Two residential sites in Sha Tin have been triggered for sale under the Application List System, and an auction is slated for May 25 in the afternoon at the Cultural Centre.

Assistant Director of Lands Chris Mills said the Government land auction will be the first since September 10, 2002. Both sites are designated for private residential purposes.

Mr Mills said the Government has accepted the applicants' minimum guaranteed bids of $1.206 billion for Sha Tin Town Lot No. 487, at Site 15, Area 77 in Ma On Shan, and $469 million for Sha Tin Town Lot No. 510 at Tung Lo Wan Hill Road in Sha Tin. These will be the starting prices for the sale of the lots at the auction.

Sha Tin Town Lot No. 487 has a site area of about 14,006 square metres and the minimum gross floor area to be completed is 42,018 square metres.

Sha Tin Town Lot No. 510 has a site area of 10,626 square metres and a minimum gross floor area of 14,536 square metres is required to be completed.

The conditions of sale for both lots will be available for distribution by April 30, when the particulars of the land auction will also be gazetted.