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The Lands Department yesterday announced that four hotel development sites are now available from the land application list, making them eligible for auction.
The sites, in Kwun Tong, Kowloon Bay and Tin Shui Wai, are believed to be worth a combined HK$6.04 billion.
The Kwun Tong plot, at the junction of Shun Yip Street and Wai Yip Street, is the most valuable as it is  on the waterfront and has the largest development scale.
Alnwick Chan Chi-hing, executive director at Knight Frank,  said the site might be valued at up to HK$2.74 billion or HK$3,000 per square foot.
The 76,241 square foot plot, next to Kowloon Bay Factory Estate, could be developed into a hotel with a total gross floor area of 914,897 sq ft. The government has imposed a building height restriction of 100 metres on it.
Mr Chan  said the hotel could provide 1,830 rooms if the average room size was about 500 sq ft.
However, he believed it would not attract too many developers  as the management and investment costs of a large hotel were high.
A  71,042 sq ft site at the junction of Wang Kwong Road and Kai Cheung Road, next to the Auxiliary Police Headquarters in Kowloon Bay, is also on the land application list.
It is valued at about HK$2.13 billion or HK$2,500 per square foot. It could be developed into a hotel with a gross floor area of 852,509 sq ft and provide  1,705 rooms.
Another site in Kowloon Bay, next to  International Plaza, could accommodate a hotel with a gross floor area of 333,124 sq ft and  provide  666 rooms. The 27,760 sq ft plot was worth about HK$833 million or HK$2,500 per square foot, Mr Chan said.
The  site in Tin Shui Wai, near Vianni Cove housing estate, could provide a gross floor area of 279,864 sq ft  with 560 rooms.
The site  is worth HK$336 million or only HK$1,200 per square foot, but Mr Chan expected developers would not be interested as it is far from central   areas.



Four hotel sites valued at HK$6b  on land application list