7 Jan 2003
EASE GOLD DEVELOPMENT LTD v. SECRETARY FOR TRANSPORT
- Citation
- EASE GOLD DEVELOPMENT LTD v. SECRETARY FOR TRANSPORT
- Court
- Lands Tribunal
- Case number
- LDMR13/1999
The Tribunal held that the open market rent for the temporary occupation must be assessed subject to the prevailing 'Undetermined' zoning; comparables for open storage lacking Section 16 approval were generally unsuitable, but adjusted comparables that reflected likelihood of alternative use and formation costs could inform valuation; fishpond (existing lawful) use at $2.9/m2 p.a. was accepted as appropriate baseline, and after analysis the Tribunal adopted an adjusted unit rent of $93/m2 p.a. for calculation of payable rents and ordered specific payments.