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Government offices may leave Wan Chai

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The government may free up prime sites for office buildings in Wan Chai by moving some of its own offices to Kowloon and the New Territories.

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Financial Secretary John Tsang Chun-wah said the government would study the feasibility of rebuilding Immigration Tower, Wan Chai Tower and Revenue Tower at Kai Tak and in Tseung Kwan O.

If the plan goes ahead, developers could be expected to pay HK$20 billion for the land freed up in Gloucester Road, a surveyor said.

The move would not be possible before 2011, when infrastructure work at Kai Tak ends.

However, Mr Tsang said the government would not resume holding regular land auctions, as some developers have demanded, but would stick with the application list system under which developers must lodge bids for sites to trigger their sale.

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He said holding regular auctions could distort the market.

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