Commercial and Industrial Buildings - Fees and Expenses

• No fee needs to be paid to URFS for submission of the Application Form.
• On behalf of the owners, URFS will engage related consultants (including but not limited to solicitor, valuation and property agency consultant) to provide services to the owners in the process of reaching a joint sale. The owners shall pay their respective shares of the consultancy fees and related expenses ("Consultancy Expenses") upon signing of the Facilitation Agreements. The amount attributable to the owners will be:
  • HK$3,000 per unit (payable by the owner of each unit) or
  • HK$100,000 per building (to be shared among the owners based on the number of undivided shares they own in the building), whichever is higher.
  URFS will undertake to make up any shortfall due from yet-to-commit owners and the contribution made by URFS will be recovered from those owners participating at a later stage. In the event that the total amount of the owners' payments received is less than the actual amount of Consultancy Expenses, URFS will make up the shortfall.
• If a Facilitation Project fails after the signing of the Facilitation Agreements for whatever reasons, URFS and those owners who have signed the Facilitation Agreements will recover their share of the balance of their payments and contributions respectively which have not been expended, if any.
• Owners who decide to withdraw from the Scheme on their own accord at any time will not be eligible for a refund of any payment.
• Upon successful joint sale of property interests by auction or tender, a service fee of 1% of the sale proceeds derived from the joint sale will be charged by URFS from Participating Owners. At the same time, the payments under Para. 2 above will be refunded by URFS from the 1% service fee received. URFS will also charge the purchaser 1% of the sale price as service fee.