29 Nov 2004
JOHN ROBERT GORDON CHENEY v. WELLERRY INVESTMENT CO LTD
- Citation
- JOHN ROBERT GORDON CHENEY v. WELLERRY INVESTMENT CO LTD
- Court
- Lands Tribunal
- Case number
- LDNT84/2004
The Tribunal preferred recent comparables within Palm Court (Flats 3B, 5B, 7B and 9B), applied specific adjustments (floor -1% per floor; domestic appliances -5%; new letting -5%; abnormal third-year contractual increases +3%; and other agreed/time adjustments), calculated an average adjusted unit rate of $110.9 per sq.m., applied it to the Premises saleable area of 212 sq.m. and determined the prevailing market rent to be $23,500 per month exclusive of rates and management fee.