10 Sept 2003
Urban Parking Ltd v. The Commissioner of Rating & Valuation
- Citation
- Urban Parking Ltd v. The Commissioner of Rating & Valuation
- Court
- Lands Tribunal
- Case number
- LDRA377/2002
Tribunal preferred the expert comparables closest to the subject (Mr. Leung's) and found Mr. Wong's comparables were too remote and his reasoning flawed; accepted Leung's time, size, location and shape adjustments (including an accepted decline in rents ~11% p.a), applied the Tribunal's adjusted percentages to reach unit rates of $38.53/sq.m (1 Oct 2000) and $33.02/sq.m (1 Oct 2001) and fixed rateable values at HKD 7,443,600 for 2001/2002 and HKD 6,379,200 for 2002/2003.