10 Nov 2004
ROSCO TOYS LTD v. PRIME SUN INVESTMENT CO LTD
- Citation
- ROSCO TOYS LTD v. PRIME SUN INVESTMENT CO LTD
- Court
- Lands Tribunal
- Case number
- LDNT116/2004
The Tribunal rejected reliance on a single in-development renewal given abnormally low occupancy and possible non-market renewals, adjusted the external comparable (Glendale) by 20% to reflect superior positioning of Carmina Place, cross-checked the result against rateable value, and determined the PMR to be $48,500 per month inclusive; it also granted two specific early-termination options because of the impending major renovation works and the terms of the previous tenancy.