Redevelopment
In May 1994, there was criticism when it was revealed that the government entered into discussions with Li Ka-shing's Cheung Kong Holdings for the private sale of the site, along with the adjacent 33,700 sq ft (3,130 m2) Government car park site. Talks had commenced in May 1993, and were finalised in August 1995 In April 1995, Executive Council has approved the sale of the site, for a sum estimated to be in excess of HK$5.5 billion.
In September 1995, the Planning authorities passed the redevelopment proposals for the 9,900 m² combined site. With a plot ratio of 15, 1,600,000 sq ft (150,000 m2) building (including car park) would be built. The developer, Li Ka-shing's Cheung Kong Holdings, agreed with the planners that most of the building would actually go on the Hilton site; much of the car park and Beaconsfield House area would be given over to park and public amenities.
Read more about this topic: Beaconsfield House