The tender for a Tai Po residential site has been awarded on a 50-year land grant at a premium of $6.309 billion, the Lands Department announced today.

Located at the junction of Yau King Lane and Pok Yin Road in Pak Shek Kok, the Tai Po Town Lot No. 244 was awarded to Channel First, a subsidiary of Sun Hung Kai Properties.

It has a site area of 32,900 sq m, with minimum and maximum gross floor areas of 52,920 sq m and 88,200 sq m.

The developer has to build a residential care home for the elderly as government accommodation within the said gross floor areas.