AMOY Properties may see a lacklustre response to the sale of its industrial property Star Centre in Kwai Chung at a public tender which closes at noon today. With the current negative market sentiment, analysts expect potential buyers would only submit 'conservative' offers which may not satisfy Amoy. The property might have to be withdrawn if Amoy was not satisfied with the offer price, analysts said. Earlier, analysts had predicted that the 26-storey building, with a gross floor area of about 310,000 sq ft, could sell at about $340 million, representing an accommodation value of about $1,100 per square foot. Amoy bought the property, located at 443-451 Castle Peak Road, for $274 million in May 1992. Albert Lee, sales director of Ricacorp Properties, said the sluggish market sentiment could have a negative effect on the sale, adding that average prices of industrial premises in the area were about $1,000 a square foot. He said the 10-year-old building would be sold subject to tenancy, which might make potential buyers more cautious to submit offers. Joseph Lui, sales supervisor at Midland Realty's western Kowloon industrial division, expected buyers would probably offer about $1,000 a square foot. It was possible that buyers who were interested in acquiring the building might want to put the property on strata-title sales, he said. Analysts said the plot ratio of Star Centre was virtually fully utilised and there was no redevelopment potential for the property.