20 Mar 2009
FINEWAY PROPERTIES LTD v. SIN HO YUEN VICTOR, THE ADMINISTRATOR OF THE ESTATE OF SIN YAT
- Citation
- FINEWAY PROPERTIES LTD v. SIN HO YUEN VICTOR, THE ADMINISTRATOR OF THE ESTATE OF SIN YAT
- Court
- Lands Tribunal
- Case number
- LDCS5000/2007
Tribunal selected and adjusted four local Haven Street shop comparables, adopted its shop EUV ($4.58M per shop) and adopted Mr. Chan's domestic valuations, found total EUV of building $38.05M, accepted Mr. Chan's residual RDV valuation of $70,434,276 (rounded $70.5M), held redevelopment justified on age and state of repair, found Applicant's offer nearest to application ($8M) fell within fair and reasonable range, and therefore granted an order for compulsory sale, appointed trustees, set reserve price $70.5M and made costs order nisi (Respondent to bear 90% of Applicant's costs unless varied…