11 Aug 2017
FORTRESS JET LTD AND OTHERS v. TANG HOI YIP AND CHEUNG SAU CHAN PROPERTY LTD AND OTHERS
- Citation
- FORTRESS JET LTD AND OTHERS v. TANG HOI YIP AND CHEUNG SAU CHAN PROPERTY LTD AND OTHERS
- Court
- Lands Tribunal
- Case number
- LDCS3000/2015
Where a majority owner meets the statutory ownership threshold (here 80% by Gazette notice) and the Tribunal is satisfied on evidence that the buildings are aged, physically and functionally obsolete such that hypothetical repair cost is substantial and disproportionate to rebuilding cost, and that the majority has taken reasonable steps to acquire minority interests by making fair offers, the Tribunal will order compulsory sale for redevelopment; the correct assessment standard for redevelopment is the tenantable condition/obsolescence test (broader than MBIS safety standard).