Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Rental valuation

  • 10 Mar 2008

    SUPREME HONOUR DEVELOPMENT LTD v. THE DIRECTOR OF LANDS

    Citation
    SUPREME HONOUR DEVELOPMENT LTD v. THE DIRECTOR OF LANDS
    Court
    Lands Tribunal
    Case number
    LDMT1/2001

    In the absence of reliable external comparables and to ensure internal consistency, compensation is to be assessed by projecting pre-roadwork pre-disturbance rents using the appropriate RVD rental index to derive Full Market Rent for each floor/unit and comparing that with actual rents received; allowance is made for natural vacancy (assessed at 5% in this case) and mitigation; applying that methodology and disallowing concessions not reasonably necessitated or post-roadwork periods, the Tribunal awarded the Applicant partial compensation totaling HKD3,657,634.

  • 24 Jan 2003

    CHRISTOPHER JAMES FRAPE v. CHEER WIN DEVELOPMENT LTD.

    Citation
    CHRISTOPHER JAMES FRAPE v. CHEER WIN DEVELOPMENT LTD.
    Court
    Lands Tribunal
    Case number
    LDNT205/2002

    Tribunal accepted the expert's methodology broadly but modified several adjustments (reduced location and accessibility adjustments, rejected age adjustment, reduced domestic appliances allowance to 3.5%, accepted 8% deduction where management fees included and allowed a 10% deduction for lack of lift on Comparable 4), excluded Comparable 2 as an outlier, calculated an average adjusted unit rate of $148.95 per sq.m and applied it to the subject saleable area of 176.2 sq.m to fix the monthly rent at $26,200 exclusive; granted the new tenancy for two years commencing 1 November 2002.

  • 27 Nov 1989

    FEMS INTERNATIONAL LTD v. CHIDAMBARAM VINAYAGA SUNDAEAM

    Citation
    FEMS INTERNATIONAL LTD v. CHIDAMBARAM VINAYAGA SUNDAEAM
    Court
    Court of First Instance
    Case number
    HCA7493/1988

    The court found HK$18,000 per month to be a reasonable market rental for the premises based on size, facilities, per square foot comparators and a yield of just under 11% on the flat's current value; accordingly mesne profits of HK$153,000 were awarded for the period 1 November 1988 to 15 July 1989 and costs of the assessment were awarded to the Plaintiff.