STRONG bidding is expected for the public auction of a low-density residential site on The Peak next Monday, which may fetch up to $100 million. The 20,840 square foot site located at 26 Mount Kellett Road has a potential floor area of 13,380 sq ft. Analysts said the scarcity and rarity of vacant land on The Peak made the government lot especially attractive, and the selling price could be higher than expected. It would be the only Crown land on The Peak put up for auction in several years, and was bound to be the most valuable land for sale this financial year in terms of average value, they said. The other lot up for auction is a 6,157 sq ft site in Wo Tik Street, Tsuen Wan, which can be turned into a single-block commercial-residential property. Analysts predicted a selling price of $72 million to $92 million for the second lot. William Wong, a partner with Brooke Hillier Parker, put a price tag of $98 million on The Peak site, representing an average value of $7,324 per sq ft, but added that strong bidding might push the price higher. He expected the Tsuen Wan site to draw interest from smaller developers and to fetch $72 million. Ambrose Liu, associate director of AG Wilkinson and Associates, said the lump sum amount for the sites was relatively small, which would attract more developers to join in the bidding. He predicted a price of $78 million for The Peak site and $86 million for the Tsuen Wan site. Businessmen and tycoons might be interested in buying The Peak site for own use, he said. Commanding views to the island's south, The Peak site can be turned into a six-storey residential block. The Tsuen Wan site can provide about 39,500 sq ft of floor space, including residential units on top of a two to three-level retail podium. Kenneth Cheung, director of Ricacorp Surveyors, forecast a price of about $100 million for The Peak site. The tiny site in Tsuen Wan would also receive keen bidding interest and could fetch $90 million, he said. Analysts said the auction results would not be representative for the overall residential market.