Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Determination of existing use value (euv) and redevelopment value (rdv)

Legal area

Court

28 May 2021

FAIRBO INVESTMENT LTD v. ALLAN GAN-HONG LEW, the Executor of the Estate of YUET KING LEW, Deceased AND OTHERS

Citation

[2021] HKLdT 39
Court

Lands Tribunal
Case number

LDCS19000/2019

The Tribunal found the applicant met the statutory ownership threshold (80% as specified by the Notice), the buildings are obsolete and in serious disrepair such that redevelopment is justified, the applicant took reasonable steps to acquire outstanding interests, the assessed existing use values for minority units are fair and reasonable compared to the applicant's assessments, and therefore a compulsory sale order by public auction should be granted with a reserve price equal to the RDV assessed at HKD 524,000,000.
29 Aug 2013

EVERSOUND INVESTMENTS LTD v. LUI YIU WING AND OTHERS

Citation

EVERSOUND INVESTMENTS LTD v. LUI YIU WING AND OTHERS<br>
Court

Lands Tribunal
Case number

LDCS2000/2012

The Tribunal ordered compulsory sale because the applicant met the applicable lowered ownership threshold (80%), the Tribunal accepted the applicant's EUV determinations (scenario 1 for ground-floor units), found redevelopment justified by age and serious structural/condition defects with disproportionate repair costs, and concluded the applicant took reasonable, fair offers to acquire the remaining share; accordingly sale by public auction was ordered with a reserve price fixed at HK$78.20 million and trustees appointed.