Hong Kong Case Law: Decisions & Judgments

Topic

Valuation of existing use value (euv)

Legal area

Court

8 Nov 2019

CENTURY WIDE DEVELOPMENT LTD v. LAI YEE WAH AND OTHERS

Citation

[2019] HKLdT 65
Court

Lands Tribunal
Case number

LDCS11000/2016

The Tribunal accepted the applicant met the statutory requirements: applicant owned more than the applicable 80% threshold at the relevant date; expert surveys established the Building is old, in poor repair and functionally obsolete so redevelopment is justified; the applicant took reasonable steps to acquire remaining undivided shares and offers fell within a fair and reasonable band; the Tribunal determined EUV of the Building at $542,070,000 and RDV/reserve price at $1,145,000,000 and therefore granted an order for sale by public auction with specified trustees and conditions.
1 Aug 2019

SOUTH CROWN DEVELOPMENT LTD v. HARPER PROPERTY LTD AND OTHERS

Citation

[2019] HKLdT 40
Court

Lands Tribunal
Case number

LDCS2000/2016

The Tribunal accepted expert evidence that the buildings are aged, in poor structural condition and economically unviable to repair; the applicant owned the requisite proportion of undivided shares under the prescribed lower threshold; the applicant had taken reasonable and procedurally fair steps (multiple offers) to acquire minority interests; the Tribunal determined the EUV (total $893,024,000) and the RDV/reserve price for a composite site ($2,137,000,000) and ordered sale by public auction, appointment of trustees, apportionment of proceeds by EUV and costs against the applicant on a nis…
14 Mar 2019

FORTRESS STAR LTD v. TONG HOK MAN AND OTHERS

Citation

[2019] HKLdT 18
Court

Lands Tribunal
Case number

LDCS8000/2017

Tribunal concluded applicant satisfied the statutory ownership threshold (per the Gazette notice lowering threshold to 80%), redevelopment of the buildings is justified by their age and poor state of repair on expert evidence, the applicant took reasonable steps to acquire remaining shares (offers were within a fair and reasonable band and above assessed EUVs), the applicant's valuations were unchallenged and the RDV of HK$496,000,000 is adopted as the reserve price; accordingly an order for compulsory sale by public auction and ancillary orders including trustees' appointment and adoption of…
21 Jul 2014

WORLDMAN DEVELOPMENT LTD v. THE PERSONAL REPRESENTATIVES OF CHAN CHAU LING, DECEASED

Citation

WORLDMAN DEVELOPMENT LTD v. THE PERSONAL REPRESENTATIVES OF CHAN CHAU LING, DECEASED
Court

Lands Tribunal
Case number

LDCS8000/2013

The Tribunal held the applicant was entitled to apply because the s.3(5) Notice reduced the threshold to 80% and the applicant owned on average 87.5% of the undivided shares in the connected lots; the Savills EUV assessments were accepted as fair and reasonable for the missing owner; expert building and structural evidence established redevelopment was justified; the applicant took reasonable steps to acquire the minority interest; the RDV evidence supported fixing the auction reserve at HK$105,000,000; accordingly an order for compulsory sale by public auction with appointed trustees and sol…

Hong Kong Case Law

CENTURY WIDE DEVELOPMENT LTD v. LAI YEE WAH AND OTHERS

SOUTH CROWN DEVELOPMENT LTD v. HARPER PROPERTY LTD AND OTHERS

FORTRESS STAR LTD v. TONG HOK MAN AND OTHERS

WORLDMAN DEVELOPMENT LTD v. THE PERSONAL REPRESENTATIVES OF CHAN CHAU LING, DECEASED