25 Apr 2000
Poon Chao Fai v. Director of Lands
- Citation
- Poon Chao Fai v. Director of Lands
- Court
- Lands Tribunal
- Case number
- LDLR6/1998
Tribunal accepted the applicant expert's location adjustments after site inspection, adopted $300,000 per square metre as the base unit rate, took the subject concrete cockloft at 25% of ground floor value and comparables' cocklofts at 15%, adopted yard/flat roof at 1/6 of ground floor rate, and yields of 3.6% (term) and 4.6% (reversion). Applying those determinations produced an open market value for the premises of HK$20,850,000; together with agreed purchase costs of HK$619,360 the Respondent was ordered to pay HK$21,469,360.