The owner of Regal Court, Perfect Perform Industrial Limited (PPIL), has applied for planning permission (Application no. A/H5/389) to demolish the 22-storey residential building and develop a 26-storey modern office building in its place. The building’s location at 12-18 Wing Fung Street is in the heart of Swire’s Star Street district. According to the meeting of the Metro Planning Committee of the Town Planning Board, their decision has been deferred while they wait for further information from the Applicant.

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For the super wealthy in Hong Kong a new luxury home option is taking shape at “Longview”, No. 45 Tai Tam Road. The 3,009 sqm site and existing dwelling was purchased on 18th December, 2009 for HK$480 million by Tania Development Limited, a Joint Venture between National Electronics Holdings Limited (NEHL) (0213.HK) and J.P. Morgan Asset Management (JPMAM). Their stated plan is to redevelop the site and build two residential houses.

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A planning proposal to convert an industrial building to a hotel has been deferred for a second time, at the request of the applicant. Power Concept Properties Limited applied for planning permission for an in-situ Hotel conversion of Perfectech Centre, an industrial building in Aberdeen/Wong Chuk Hang (Application no. A/H15/237).

According to the Application documents, the proposed hotel will be 25 storeys high and have no more than 98 guest rooms. Facilities promised include amongst others a swimming pool, restaurant and outdoor landscaped area.

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Swire Properties purchased Tai Sang Commercial Building for HKD$1.36bn in November of 2007 and given the proximity to Pacific Place 3 theres a chance this latest acquisition may be the future Pacific Place 4.

The building was previously owned by the mid-size Hong Kong bank, Tai Sang Bank. It is in fairly poor condition right now and as of late 2008 many office tenants have vacated the building. One might speculate that Swire did not seriously attempt to retain these tenants and may have some plans brewing for a new use for the building (or at least a substantial re-furbishment, otherwise known as “Mutton dressed as Lamb”).

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