9 Jul 2021
JOINT HOPE LTD v. VECENT HONG KONG TRADING LTD AND OTHERS
- Citation
- [2021] HKLdT 51
- Court
- Lands Tribunal
- Case number
- LDCS21000/2019
The Tribunal held the applicant met the lowered 80% threshold under the Notice and, on uncontradicted expert evidence (building surveyor and structural engineer), redevelopment was justified due to the age and poor state of repair; the applicant had taken reasonable steps to acquire remaining interests; the Tribunal accepted the applicant's valuation methodology and residual valuation inputs subject to adjustments and set a reserve price derived from that RDV at HKD 805,000,000; ordered sale by public auction, appointed trustees and awarded respondents' costs on the High Court scale.