10 May 2000
Lai Yu v. The Director of Lands
- Citation
- Lai Yu v. The Director of Lands
- Court
- Lands Tribunal
- Case number
- LDLR6/1999
Tribunal accepted the direct comparison method, rejected the applicant's selected comparables as not being used for open storage, adopted the respondent's five comparables transacted near the valuation date, applied tribunal‑determined percentage adjustments for location, access, shape, size, right of way and power line, derived an average adjusted unit rate of approximately $1,900/m2 and assessed the open market value of the resumed lot at $1,770,000 as at 22 September 1999.