21 Dec 2021
COURAGE INVESTMENTS LTD AND ANOTHER v. GO SIN LI alias WU SHEN LI AND OTHERS
- Citation
- [2021] HKLdT 78
- Court
- Lands Tribunal
- Case number
- LDCS17000/2020
The Tribunal found applicants met the statutory ownership threshold (80% under the Gazette notice), expert evidence (structural and condition surveys) demonstrated the Building's age and poor state of repair making redevelopment justified, applicants had taken reasonable steps to purchase minority shares, and the Savills EUV and RDV assessments were accepted leading to a reserve price of HKD 368,000,000; accordingly the Tribunal granted a compulsory sale order by public auction, appointed trustees and fixed sale conditions including a 6 year redevelopment completion requirement.