A Government lot in Lantau sold for $30.5 million at the Lands Department's first land auction of the financial year - more than double its opening bid of $14.4675 million.

The lot, Lot No. 246 in Demarcation District No. 331, is located at Cheung Fu Street in Cheung Sha with an area of about 2,240 square metres.

This was the first land auction following the announcement of the new Application List in March.

Gold Bright Investment Limited was the winning bidder.The site is designated for private residential purposes and the developer must complete a minimum gross floor area of 538 square metres by September 30, 2010.