8 Dec 2014
TAI PING RESTAURANT LTD v. DIRECTOR OF LANDS
- Citation
- TAI PING RESTAURANT LTD v. DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR1/2013
The Tribunal accepted that market value at the date of resumption (3 November 2012) governs compensation and, after evaluating comparables and expert evidence, selected A6, R4 and R5 as relevant comparables, applied specific agreed and tribunal-preferred adjustment rates (including time, headroom, location adjustments of -5% to A6, -10% to R4, +15% to R5; size adjustment 1% per 4m; frontage 2% per metre full frontage; second frontage 5%; depth 1% per 1.5m), rejected depth-to-frontage ratio adjustment, computed an adjusted average unit rate and assessed the ground floor at $60,142,252; adding…