28 Apr 2017
WELLCITY DEVELOPMENT LTD AND OTHERS v. MAK CHUN FU AND OTHERS
- Citation
- WELLCITY DEVELOPMENT LTD AND OTHERS v. MAK CHUN FU AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS22000/2014
The Tribunal held the applicants satisfied the statutory threshold and procedural requirements, redevelopment of the building was justified by age and poor state of repair, applicants had taken reasonable steps and made fair offers based on professional EUV/RDV valuations, the Ordinance is Basic Law and HKBOR compliant, the EUV as at 19 September 2014 as assessed in the applicants' supplemental report was accepted, and an order for sale by public auction was granted with reserve price set at RDV $1,689,000,000; costs nisi ordered in favour of R2 and R7(1).