23 Dec 2022
ABLE WIDE CORPORATION LTD AND OTHERS v. THE INCORPORATED OWNERS OF GOOD YEAR INDUSTRIAL BUILDING AND ANOTHER
- Citation
- [2022] HKLdT 69
- Court
- Lands Tribunal
- Case number
- LDCS1000/2020
Applicants satisfied statutory 90% ownership requirement; evidence on structural and building defects, obsolescence and repair needs shows the Building has reached or is near end of its economic/design life such that redevelopment is justified under s4(2)(a); revitalisation/wholesale conversion is not a sufficiently certain or higher‑value alternative in multiple ownership and cannot block an order for sale; applicants took reasonable steps to acquire remaining shares under s4(2)(b); Tribunal adopted a residual valuation with developer's profit at 20% and appropriate deductions to fix the mar…