27 Mar 2009
FINEWAY PROPERTIES LTD v. AU YEUNG CHOW AND ANOTHER
- Citation
- FINEWAY PROPERTIES LTD v. AU YEUNG CHOW AND ANOTHER
- Court
- Lands Tribunal
- Case number
- LDCS6000/2007
Tribunal rejected respondent's expert second EUV report and RDV evidence as unreliable, accepted applicant's expert Mr Chan's valuations and residual valuation methodology, fixed EUV of the building at HK$40,400,000 and EUV of Respondent's unit at HK$4,730,000 (11.7079%), fixed RDV at HK$71,929,355 (rounded to HK$72,000,000), found redevelopment justified on age and state of repair and that Applicant made reasonable offers (up to HK$8,000,000), and therefore granted an order for compulsory sale with reserve price set at HK$72,000,000.