25 Jul 2011
HERO PROGRESS LTD v. TING PING KWAN BILLY AND OTHERS
- Citation
- HERO PROGRESS LTD v. TING PING KWAN BILLY AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS13000/2010
The Tribunal accepted the applicant's expert valuations and the building and structural expert evidence that the building had reached the end of its design life and was in substantial disrepair; it determined the EUV of all units (total EUV HK$35,920,000; R1 unit HK$2,320,000), conducted a residual valuation for redevelopment, fixed the reserve price at HK$70,000,000, found the applicant had taken reasonable steps to acquire the minority share and that the offer of HK$4,000,000 was fair and reasonable, and therefore granted an order for compulsory sale with apportionment by EUV under the Ordi…