16 May 2016
PENNY\'S BAY INVESTMENT CO LTD v. DIRECTOR OF LANDS
- Citation
- PENNY\'S BAY INVESTMENT CO LTD v. DIRECTOR OF LANDS
- Court
- Court of Appeal
- Case number
- CACV16/2015
The Court held that the legal fiction treating injurious affection as having accrued on the date of authorization does not compel treating the After valuation as if physical reclamation had already occurred for the purpose of assessing market expectations; expectations are factual matters to be assessed from public information at the valuation date and applied consistently to both valuations. The Tribunal erred in treating mid-stream open storage as a "godown" under Special Condition 3(a) (godown requires a warehouse/building) and in applying different uncertainty/risk factors to the Before a…
- Foreshore and sea-bed ordinance s.12 valuation
- Reclamation authorization
- Market expectations in valuation
- Construction of lease special conditions (godown)
- Effect of sub-tenancy on valuation
- Comparables adjustments