen Mun.
2. BACKGROUND
The subject lot (“the Lot”) is located at Yan Ching Street, Tuen Mun. Location
plan is prepared at Appendix I. Site particulars of the Lot are summarized at
Appendix II.
The Lot is zoned “Residential (Group A)1” (“R(A)1”) on the Approved Tuen
Mun Outline Zoning Plan No. S/TM/31 (“OZP”). The development of “Flat” or
“House” are always permitted within this zone. According to the Notes to the
OZP of R(A)1 zone, commercial uses are always permissible on the lowest 3
floors without planning approval. The development parametres of the Lot
under the OZP are:
For domestic developments:
Maximum plot ratio ("PR") : 5.0
For non-domestic developments:
Maximum PR : 9.5
For composite development:
Maximum domestic PR : 5 x (9.5 - Non domestic PR)
9.5
For site with an area of 400m2 or more:
Maximum building height : 100mPD
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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An extract of the Outline Zoning Plan and Notes to the R(A)1 Zone are prepared
at Appendix III (a) and (b) respectively.
The Lot was scheduled to be included into the Land Sale under the Land Sale
Programme in year 2014/2015 for disposal. As such, the District Lands Office,
Tuen Mun had to prepare the Conditions of Sale and I was assigned to consider
and prepare the draft Conditions of Sale.
3. PERSONAL INVOLVEMENT AND TECHNIQUES APPLIED
3.1 Examination of the Development Controls
Upon receiving the instruction, I first examined the statutory development
controls affecting the Lot, including the OZP and the Building (Planning)
Regulation. I also made reference to non-statutory development controls such
as the Hong Kong Planning Standard and Guidelines (“the HKPSG”), the Layout
Plan and also the internal instructions of the Lands Department. This was to
ensure that the development parameters did comply with the prevailing
development controls.
3.2 Site Inspection
Site inspections were conducted to familiarize myself with the characteristics of
the site and its surrounding environment to ascertain the physical characteristics
and constraints of the subject site.
The Lot abuts Kai Fat Path along its western boundary. There is an elevated
road along its south-eastern boundary. At the north, there are respectively a
planter, a Refuse Collection Point and also an existing vehicular access via Yan
Ching Street. The developments nearby are mainly mid-rise residential blocks.
At the time of inspection, a major portion of the Lot was let out as Short Term
Tenancy ("STT") for the purpose of a public fee paying carpark and the STT ran
on a quarterly basis of which its termination required 3-months advance notice.
3.3 Formulation of Conditions of Sale
To proceed, I was assigned to prepare the draft Conditions of Sale and notes for
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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the consideration of an internal conference. The conditions were drafted with
the objective of balancing departmental requirements and the future purchaser’s
interest.
(a) Development Conditions
When considering the conditions in relation to the development intensity of the
Lot, reference was made to the prevailing statutory and administrative controls. I
therefore recommended the following in the draft Special Conditions :-
User :
Non-industrial purposes, subject to a further
restriction that the remaining floors above the
lowest three floors shall be used for private
residential purpose
Maximum Gross
Floor Area ("GFA")
:
Domestic: 7,044m2
Total: 11,153m2
Maximum Building
Height
:
100 mPD
Further, in order to ensure the Lot would be developed to a reasonable scale
within a reasonable period, a building covenant clause, a minimum number of
units clause and a minimum GFA clause were imposed. The prime objective of
incorporating these development parameters in the Conditions of Sale was to
safeguard the Government’s interest as a contractual party under lease.
(b) Building Set Back
Upon measurement on plan, I noted that the site area was within 7.5m measured
from the centre-line of Kai Fat Path. I hence proposed a building setback area
which is required under the Quality and Sustainable Built Environment ("QBE")
requirements, and restricted the construction of any structure, building or
projections within this area in between the area measured from ground level up to
a height of 15m.
(c) Protection of Highway structures
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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I noted that the site is next to highways structures of the Pui To Road and also the
Tuen Mun Road. Given that the traffic is heavy upon my site visit, I have
considered that there may be impact to the highways structures by the
construction of the development. I hence consulted Highways Department in
the departmental circulation. Upon its feedback, I have included a clause for
protection of highway structures and restricted the construction on the protection
area according to Highways Department's advice.
(d) Air Sensitive area
Due to the close proximity to the adjacent highways structures, I also enquired
the Environmental Protection Department ("EPD") regarding the potential
pollution problem caused by the highway traffic. EPD replied that there would
be concerns about the air quality and hence required a buffer area measured 10m
from the kerb line of Pui To Road. I hence included a Non building area to
provide a 10m buffer zone to prohibit the construction of any buildings and
structures.
(e) Water Works Reserve area
As the site is situated on a highly developed area, I have consulted Water
Services Department ("WSD") on whether there would be any water works
underneath and its impact on the development. WSD indicated that there were
water mains at the south western corner of the site which would be extremely
costly or infeasible to divert. Upon consultation of the WSD, I hence included a
Water Works Reserve clause to designate a reserve area for an unrestricted access
by WSD for its future maintenance and repair works. The clause also prohibits
the construction of any buildings or structures within the area.
(f) Formation of Green Area, Vehicular Access and Restriction
To allow vehicular access the site, a Formation of Green Area clause is imposed
to require the future purchaser to construct a road on the existing access leading
to the previous STT carpark. The existing vehicular access is only restricted to
the entrance for light vehicles due to the headroom limited by the soffit of the
highway above. Upon discussion with Transport Department, it was finally
resolved by restricting the vehicle height to be less than 3.9m during construction
stage and 3.6m during the operation stage. I hence incorporated this extra
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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requirement in the Vehicular Access and Restriction condition.
(g) Other Conditions
Conditions on different aspects such as preservation of trees, carparking
requirements, recreation facilities and landscaping clauses were also imposed.
3.4 Consultation with Relevant Government Departments
I circulated the draft Special Conditions to all relevant departments for comments
to ensure that their specific concerns could be addressed.
3.5 Finalization of the Conditions of Sale
After consolidating all the departmental comments, I proceeded to incorporate
relevant comments and my recommendations into the draft Conditions of Sale
for my supervisor's consideration, which was subsequently submitted to the
District Lands Conference for discussion and approval. A summarised draft
Conditions of Sale and a sale plan are complied at Appendix IV and Appendix
V respectively.
4.
LESSON LEARNT FROM THE PROJECT
Through this task, I gained a deeper understanding in government policies and
procedures in processing a government land sale. The environmental
constraints of this site provided me a good exercise to consider the necessary
issues when drafting a lease document, how these issues can be addressed by
various special conditions, and their implications on the development potential of
the site. Furthermore, I realised that well-drafted conditions can ensure an
efficient utilization and management of the Lot in the future.
By communicating with the professionals from other government departments, I
managed to strike a balance among the interests and concerns of different
stakeholders and to reach a consensus. The communication skills and
problem-solving ability I acquired through resolving conflicting issues among
these parties would be largely beneficial for my future career development.
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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5. APPENDICES
I. Location Plan
II. Site Particulars of the Lot
III. (a) Extract of Approved Tuen Mun OZP No. S/TM/31
(b) Extract of the Notes of “R(A)1” Zone
IV. Extract of Draft Conditions of Sale
V. Sale Plan
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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Appendix I
Location Plan
(NOT TO SCALE – FOR IDENTIFICATION PURPOSES ONLY)
LEGENDS:
Subject site
N
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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Appendix II
Site Particulars of the Lot
(a) Location
: Yan Ching Street, Area 10, Tuen Mun, New Territories
(b) Site Area : 1,174 m2 (about)
(c) Town Plan Zoning : “R(A)1” on approved Tuen Mun Outline Zoning Plan No.
S/TM/31
(Under the Notes of the OZP, any development within “R(A)1” zone
shall be subject to a maximum domestic PR of 5 or a maximum
non-domestic plot ratio of 9.5. For composite development, the
domestic PR shall not exceed the product of the difference between
the maximum non-domestic plot ratio of 9.5 and the actual
non-domestic PR proposed for the building and the maximum
domestic PR of 5 divided by the maximum non-domestic PR of 9.5. A
maximum building height of 100mPD would be permitted for sites
with an area of 400m2 or more.
(d) Environment /
Accessibility
: The site was located at the south east corner of Yan Ching Street
in Tuen Mun and abuts Kai Fat Path on the west. Vehicular
access is available from Yan Ching Street. Its surrounding is a
well developed community with mid rise residential buildings
and ground floor retail shops. Access to Tuen Mun Town
Centre on foot takes about five minutes.
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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Appendix III(a)
Extract of Approved Tuen Mun OZP No. S/TM/31
Subject Lot
N
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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Appendix III(b)
Extract of the Notes of “R(A)1” Zone
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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Appendix III(b)
Extract of the Notes of “R(A)1” Zone
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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Appendix III(b)
Extract of the Notes of “R(A)1” Zone
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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Appendix IV
Extract of Draft Conditions of Sale
(a) Site Area : 1,174 m2 (about)
(b) Term : 50 years from the date of Agreement
(c) Government Rent : An annual rent of 3% of the rateable value from time to time
of the lot
(d) Building Covenant
: 54 months from the date of Agreement
(e) User
: Non-industrial (excluding godown, hotel and petrol filling
station) purposes
(f) Development Conditions
(i)
Total GFA : (i) Total GFA: not less than 4,227m²
(ii) Total GFA for Non-industrial (excluding godown,
hotel, petrol filling station and private residential)
purposes : not exceed 1,174m²
(iii) Maximum GFA of any building(s) or any part(s) of the
building(s) for private residential purposes:
= (11,153 – *Non-industrial GFA)
11,153 x 7,044
*Non-industrial GFA: excluding godown, hotel, petrol filling
station and private residential purposes
(ii)
Number of
Residential Units
: Not less than 125
(iii)
Maximum Height : Not exceed 100m above HKPD
(g) Parking and L/UL Requirements:
(i) Residential Parking
Spaces
[2.5m(w) x 5.0m(l) x
2.4m(h)min]
: Size (GFA) of each
residential unit
No. of Residential Parking
Spaces to be provided
< 40m² 1 space for every 25.9 residential units or part thereof
≧ 40m² but <70m² 1 space for every 14.8 resid ntial units or part thereof
≧ 70m² but <100m² 1 space for every 4.9 residential units or part thereof
≧ 100m² but
<130m²
1 space for every 1.9 residential units or part thereof
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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≧ 130m² but
<160m²
1 space for every 1.4 residential units or part thereof
≧ 160m² 1 space for every 1.1 residential units or part thereof
(ii) Visitors’ Parking
Spaces
[2.5m(w) x 5.0m(l) x
2.4m(h)min]
: (i) 5 spaces for every block of residential units erected or to be erected on the lot which contains more than 75 residential units [as may be varied under SC(27) hereof]; and
(ii) 1 space for every 15 residential units (excluding the
residential units in any block of more than 75 residential units) or part thereof subject to a minimum of 2 spaces [as may be varied under SC(27) hereof]
(iii) Other Parking Spaces
: (i) 1 space for every 150m² or part thereof used for office purposes;
(ii) 1 space for every 200m² or part thereof used for
non-industrial (excluding office, godown, hotel, petrol filling station and private residential) purposes
(iv) Parking Spaces for
Vehicles of the
Disabled
[3.5m(w) x 5.0m(l) x
2.4m(h)(min)]
: Out of the spaces provided in (g)(i) above, minimum of 1
space shall be reserved
(v) Motorcycle Parking
Spaces
[1.0m(w) x 2.4m(l) x
2.4m(h)(min)]
: 1 space for every 100 residential units or part thereof, 10% of
the total number of space in (g)(iii) above;
(vi) Bicycle Parking Spaces
1 space for every 15 residential units or part thereof with the
size of each residential unit being less than 70m² GFA
(vii) Loading and Unloading
Requirements
[3.5m(w) x 11.0m(l) x
4.7m(h)(min)]
: (i) 1 space for every block of residential units; (ii) 1 space for every 2,000m² used for office purposes;
and (iii) 1 space for every 800m ² used for non-industrial
(excluding office, godown, hotel, petrol filling station and private residential) purposes
(viii) Flexibility in Parking
Provisions
: The number of spaces provided under (g)(i) above may be
increased or reduced by not more than 5% or 50 in number,
whichever is the less. In addition, the number of spaces
provided under (g)(i) and (g)(iv) above may be increased or
reduced by not more than 5%.
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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(h) Formation of Green
Area
: The Grantee shall within 54 months from the date of the
Agreement and at his own expense lay and form those
portions of future public roads shown coloured green on the
plan at Appendix V.
(i) Air Sensitive Areas
: no building, structure, support for any building(s) or
structure(s) to be constructed on the areas coloured Pink
Hatched Black, Pink Cross-hatched Black and Pink Stippled
Red as shown at Appendix V except:
(i) Boundary walls or fences or both; and
(ii) Landscaping works
(j) Building Set Back
: No building, structure, support for any building(s) or any
structure(s) or projection shall be erected within the
coloured Pink Stippled Black area (as shown at Appendix V)
within the air space extending upwards from the ground
level(s) to a height of 15m.
(k) Vehicular Access
: Between the points X and Y through Z or at such other points
as may be approved by the Director
Upon development or redevelopment of the lot, a temporary
access for construction vehicles not exceeding a height of
3.9m into the lot may be permitted in such position and
subject to such conditions as may be imposed by the
Director. Except the above, throughout the term
granted, no motor vehicle with a height exceeding 3.6m
shall be allowed to enter into the lot.
(l) Waterworks Reserve
Area
: no building, structure, or support for any building(s) or
structure(s) shall be erected under that portion of the lot
shown coloured Pink Cross-hatched Black on the plan at
Appendix V. Tree planting and site formation works shall be
prohibited within the Waterworks Reserve Area.
(m) Protection of the
Highways Structures
Purchaser shall maintain a minimum vertical clearance of 4m
below the soffit of the Highways Structures and a minimum
horizontal clearance of 2m from the structures or columns or
foundations of the Highways Structures.
(n) Other Conditions :
(i) Preservation of Trees Clause
(ii) Design and Disposition Clause
(iii) Restriction on Alienation before Compliance Clause
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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(iv) Restriction on Partitioning Clause
(v) No exempt building Clause
(vi) Deposit of Car Park Layout Plan Clause
(vii) Diversion of the Existing Drains Clause
(viii) Waterworks Reserve Area Clause
(ix) Noise Impact Assessment Clause
(x) Restriction on merging of residential units Clause
(xi) Definition of Gross Floor Area & Site Coverage Clause
(xii) Cap on Concession Clause
APC FINAL SUBMISSION PROJECTS UNDERTAKEN (PROJECT TWO)
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Appendix V
Site Plan
(NOT TO SCALE – FOR IDENTIFICATION PURPOSES ONLY)
LEGENDS:
N
APC FINAL SUBMISSION PRE-QUALIFICATION STRUCTURED LEARNING
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PART IV PRE-QUALIFICATION STRUCTURED
LEARNING
In addition to the work experience gained in the Lands Department, I attended a number
of training events and courses regarding various aspects of General Practice Surveying
organised by the Hong Kong Institute of Surveyors or the Lands Department in the past two
years. The pre-qualification structured learning (“PQSL”) that I have undertaken are
listed below:
Date Training Event Organiser Hours Cumulative
hours
27.9.2012 Induction Course by Various Speakers LandsD 8 8
28.9.2012 Induction Course by Various Speakers LandsD 8 16
13.12.2012 Judicial Review & Town Planning
Board Decisions HKIS 1.5 17.5
11.1.2013 Experience Sharing on APC
Examination LandsD 2 19.5
26.2.2013 Introduction of the HKIS Valuation
Standards 2012 HKIS 1.5 21
28.2.2013 Talk on Land Boundary LandsD 2.5 23.5
17.5.2013
GPD APC Part I – Structured Learning
Programme 2013
“Laws and Surveying – General practice
surveying Law”
HKIS 3 26.5
18.5.2013
GPD APC Part I – Structured Learning
Programme 2013
“ Laws and Surveying – General
practice surveying Law”
HKIS 3 29.5
18.5.2013
GPD APC Part I – Structured Learning
Programme 2013
“Laws and Surveying – Land
Acquisition & Compensation”
HKIS 3 32.5
31.5.2013
Video Session on RDW “Land
(Compulsory Sale for Redevelopment)
Ordinance Cap. 545 – The Latest
Lands D 2.5 35
APC FINAL SUBMISSION PRE-QUALIFICATION STRUCTURED LEARNING
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Practice
1.6.2013
GPD APC Part I – Structured
Learning Programme 2013
“Agency Practice and Asset
Management and Property
Development and Management –
Planning and Development”
HKIS 3 38
1.6.2013
GPD APC Part I – Structured
Learning Programme 2013
“Agency Practice and Asset
Management and Property
Development and Management –
Transaction by private treaty , Sale and
letting, Auction & tender”
HKIS 3 41
2.6.2013
GPD APC Part I – Structured
Learning Programme 2013
“Agency Practice and Asset
Management and Property
Development and Management – Asset
Management”
HKIS 3 44
2.6.2013
GPD APC Part I – Structured
Learning Programme 2013
“Agency Practice and Asset
Management and Property
Development and Management –
Property Management”
HKIS 3 47
21.6.2013 Experience Sharing on Court Case at
Nam Kok Road Lands D 2 49
25.6.2013 Experience Sharing on Use of 1963
Digital Orthophoto in Lands D Lands D 3.25 52.25
13.7.2013
GPD APC Part I – Structured
Learning Programme 2013
“Urban Land Economics and
Analysis – Urban land economics”
HKIS 3 55.25
13.7.2013 GPD APC Part I – Structured
Learning Programme 2013 HKIS 3 58.25
APC FINAL SUBMISSION PRE-QUALIFICATION STRUCTURED LEARNING
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“Urban Land Economics and
Analysis – Urban land economics”
20.7.2013
GPD APC Part I – Structured
Learning Programme 2013
“Valuation – General Valuation
Principles”
HKIS 3 61.25
20.7.2013
GPD APC Part I – Structured
Learning Programme 2013
“Urban Land Economics and
Analysis – Urban land economics”
HKIS 3 64.25
26.7.2013 Video Session on “Hypothetical
Development” Lands D 2 66.25
1.8.2013 The CFA Decision on the Meaning of
“House” – The final chapter? HKIS 1.5 67.75
9.8.2013
Video Session on “Talk on
Application of Building (Planning)
Regulations”
Lands D 2 69.75
10.8.2013
GPD APC Part I – Structured
Learning Programme 2013
“Urban Land Economics and
Analysis – Urban land economics”
HKIS 3 72.75
10.8.2013
GPD APC Part I – Structured Learning
Programme 2013
“Valuation –General Valuation
Principle”
HKIS 3 75.75
17.8.2013
GPD APC Part I – Structured Learning
Programme 2013
“Valuation – Statutory Valuation –
Rating”
HKIS 3 78.75
17.8.2013
GPD APC Part I – Structured Learning
Programme 2013
“Valuation – General Valuation
Principle” various parameters affecting
the development which ranged from town
planning, building regulations as well as
latest policies.
HKIS 3 81.75
APC FINAL SUBMISSION PRE-QUALIFICATION STRUCTURED LEARNING
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21.8.2013
Video Session on “New and revised
PNAPs/JPNs regarding Building Design
to Foster a Quality and Sustainable
Built Environment”
Lands D 1 82.75
21.8.2013 Talk on “Valuation” LandsD 2 84.75
31.8.2013 Revision class: Agency Practice/Asset
Management HKIS 3 87.75
2.9.2013 Revision class: Valuation HKIS 3 90.75
14.9.2013 Revision class: Law HKIS 3 93.75
23.9.2013 Revision class: Planning &
Development and Resumption HKIS 3 96.75
1.11.2013
Effectiveness of the series of
anti-speculation measures on the
property market
HKIS 1.5 98.25
9.11.2013 GPD APC Programme for 2013 Part II
Assessment (Critical Analysis) HKIS 3
101.25
18.12.2013
Interpreting the latest guidance letter
issued by the Hong Kong Exchanges
and Clearing Limited on property
valuation and market reports
HKIS 1.5
102.75
7.2.2014 Experience Sharing on APC LandsD 2 104.75
11.4.2014 Valuation for Compensation involving
G.N. Lots and Old Scheduled Lots LandsD 2
106.75
3.5.2014 General Valuation Principle (Session
1) - PQSL HKIS 3
109.75
24.5.2014 General Valuation Principle (Session
2) - PQSL
HKIS 3
112.75
29.5.2014 An Introduction to Business Valuation LandsD 2.5 115.25
31.5.2014 General Valuation Principle (Session
3) - PQSL
HKIS 3
118.25
18.6.2014 Talk on Valuation LandsD 2.5 120.75
25.6.2014 Talk on BPR by Mr. KW Chung of BD LandsD 2.5 123.25
16.8.2014 Statutory Valuation – Rating - PQSL HKIS 3 126.25
23.8.2014 Business Valuation - PQSL HKIS 2.5 128.75
Cumulative Hours for Interim Submission 101.25
APC FINAL SUBMISSION PRE-QUALIFICATION STRUCTURED LEARNING
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Cumulative Hours for Final Submission 27.5
Total Hours for the Training Period 128.75
Notes:
(LandsD) – Seminar/course conducted by Lands Department
(HKIS) – Seminar/course conducted by the Hong Kong Institute of Surveyors
1. VALUATION
I attended various seminars about property valuation during my 2-year training. They
included "Video Session on “Hypothetical Development”, "General Valuation Principle"
and an in-house "Talk on Valuation". I have become more familiar with the valuation
techniques through the seminars, such as reduced zoning method, investment approach and
income approach. These techniques are essential to build up my knowledge in valuation and
are very useful in my workplace.
2. PLANNING AND DEVELOPMENT
I also attended seminars concerning the main development controls in Hong Kong.
"Judicial Review & Town Planning Board Decisions", "Talk on Land Boundary" and
Video Session on "New and revised PNAPs/JPNs regarding Building Design to Foster a
Quality and Sustainable Built Environment" covered various parameters affecting the
development from perspectives of town planning, building regulations as well as latest
policies.
3. RESUMPTION
The seminars I attended during the training period also have a coverage of land
resumption. Seminars such as "Laws and Surveying – Land Acquisition &
Compensation", Video Session on "Land (Compulsory Sale for Redevelopment)
Ordinance Cap. 545 – The Latest Practice" and the revision class on "Planning &
Development and Resumption" explained the concept of resumption by comparing various
ordinances and interpreting court cases decisions.
4. OTHERS
Apart from these topics, there were also sessions regarding estate management, business
valuation, economics and policy related seminars.
APC FINAL SUBMISSION CONCLUSION
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PART V CONCLUSION
During the two-year training in the Lands Department, I was posted to various sections of
the Department and equipped me with an extensive knowledge in different aspects in
General Practice Surveying.
My time in the Railway Development Section enabled me to handle land resumption cases
and know better about the procedures of resumption projects related to the railway
development.
I have gained a wide exposure in land administration and estates management matters
such as lease modification, land exchanges and short term tenancy and waivers during my
time working in the District Lands Office/Tuen Mun.
In the Valuation Section, I have deepened my understanding of different valuation
approaches and practices through processing various land value assessments. I became
more familiarised with the real estate market sentiment through the tasks I have processed.
Essential skills in analysing the comparables, ascertaining development potential and
formulating hypothetical developments are developed.
Having equipped myself with the professional skills and techniques during the two-year
training period, I am confident that I will be able to work professionally and independently
as a competent professional General Practice Surveyor in the future.
Prepared by
_____________________
TSUN Sheung Ming
HKIS Probationer
HKIS Membership No. 86661
1 November 2014
APC FINAL SUBMISSION CONCLUSION
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PART VI CERTIFICATION
I hereby certify that this report is an unaided work of Mister TSUN Sheung Ming and is a
true and faithful reflection of his training and experience in the Lands Department for the
period from 17 September 2012 to 16 September 2014.
______________________________
(Supervisor)
Mr. Stephen WONG King Sum
MHKIS
Estate Surveyor,
Valuation Section,
Lands Department
HKIS Membership No.: GP 4784
______________________________
(Supervisor)
Mr. Terrence LIANG Zi Hua
MHKIS
Estate Surveyor,
District Lands Office / Tuen Mun,
Lands Department
HKIS Membership No.: GP 2169
______________________________
(Supervisor)
Ms. Shirley HON Tsui San
MHKIS
Estate Surveyor,
Railway Development Section / Urban Office,
Lands Department
HKIS Membership No.: GP 2056
______________________________
(Counsellor)
Mr. Jimmy WONG Leung Yau
MHKIS
Senior Estate Surveyor,
Training Section,
Lands Department
HKIS Membership No.: GP 2193
______________________________
(Counsellor)
Ms. Daisy WONG Wai Ching
MHKIS
Senior Estate Surveyor,
District Lands Office/Island,
Lands Department
HKIS Membership No.: GP 1736