8 Aug 2014
BRIGHT DRAGON PROPERTIES LTD v. DIRECTOR OF LANDS
- Citation
- BRIGHT DRAGON PROPERTIES LTD v. DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR3/2007
Court found the enclosure at the Portion fell within the Building and did not affect the structure, thus was exempt under Buildings Ordinance s.41(3); the applicant was entitled to compensation for its right to use the Portion and the Portion should be valued on its best use as shop area at 7.94 sq m x $263,195/sq m = $2,090,000; for the Upper Floors the tribunal accepted the respondent expert's comparables analysis with adjustments, discarded certain outlier comparables, and fixed an adjusted unit rate of $40,539/sq m giving value of $24,445,000; the tribunal rejected the applicant expert's…