29 Jan 2003
WAN WAI HONG & OTHERS v. THE DIRECTOR OF LANDS
- Citation
- WAN WAI HONG & OTHERS v. THE DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR7/2002
The Tribunal selected and adjusted comparables based on proximity, size and retail characteristics, rejected very small-size comparables for the larger Tai Ho Road unit, accepted Comparable R1 as a valid arm's-length indicator, rejected separate adjustment for building age and layout, adopted specified adjustments and unit rates, and applied capitalization rates of 6% for Yeung Uk Road (low passing rent) and 9% for Tai Ho Road (passing rent above market yield) resulting in awards of HK$2,378,000 and HK$6,965,000 respectively.