Hong Kong Case Law: Decisions & Judgments

Topic

Reserve price determination

Legal area

Court

3 Jun 2025

EXCELLENT GROUP INC LTD v. WAH FUNG SHING LAND INVESTMENT COMPANY LTD AND OTHERS

Citation

[2025] HKLdT 27
Court

Lands Tribunal
Case number

LDCS8000/2021

Applicant entitled to apply under Cap 545 with lowered 80% threshold; market value (EUV) may reflect existing configuration where highest and best use and market reality so indicate (adopted 8-shop approach for ground floor shops and assessed overall EUV of HKD 703,670,000 as at 28 May 2021); roof units without undivided shares do not attract EUV or share of sale proceeds; building's age and inherent structural and material defects and disproportionate repair costs justify redevelopment; applicant took reasonable steps to acquire remaining shares; residual redevelopment valuation led to land…
28 Mar 2024

WINLAND PROPERTY LTD AND OTHERS v. CHANG SAI HO formerly known as LAW WAI KUN AND OTHERS

Citation

[2024] HKLdT 27
Court

Lands Tribunal
Case number

LDCS7000/2022

The Tribunal granted the compulsory sale order: Majority Owners met the reduced 80% threshold, redevelopment was justified on age and serious state of repair evidenced by experts, Majority Owners had taken reasonable steps to acquire minority shares and offers were within a fair and reasonable band; the Tribunal determined EUV and RDV (EUV total HKD 834,849,000; adopted reserve price RDV HKD 801,000,000) and set the reserve price at HKD 801,000,000; the Tribunal refused to direct trustees to withhold proceeds in respect of the third party possessory claim but ordered specific notice and a 21-…
8 Dec 2023

CROWN CENTRE DEVELOPMENT LTD AND ANOTHER v. WONG WAI PING AND OTHERS

Citation

[2023] HKLdT 73
Court

Lands Tribunal
Case number

LDCS12000/2021

The Tribunal found applicants met the statutory ownership threshold, expert evidence established the Building is functionally and structurally obsolete and redevelopment is justified by age and state of repair, the applicants took reasonable steps to acquire outstanding interests including fair offers, and the Tribunal has no residual discretion under the Ordinance to refuse an order once s4(2) criteria are satisfied; accordingly an order for compulsory sale was made and the RDV/reserve price was fixed at HKD 249,800,000.
31 Jul 2023

EVER GREAT DEVELOPMENT LTD v. CHAN WOON CHAM AND ANOTHER

Citation

[2023] HKLdT 50
Court

Lands Tribunal
Case number

LDCS6000/2020

The tribunal held that an application under s3(2)(b) may validly include lots already wholly owned by the applicant where buildings are connected by a common front staircase and averaging of ownership across the connected lots meets the statutory threshold; on the facts the applicant was entitled to continue the application for the 5th and 6th Lots; the tribunal determined EUV of all units ($424,842,000 HKD as at 26 March 2020), found redevelopment justified by age and state of repair, found applicant took reasonable steps to acquire remaining shares, and set the RDV/reserve price for the mer…
5 May 2023

CHINA ORCHID INTERNATIONAL LTD AND OTHERS v. FUJITEC (HK) CO LTD AND OTHERS

Citation

[2023] HKLdT 38
Court

Lands Tribunal
Case number

LDCS7000/2018

Applicants satisfied statutory entitlement and evidentiary burden: building is aged and in poor/obsolete condition warranting redevelopment; applicants took reasonable steps to acquire minority shares; EUV of building assessed at HK$2,765,800,000 and RDV/land value (reserve price) of the Lot determined at HK$5,125,000,000; order for sale by public auction granted and trustees appointed; reserve price set at HK$5,125,000,000.
11 Jul 2022

SMART HOST LTD v. ACEWELL INVESTMENTS LTD

Citation

[2022] HKLdT 27
Court

Lands Tribunal
Case number

LDCS29000/2020

Tribunal held applicant was entitled to make the application (ownership threshold met under Gazette notice and s3(2)(b)), redevelopment was justified by expert building and structural evidence of age and poor repair, applicant had taken reasonable steps and made fair offers, and on valuation evidence the merged-site RDV was assessed at HK$588,700,000; therefore sale of all undivided shares by single public auction together with adjoining lots (merged site) was ordered with that reserve price, trustees appointed and proceeds to be apportioned by registered site area and adopted EUVs for compen…
4 Apr 2022

HOLLY PROPERTY CO LTD v. ACEWELL INVESTMENTS LTD AND OTHERS

Citation

[2022] HKLdT 16
Court

Lands Tribunal
Case number

LDCS28000/2020

The Tribunal found the applicant met the statutory ownership threshold (taking into account the lowered 80% threshold for Lot 1), accepted uncontested expert evidence that the buildings were aged and in a state of repair that justified redevelopment, concluded the applicant had taken reasonable steps to acquire remaining shares including making increased offers, determined EUV ($344,750,000) and RDV by residual valuation and set the reserve price at $529,000,000, and therefore ordered sale by public auction with appointed trustees and costs nisi.
21 Jan 2022

CENTURY SUPREME INTERNATIONAL LTD v. KAM CHI KIT CHARLES AND OTHERS

Citation

[2022] HKLdT 6
Court

Lands Tribunal
Case number

LDCS24000/2018

The Tribunal found the applicant met statutory prerequisites including the lowered 80% threshold and produced timely valuation; the offers made fell within a fair and reasonable band; expert evidence established the Building’s age, obsolescence and state of repair justified redevelopment under s 4(2)(a); therefore an order for sale was appropriate with EUV and RDV determined and reserve price fixed at HKD 1,732,000,000.
31 Dec 2021

WONG ARLENE BEI LING AND OTHERS v. PAO ZEN KWOK PETER AND OTHERS

Citation

[2021] HKCFI 3904
Court

Court of First Instance
Case number

HCMP1406/2018

Court ordered sale by public tender only because a follow-on private tender allowing a co-owner to outbid (referential bid) would frustrate competitive bidding and likely reduce the price obtainable; appointed JLL as estate agent (0.35% fee) with specified marketing spend and valuation mechanism (mean of JLL and Knight Frank valuations as reserve price); set terms for viewing, deposit, successive reserve reductions, vacant possession 28 days before completion, distribution proportions and costs to be paid from proceeds.
21 Dec 2021

COURAGE INVESTMENTS LTD AND ANOTHER v. GO SIN LI alias WU SHEN LI AND OTHERS

Citation

[2021] HKLdT 78
Court

Lands Tribunal
Case number

LDCS17000/2020

The Tribunal found applicants met the statutory ownership threshold (80% under the Gazette notice), expert evidence (structural and condition surveys) demonstrated the Building's age and poor state of repair making redevelopment justified, applicants had taken reasonable steps to purchase minority shares, and the Savills EUV and RDV assessments were accepted leading to a reserve price of HKD 368,000,000; accordingly the Tribunal granted a compulsory sale order by public auction, appointed trustees and fixed sale conditions including a 6 year redevelopment completion requirement.