Noble Resources Ltd. v. Golden Code Development Ltd.

Noble Resources Ltd. v. Golden Code Development Ltd.

The Tribunal declined to place weight on the respondent's untested surveyor's report and preferred the qualified valuer's evidence (Mr. Cullen) where it was supported by professional qualifications and testing; accordingly the market rent was fixed at $72,000 per month and a two-year tenancy was granted from 1.9.2000 to 31.8.2002.

Citation
Noble Resources Ltd. v. Golden Code Development Ltd.
Parties
Applicant: Noble Resources Limited; Respondent: Golden Code Development Limited
Court
Lands Tribunal
Jurisdiction
Hong Kong
Judgment Date
21 May 2001
Case Number
LDNT298/2000
Procedural Posture
New Tenancy Application (lands Tribunal) / Judgment
Outcome
New tenancy granted for two years with monthly rent fixed at $72,000 exclusive of rates and management fees; each party to bear its own costs.
Legal Topics
Market Rent Determination, Comparables Adjustments, Weight of Expert Evidence, Costs
Source Language
EN
Landlord and Tenant Property Valuation Tenancy Renewal Evidence Market Rent Determination Comparables Adjustments Weight of Expert Evidence Costs

Case Brief

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Parties

Noble Resources Limited

Applicant

Golden Code Development Limited

Respondent

Procedural Posture

New Tenancy Application (lands Tribunal) / Judgment

Legal Issues

  1. 1 Determination of the monthly rent for a renewed tenancy
  2. 2 Weight to be given to competing valuation reports and witness evidence
  3. 3 Proper adjustments to comparables for garden, unit size, refurbishment, air-conditioning and break clause

Ratio Decidendi

The Tribunal declined to place weight on the respondent's untested surveyor's report and preferred the qualified valuer's evidence (Mr. Cullen) where it was supported by professional qualifications and testing; accordingly the market rent was fixed at $72,000 per month and a two-year tenancy was granted from 1.9.2000 to 31.8.2002.

Court Disposition

New tenancy granted for two years with monthly rent fixed at $72,000 exclusive of rates and management fees; each party to bear its own costs.

Orders

  • Applicant is granted a new tenancy for 2 years from 1.9.2000 to 31.8.2002 at a monthly rental of $72,000 exclusive of rates and management fees
  • Other terms of the new tenancy to be the same as under the expired tenancy agreement save for the monthly rental, dates and the amounts of rental deposits