30 Oct 1982
NORDIC ASIA LTD AND OTHERS v. STRAWBERRY HILL DEVELOPMENT LTD AND ANOTHER
- Citation
- NORDIC ASIA LTD AND OTHERS v. STRAWBERRY HILL DEVELOPMENT LTD AND ANOTHER
- Court
- Lands Tribunal
- Case number
- LDLA42/1982
The Tribunal held that 'fair market rent' under Section 115(1) means the rent typical of the relevant market ascertained by reference to normal market comparables, excluding rents produced by special or non-typical circumstances; it rejected a general discount for 'package deals' because corporate participation is a market fact not a distinct statutory discount; tenant inertia is a market factor but on these facts required no substantial adjustment; differences between 2- and 3-year terms did not warrant separate adjustments; Tribunal must determine other disputed lease terms (installments, d…