5 Aug 2022
CITY FAIR DEVELOPMENT LTD AND OTHERS v. HERN MIU FONG AND OTHERS
- Citation
- [2022] HKLdT 35
- Court
- Lands Tribunal
- Case number
- LDCS9000/2018
The tribunal found applicants satisfied the statutory threshold (80% applicable), accepted expert evidence that the Building is old and in a poor state of repair and that repair costs are disproportionate to redevelopment, determined the EUV of the Building at $640,541,000 and the RDV/reserve price at $1,213,400,000 (as at 16 May 2022) after adopting valuation adjustments and hypothetical development proposed by the applicants' expert, found the offers made fell within the band of fair and reasonable compensation and that reasonable steps were taken to acquire all undivided shares, and accord…