19 Jun 2001
Nam Chun Investment Co. Ltd. v. The Director of Lands
- Citation
- Nam Chun Investment Co. Ltd. v. The Director of Lands
- Court
- Lands Tribunal
- Case number
- LDLR3/2000
The Tribunal held that section 12(c) restricts compensation for expectancies attaching to the resumed land only and does not automatically exclude use of comparables involving development potential where those comparables concern different land; the Lots' highest and best use at the valuation date was medium-density residential, the Applicant's residential-zoned comparables were admissible and reliable, a vacant possession OMV of $12,000/m2 was reasonable, but a 12% capitalisation/discount rate was preferred, producing total compensation of $57,495,000 payable to the Applicant.