27 Mar 2020
SARFORD DEVELOPMENT LTD AND OTHERS v. SUPER STAR PROPERTIES LTD AND ANOTHER
- Citation
- [2020] HKLdT 8
- Court
- Lands Tribunal
- Case number
- LDCS14000/2018
Applicants met the statutory ownership threshold (80% applicable) and produced unchallenged expert evidence that the buildings are over 50 years old and in poor state of repair such that redevelopment is justified; applicants took reasonable steps to acquire remaining shares (offers above the EUV); on valuation disputes the Tribunal adopted a reasoned mix of comparable-based and investment approaches for EUV and a residual method for RDV, arriving at a land/RDV/reserve price of HKD 131,690,000; accordingly a compulsory sale by public auction was ordered with trustees appointed and costs to ap…