28 Jun 2000
John James Toohey v. Hero Plaza Ltd.
- Citation
- John James Toohey v. Hero Plaza Ltd.
- Court
- Lands Tribunal
- Case number
- LDNT60/1999
The Tribunal accepted the direct comparison method but rejected reliance on a single comparable; it averaged adjusted unit rates from four nearby 23 Tung Shan Terrace comparables to derive an average adjusted unit rate of $244.45/sq.m., applied that to an equivalent area of 85.24 sq.m. (flat plus terrace valued at one eighth of the flat) to compute a monthly rent of $20,837, added a car parking allowance of $2,300 to reach $23,137 and rounded to $23,000 per month as the prevailing market rent effective 1 July 1999, and ordered a two-year new tenancy on that basis.