12 May 1995
SAN HARVARD REALTY LTD. v. DIRECTOR OF LANDS
- Citation
- SAN HARVARD REALTY LTD. v. DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR17/1994
The Tribunal held that any effect of CRA zoning or the Resumption Scheme must be ignored, applied comparative valuation using appropriate precedents and local comparables, fixed a market unit rate of $42,000 per square metre for the subject location, determined the vacant possession open market value at about $1,725,000, adjusted for the lease and deferral to reach a compensation award of $1,700,000, and reserved interest and costs issues.