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Large North Point site withdrawn

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A LARGE industrial site at North Point has been withdrawn from sale after the owners rejected tenders from an undisclosed number of developers.

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The 30,000-square-foot industrial site on King Wah Road is zoned for comprehensive development and was offered for sale by private tender, which closed on March 21.

'We have received several bids from different consortiums. However, their offers were below our expectations, ' said a spokesman for the joint owners, Asia Provisions Co and Asia Cold Storage Co.

The spokesman said the owners failed to reach an agreement with any of the interested parties after discussion extending over about two weeks.

'We finally decided to withdraw it,' he said.

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The site was likely to be re-offered for sale when investment sentiment for the territory's real estate market had improved.

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