The tender for a private residential site on Hospital Road has been awarded on a 50-year land grant at a premium of $551 million, the Lands Department announced today.

Inland Lot No. 8872 at Hospital Road was awarded to Bestford Group, a subsidiary of K. Wah International.

It has a site area of about 499.1 sq m and is designated for private residential purposes.

The site's minimum and maximum gross floor areas are 2,396 sq m and 3,992.8 sq m.