Buildings lie empty as owners refuse to sellBuildings in prime areas lie empty as owners refuse to sell

A handful of buildings are lying empty in some of the city's most prime locations. They are vacant not because they're difficult to sell - far from it. The buildings' owners simply don't want to sell.

Caine Terrace, a luxury residential complex on Kennedy Road in Mid-Levels, is one such property. It's been vacant for about 20 years, according to Ricky Cheung Wai-kei, Ricacorp's Wan Chai manager.

A company called Colworth bought the property in 1993 for HK$240 million, according to a Land Registry search. Cheung said he contacted the company three weeks ago but was unable to persuade the firm to sell. 'Their reply was that they don't have any plans to sell at the moment,' Cheung said.

Ken Lam, who lives at Merry Garden on Kennedy Road near the empty complex, is keen to see it come to life again. 'It would be even better if it was redeveloped; that would lift the price of my home,' Lam said. 'Caine Terrace is a very nice location. Sometimes I walk past, the gate is always open.'

Also eerily quiet is a nine-storey building at No 22 Leighton Road, in the heart of bustling Causeway Bay.

Mona Kwok, an agent with Ricacorp, has had the building in her sights for years. She said a company called Laypark has owned the property - which has been vacant for more than seven years - since 1987.