31 Aug 2017
SUN CRYSTAL LTD AND OTHERS v. CHENG SIU KAU AND OTHERS
- Citation
- SUN CRYSTAL LTD AND OTHERS v. CHENG SIU KAU AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS6000/2015
The Tribunal held that the applicants satisfied the statutory threshold (applicants owned more than 80% of undivided shares), redevelopment was justified on grounds of age and state of repair based on uncontradicted expert engineering and building surveys, the applicants took reasonable steps to acquire remaining shares with offers within the acceptable range, the EUV of the building as at 19 June 2015 was determined at HK$440,780,000, and the appropriate RDV/reserve price for auction is HK$1,049,250,000 calculated on the scenario excluding the Caine Road Area but including the Proposed Lane…