Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Market rent valuation

  • 13 Jul 2023

    VEMBER LORD LTD v. THE SWATCH GROUP (HONG KONG) LTD

    Citation
    [2023] HKCFI 1779
    Court
    Court of First Instance
    Case number
    HCA1114/2020

    The Plaintiff discharged its duty to mitigate by taking reasonable steps in the ordinary course of business to market and re-let the shops; expert market valuations were unnecessary to defeat the mitigation defence but, if considered, the Court preferred the Plaintiff's valuer's approach; the Plaintiff cannot recover rent for the rent-free periods in this damages assessment because such sums are debts reactivated on breach and outside the scope; pre-judgment interest awarded from 23 June 2021 to judgment excluding 10 March 2022 to 29 August 2022; Plaintiff entitled to assessed damages and cos…

  • 13 Jul 2023

    VEMBER LORD LTD v. THE SWATCH GROUP (HONG KONG) LTD

    Citation
    [2023] HKCFI 1779
    Court
    Court of First Instance
    Case number
    HCA1113/2020

    Master found on the facts the Plaintiff took reasonable steps to mitigate and was entitled to full assessment of damages for loss of rent and other items; rent during the rent-free periods is not recoverable in this damages assessment as it is a primary debt claim; pre-judgment interest awarded from 23 June 2021 to judgment excluding 10 March 2022–29 August 2022; costs awarded to Plaintiff on solicitor and own client basis (nisi).

  • 31 Dec 2013

    HOPE BRIGHT LTD v. THE INCORPORATED OWNERS OF KA WING BUILDING

    Citation
    HOPE BRIGHT LTD v. THE INCORPORATED OWNERS OF KA WING BUILDING
    Court
    Court of First Instance
    Case number
    HCA305/2006

    Court discounted portions of the Surveyors' market rent evidence due to internal measurement discrepancies and lack of internal inspection, adopted the actual rent achieved in the second occupied period (HK$15,300 per month) as the appropriate market rent proxy for the occupied periods, excluded recovery for rent-free periods and for the second occupied period (found rent achieved reflected a willing landlord/tenant), allowed forfeiture adjustment of HK$6,600 for security deposit shortfall, and awarded total damages of HK$371,305 plus interest and costs on assessment.