12 Nov 2001
GEORGE COLIN MAGNUS & ANOTHER v. LEE CHONG ESTATES LTD.
- Citation
- GEORGE COLIN MAGNUS & ANOTHER v. LEE CHONG ESTATES LTD.
- Court
- Lands Tribunal
- Case number
- LDNT162/2001
The Tribunal fixed the prevailing market rent for the two year tenancy commencing 1 July 2001 at HK$49,000 per month (exclusive of rates and management fees). It did so by adopting the direct comparison method, rejecting the 1st and 7th comparables as outliers, accepting time adjustments per the Rating & Valuation Department indices, applying a 0.25% per floor adjustment by floor number, accepting a lump sum deduction/addition for fixtures and chattels (fixed at HK$2,000 for the subject and HK$1,500 for certain comparables), deducting HK$2,500 for covered parking where applicable, applying a…