The tender for a site in Kai Tak has been awarded on a 50-year land grant at a premium of $8.33 billion, the Lands Department announced today.

New Kowloon Inland Lot No. 6574 at Kai Tak Area 4B Site 3 was awarded to a syndicate formed by companies including Wheelock Properties, New World Development and Henderson Land Development.

It has a site area of about 9,706 sq m and is designated for private residential purposes.

The minimum and maximum gross floor areas are 32,030 sq m and 53,383 sq m.