The government's second land auction for this fiscal year will feature just one site - and it is even smaller than the 24,000 square foot plot that went on the block last time. The 22,300 sq ft residential lot in Tsing Lung Tau in Tsuen Wan could fetch HK$40 million or HK$4,500 per square foot when it goes on sale on September 12. It can be developed into low-rise housing totalling about 8,800 sq ft based on a plot ratio of 0.4 times, property consultants say. The land would go for at least HK$30 million, as the government had accepted a minimum guaranteed bid of HK$30 million from an unidenitified applicant, a Lands Department spokesman said. The site was likely to draw bids from both developers and would-be home builders due to its seaview, said Victor Lai, managing director of Centaline. 'It can be developed (with) a number of houses and selling prices could be far higher than the market level.' Flats in the area sell for HK$3,000 to HK$4,000 per square foot. The site should attract higher bids than a 24,111 sq ft site in Cheung Sha in Lantau that sold for HK$30.5 million.