What about the Sale and Sublease where only part of the development is constructed by the Lessee?

In the case where the Lessee has obtained the approval of the Lessor for its proposal for the subdivision of the Land into subdivided plots, the Lessee may sell sublease or otherwise dispose of the subdivided plots of the Land that is not to be sold or subleased (“Retained Subdivided Plots”) together with the part(s) of the Development to be constructed and completed thereon by the Lessee in whole or in part provided that:

  • Such sale sublease or disposition shall not be for any part of the Retained Subdivided Plots in its vacant or undeveloped state;
  • Such sale sublease or disposition shall not be entered into until after Building Plan Approval is issued by the Authorities for the part (s) of the Development to be constructed on the Retained Subdivided Plots;
  • Such sale sublease or disposition [apart from any sublease that is not regarded as a disposal of any part of the Land and the Development under section 4 of the Planning Act (Cap 232)] shall not be for the whole and all of the Retained Subdivided Plots and the part(s) of the Development to be constructed thereon to one and/or the same purchaser sublessee or party prior to the issue of Temporary Occupation Permit or Permits by the Authorities for such part(s) of the Development; and
  • The Lessee shall inform the Lessor in writing in the event of any sale, sublease or disposition of the Land and the Development or any part thereof not later than seven (7) days of entering into the contract with the purchaser sublessee or party accepting the disposition and shall furnish such information required by the Lessor.







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