30 Oct 1982
NORDIC ASIA LTD AND OTHERS v. STRAWBERRY HILL DEVELOPMENT LTD AND ANOTHER
- Citation
- NORDIC ASIA LTD AND OTHERS v. STRAWBERRY HILL DEVELOPMENT LTD AND ANOTHER
- Court
- Lands Tribunal
- Case number
- LDLA54/1982
The Tribunal held that fair market rent under s.115(1) is the rent which might reasonably be expected to be obtained in the market (excluding atypical comparables and disregarding the Ordinance), and that the Tribunal has no statutory power to apply a separate "reasonableness" discount (such as for a corporate "package deal") unless a comparable is shown to be atypical; tenant inertia is a market factor but required no substantial allowance on these facts; Tribunal must fix disputed terms under ss.119I/119J and applied those provisions to preserve existing instalment and management charge pos…