14 Dec 2021
ONBRAVE LTD v. MALKANI, SUNITA BHAGWAN AND ANOTHER
- Citation
- [2021] HKLdT 80
- Court
- Lands Tribunal
- Case number
- LDCS27000/2020
The tribunal found the applicant met the statutory ownership threshold, accepted the expert structural and condition evidence that the building is obsolete and in poor repair so redevelopment is justified, accepted that the applicant had taken reasonable steps to acquire outstanding shares (offers fell within a fair and reasonable band), adopted agreed valuation adjustments and expert determinations and therefore granted an order for sale with EUV of the building at HKD 643,830,000 and RDV/reserve price set at HKD 1,009,000,000.