Hong Kong Case Law: Decisions & Judgments

Topic

Redevelopment value (rdv) valuation

Legal area

Court

26 Nov 2020

GRAND CREATION DEVELOPMENT LTD v. JONATHAN K FUNG AND ANOTHER

Citation

[2020] HKLdT 54
Court

Lands Tribunal
Case number

LDCS3000/2019

The applicant met the statutory ownership threshold (80% pursuant to the 2010 Notice), the Buildings are obsolete and in poor repair such that redevelopment is justified, the applicant made reasonable offers to acquire minority shares falling within the band of fair and reasonable compensation (following Capital Well), the tribunal determined EUV at $150,837,956 and accepted the applicant's expert RDV assessment (with accepted assumptions) at $293,100,000, and therefore granted an order for compulsory sale with specified auction reserve, appointment of trustees and a costs order nisi with lim…
29 Aug 2013

EVERSOUND INVESTMENTS LTD v. TONGYORKTSE AND OTHERS

Citation

EVERSOUND INVESTMENTS LTD v. TONGYORKTSE AND OTHERS<br>
Court

Lands Tribunal
Case number

LDCS3000/2012

Applicant satisfied the lowered statutory ownership threshold under the Gazette notice; the Tribunal accepts expert EUV valuations based on permitted domestic use (scenario 1); independent structural and building surveys establish redevelopment is justified by age and dilapidation and repair costs are disproportionate; applicant took reasonable steps to acquire remaining share(s) by making offers above expert valuation; accordingly an order for compulsory sale by public auction is warranted with reserve price fixed at HK$63.20 million and trustees appointed.
22 Aug 2013

PINE HARVEST LTD AND ANOTHER v. HUI CHE SHING AND ANOTHER

Citation

PINE HARVEST LTD AND ANOTHER v. HUI CHE SHING AND ANOTHER
Court

Lands Tribunal
Case number

LDCS48000/2012

Applicants satisfied the statutory ownership threshold as modified by the s.3(5) notice; expert evidence established the Buildings are aged and in a dangerous state making redevelopment justified; the applicants took reasonable steps to procure minority interests including offers and attempted agreements; the valuation evidence was accepted as fair and reasonable (including assessment for the deceased owner); accordingly the Tribunal ordered compulsory sale by public auction for redevelopment, fixed the reserve price at HK$163,970,000 and appointed the proposed trustees.
20 Mar 2009

FINEWAY PROPERTIES LTD v. SIN HO YUEN VICTOR, THE ADMINISTRATOR OF THE ESTATE OF SIN YAT

Citation

FINEWAY PROPERTIES LTD v. SIN HO YUEN VICTOR, THE ADMINISTRATOR OF THE ESTATE OF SIN YAT
Court

Lands Tribunal
Case number

LDCS5000/2007

Tribunal selected and adjusted four local Haven Street shop comparables, adopted its shop EUV ($4.58M per shop) and adopted Mr. Chan's domestic valuations, found total EUV of building $38.05M, accepted Mr. Chan's residual RDV valuation of $70,434,276 (rounded $70.5M), held redevelopment justified on age and state of repair, found Applicant's offer nearest to application ($8M) fell within fair and reasonable range, and therefore granted an order for compulsory sale, appointed trustees, set reserve price $70.5M and made costs order nisi (Respondent to bear 90% of Applicant's costs unless varied…

Hong Kong Case Law

GRAND CREATION DEVELOPMENT LTD v. JONATHAN K FUNG AND ANOTHER

EVERSOUND INVESTMENTS LTD v. TONGYORKTSE AND OTHERS

PINE HARVEST LTD AND ANOTHER v. HUI CHE SHING AND ANOTHER

FINEWAY PROPERTIES LTD v. SIN HO YUEN VICTOR, THE ADMINISTRATOR OF THE ESTATE OF SIN YAT