14 Jul 2008
JOY TAKE DEVELOPMENT LTD AND OTHERS v. DIRECTOR OF LANDS
- Citation
- JOY TAKE DEVELOPMENT LTD AND OTHERS v. DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR8/2006
On the balance of probabilities the Tribunal found that absent the resumption the two owner groups would have cooperated to redevelop the entire site jointly; therefore compensation must be assessed on the market redevelopment value of the whole site. The Tribunal evaluated competing expert residual valuations, adopted a mix of their assumptions (adopted Mr Lai's site area and many GFA figures, adopted adjusted unit rates of approximately $47,700/m2 for shops and $39,100/m2 for flats, accepted marketing deduction of 1%, deferment rate 7%, adopted Mr Mo's construction cost methodology with adj…