bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

urlAlias

moreOnThisArticles

sponsorType

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Elaine Chan

THREE of Hong Kong's leading surveying companies - C Y Leung & Co, Chung Sen Surveyors and Jones Lang Wootton (JLW) - have won contracts to value historic buildings along Shanghai's famous Bund.

  Once market values have been set on the famous state-owned buildings, the Shanghai authorities will then decide whether to sell them off or lease them out.

  C Y Leung has been awarded two contracts - one of which will be signed this week while the other was entered into last Thursday with the Shanghai government's Shanghai Bund Buildings Function Transformation Corp.

  A company spokesman said the firm would shortly be awarded the second contract, quashing rumours it was banned from further work after supposedly falling out with Shanghai government officials.

  Last week's contract is the first valuation contract for the company involving Bund buildings.

  It would involve the valuation of the four-storey building at No 6 Zhongshan Road (E).

  The building, formerly the Great Britain Bank building, is occupied by a local shipping company.

  According to the assistant general manager at the company's Shanghai office, Solo Cheung, the company would jointly value the building with the Shanghai branch of the Jian Yin Real Estate Consulting Co, the valuation arm of the mainland's Bank of Construction.

  Mr Cheung said the valuation would be completed by the end of next month.

  'We will look at the capital and rental values of the building,' he said.

  Mr Cheung said the site area for the building was 14,725 sq ft and the building has a gross floor area of 48,922 sq ft.

  It was reported last month that Hong Kong Huaguang Shipping Agency Co has signed a letter of intent to buy the building.

  However, the company would not disclose details of the second contract to be signed this week.

  C Y Leung's managing director Leung Chun-ying said last Friday he would be in Shanghai to sign the contract with Shanghai government officials.

  When asked if his company had fallen out with the Shanghai officials, Mr Leung said the rumour was unfounded.

  He stressed the awarding of the two contracts would dispel such suggestions.

  Chung Sen was awarded a contract to carry out a valuation on the 70 to 80-year-old Bank of China Building.

  According to one company official, this is the first time Western-style valuation procedures have been used to establish either the capital or rental value of property in China.

  JLW will carry out a valuation of the former North China Herald Building at 17 Zhongshan Road (E).

  Now occupied by the Shanghai government, the 10-storey building on a 11,223 sq ft site has a gross floor area of 102,166 sq ft.

  A total of 18 historic buildings along the Bund are up for valuation, according to surveyors.

  The Shanghai government put 18 buildings along the Bund up for sale last month.



Surveyors win Bund job