29 Jun 2009
DOUBLE ROCK LTD v. THE DIRECTOR OF LANDS
- Citation
- DOUBLE ROCK LTD v. THE DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR11/2007
Tribunal selected five comparables (RC1, AC5/RC4, AC4, RC6, RC7), accepted the applicant expert's measured frontages and saleable areas (including authorized cockloft areas), adopted the parties' common use of the RVD index for time adjustments and common conversion factors for ancillary areas, rejected a general layout/shape uplift and applied specific location, size, frontage and headroom adjustments producing an average adjusted unit rate of $67,649 per sqm; applied to agreed area 52.6 sqm yields OMV $3,560,000 awarded as compensation.