14 Nov 2023
CENTURY TREASURE LTD AND ANOTHER v. OR PUI KWAN AND OTHERS
- Citation
- [2023] HKCA 1286
- Court
- Court of Appeal
- Case number
- CAMP330/2023
Schedule 2 §2(a) unambiguously requires the reserve price to take into account the redevelopment potential of the subject lot "on its own"; the legislative history confirms the provision was intended to exclude enhancement arising from adjoining majority‑owned lots. The reserve price is a minimum and the market/auction is the mechanism to reflect any hope or marriage value; absent evidence of probable speculators or special purchasers, marriage/hope value should not be included. Therefore leave to appeal was refused.