2 Dec 2013
SILVER WISDOM INVESTMENTS LTD AND ANOTHER v. YEUNG HIN KAN AND TAM SAU WAH AND ANOTHER
- Citation
- SILVER WISDOM INVESTMENTS LTD AND ANOTHER v. YEUNG HIN KAN AND TAM SAU WAH AND ANOTHER
- Court
- Lands Tribunal
- Case number
- LDCS7000/2013
The Tribunal found the applicants met the statutory ownership threshold, accepted expert evidence that the Building is aged, functionally obsolete and in very poor/unsafe repair making redevelopment justified, found the applicants made multiple offers that a reputable valuer (Savills) supported and thus were reasonable steps to acquire the remaining share, accepted the residual valuation for redevelopment (RDV) and therefore ordered compulsory sale by public auction with reserve price set at HK$207,300,000 and ancillary directions including appointment of trustees and completion timeframe.