18 Apr 2007
HOI MIU INVESTMENT CO LTD v. THE DIRECTOR OF LANDS
- Citation
- HOI MIU INVESTMENT CO LTD v. THE DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR2/2004
Tribunal accepted three comparables (AC2, AC3, RC1), adopted time adjustments based on Rating & Valuation Department indices and a set of combined adjustments (time, location, headroom, size, frontage, layout, building age) producing an average adjusted unit rate of $51,793/m2; applied that unit rate to agreed effective saleable areas to determine the open market values on vacant possession for A1-A3; for A4, which was tenanted, Tribunal applied the accepted term-plus-reversion method using an estimated market rent ($15,700/month), years purchase/PV factors for 6 months at 9% and 10% respecti…