Hong Kong Case Law: Decisions & Judgments

Topic

Valuation of existing use value and redevelopment value

Legal area

Court

13 Jun 2018

ASIA CHARMING LTD v. KAR SHING CAPITAL RESOURCES LTD AND OTHERS

Citation

[2018] HKLdT 44
Court

Lands Tribunal
Case number

LDCS5000/2016

The tribunal found the applicant met the applicable ownership threshold (80%), established redevelopment was justified due to the age and poor state of repair of the buildings on expert evidence, and had taken reasonable steps to acquire remaining shares; the tribunal therefore granted an order for sale, approved sale as a composite site, set the reserve price at the merged RDV of HKD 1,445,000,000, adopted the tribunal-determined EUV (total HKD 583,482,000) for apportionment of proceeds, appointed trustees, imposed a 6-year completion requirement for redevelopment and ordered costs nisi in f…
1 Nov 2017

ANLING LTD AND OTHERS v. HULTUCKTONG ENTERPRISES LTD AND OTHERS

Citation

ANLING LTD AND OTHERS v. HULTUCKTONG ENTERPRISES LTD AND OTHERS
Court

Lands Tribunal
Case number

LDCS1000/2015

The Tribunal held that applicants met the statutory ownership threshold (applying the 80% threshold in the Notice), accepted the applicants' unchallenged expert valuations of EUV as fair and reasonable, found redevelopment justified on age and state of repair based on uncontradicted expert evidence, and that applicants had taken reasonable steps to acquire remaining shares; accordingly the Tribunal ordered a compulsory public auction for redevelopment, appointed trustees and set the reserve price at the assessed RDV of $2,055,000,000.
31 Oct 2014

MAIN LIGHT LTD v. TIME RICHIE INVESTMENT LTD

Citation

MAIN LIGHT LTD v. TIME RICHIE INVESTMENT LTD
Court

Lands Tribunal
Case number

LDCS3000/2013

The tribunal held that the applicant satisfied the ownership threshold under s3(1); based on unchallenged expert evidence the Building is justified for redevelopment due to age and poor state of repair (s4(2)(a)); the applicant took reasonable steps to acquire all undivided shares and made offers that fall within a broadly fair and reasonable range (s4(2)(b)); the tribunal accepted the EUV and RDV figures for purposes of the order despite reservations about some valuation adjustments and fixed the auction reserve price at HK$169,250,000; accordingly an order for sale by public auction was gra…

Hong Kong Case Law

ASIA CHARMING LTD v. KAR SHING CAPITAL RESOURCES LTD AND OTHERS

ANLING LTD AND OTHERS v. HULTUCKTONG ENTERPRISES LTD AND OTHERS

MAIN LIGHT LTD v. TIME RICHIE INVESTMENT LTD