SUNBEAM INVESTMENTS LTD v. PEEPELS, STEPHEN

SUNBEAM INVESTMENTS LTD v. PEEPELS, STEPHEN

The Tribunal preferred the respondent expert's interpolation method for time adjustments, accepted a limited upward orientation adjustment and a 5% downward adjustment for condition, accepted standard floor-level adjustments (0.75% per floor), rejected an allowance for neighbouring unit renovation noise, averaged the two best adjusted comparables to derive a net monthly rent of $69,789 and added agreed outgoings of $11,500 to determine the prevailing inclusive market rent at $81,300 per month from 1 September 2005.

Citation
SUNBEAM INVESTMENTS LTD v. PEEPELS, STEPHEN
Parties
Applicant (landlord): Sunbeam Investments Limited; 1st Respondent: Peepels, Stephen
Court
Lands Tribunal
Jurisdiction
Hong Kong
Judgment Date
8 November 2006
Case Number
LDPD3137/2005
Procedural Posture
Landlord and Tenant Possession and Mesne Profits / Hearing and Decision
Outcome
Prevailing market rent determined and orders made
Legal Topics
Mesne Profits, Possession, Market Rent Assessment, Transitional Termination Notice, Comparables Adjustment
Source Language
EN
Landlord and Tenant Property Valuation Civil Procedure Tribunal Practice Mesne Profits Possession Market Rent Assessment Transitional Termination Notice +1 more

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Parties

Sunbeam Investments Limited

Applicant (landlord)

Peepels, Stephen

1st Respondent

Procedural Posture

Landlord and Tenant Possession and Mesne Profits / Hearing and Decision

Legal Issues

  1. 1 determination of the prevailing market rent for mesne profits from 1 September 2005
  2. 2 appropriate adjustments to comparable lettings (time, orientation, condition, floor level, quiet enjoyment)
  3. 3 entitlement to vacant possession following termination notice

Ratio Decidendi

The Tribunal preferred the respondent expert's interpolation method for time adjustments, accepted a limited upward orientation adjustment and a 5% downward adjustment for condition, accepted standard floor-level adjustments (0.75% per floor), rejected an allowance for neighbouring unit renovation noise, averaged the two best adjusted comparables to derive a net monthly rent of $69,789 and added agreed outgoings of $11,500 to determine the prevailing inclusive market rent at $81,300 per month from 1 September 2005.

Court Disposition

Prevailing market rent determined and orders made

Orders

  • Prevailing market rent of the Premises for the period from 1 September 2005 is determined at HKD 81,300 per month inclusive of rates, management fees and air-conditioning charges.
  • No order as to costs.