Redevelopment
The Government announced, on 23 May 2003, that Flying Snow Limited, a subsidiary of Cheung Kong Holdings, had won the 50-year land grant at a tendered price of $352.8 million from six proposals for the tender. The approval allowed the developer to preserve and redevelop the historical building into a heritage tourism facility. Flying Snow has transformed the building into a heritage hotel with food and beverage outlets, and retail facilities.
The project was the first attempt by the Tourism Commission to engage the private sector to preserve antiquities by revamping them into a tourist attraction. The project opened as 1881 Heritage in 2009.
Read more about this topic: Former Marine Police Headquarters