12 Sept 2023
WELLAND RESOURCES LTD AND ANOTHER v. MEGA JOYFUL LTD
- Citation
- [2023] HKLdT 56
- Court
- Lands Tribunal
- Case number
- LDCS6000/2022
Applicants entitled to apply (held 83.33% and 2010 Notice lowered threshold to 80%); redevelopment justified on grounds of age and poor state of repair based on structural and condition reports; applicants took reasonable steps to acquire remaining share; side lane (23.2 sq m right-of-way) may be included in site area for plot ratio/GFA calculations under BD practice (APP-73) and for purposes of residual valuation the Tribunal included that area; residual valuation using appropriate comparables and adjustments produced RDV/Reserve Price HK$136,100,000; enclosed yard attributed fractional mark…