30 Oct 1982
NORDIC ASIA LTD AND OTHERS v. STRAWBERRY HILL DEVELOPMENT LTD AND ANOTHER
- Citation
- NORDIC ASIA LTD AND OTHERS v. STRAWBERRY HILL DEVELOPMENT LTD AND ANOTHER
- Court
- Lands Tribunal
- Case number
- LDLA53/1982
The Tribunal held that 'fair market rent' under s.115(1) is the market rent that might reasonably be expected in the market, excluding atypical or special-case comparables and disregarding the effect of the Ordinance; it rejected discounting open market rent for a generic 'package deal' factor (corporate premium) because that is a market reality unless a comparable is atypical, accepted tenant inertia as a potential market factor but found no substantial adjustment necessary on these facts, and declined to adjust rents for 2 v 3 year terms; the Tribunal fixed durations, other tenancy terms (m…