Fanling Sheung Shui Town Lot No.177 at Area 19, Sha Tau Kok Road, Fanling, has been successfully triggered for sale under the application list system.

The auction, the second this financial year, will be held at Queen Elizabeth Stadium on May 24, the Lands Department said today.

The Government accepted the applicant's minimum guaranteed bid of $1.0538 billion for the lot. This will be the opening bid at the auction subject to the lot's reserve price.

The site has an area of 8,900 square metres and is designated for non-industrial purposes, excluding office, godown, hotel and petrol station. A minimum gross floor area of 34,290 square metres must be completed.

The final conditions of sale will be available for distribution and uploaded here by May 7, when the particulars of the auction will be gazetted.