Owners face eviction as law on forced sales bites

A year after the government made it easier for developers to force the sale of old buildings, about 10 middle-class residents in Mid-Levels face leaving homes they want to keep.

Owners of Arts Mansion at 31 Conduit Road will know today whether any developer is interested in buying out the 50-year-old building, which the majority owners have offered for tender.

Flats in the building, whose neighbours include such luxury properties as Henderson Land's 39 Conduit Road, have been valued at up to HK$13 million if bought for redevelopment. But while the majority of owners will probably be happy with a good price, the remainder, including a woman in her 90s, say they are facing a nightmare.

'I have this new baby with my wife. I want stability more than anything else. I can't imagine spending months looking for another flat and then months again for renovation,' said a university researcher who moved in two years ago and spent HK$1 million on refurbishment.

Since the law enabling a developer to force the sale of the remaining flats in a building older than 50 years if it has 80 per cent ownership - formerly 90 per cent - took effect last April, there has been a surge in compulsory sale applications. A quarter of the 32 cases put to the Lands Tribunal make use of the lowered threshold.

When the invitation to buy Arts Mansion was launched in January, it was backed by 80 per cent of owners but the number quickly grew to 90 per cent.