10 Mar 2008
SUPREME HONOUR DEVELOPMENT LTD v. THE DIRECTOR OF LANDS
- Citation
- SUPREME HONOUR DEVELOPMENT LTD v. THE DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDMT1/2001
In the absence of reliable external comparables and to ensure internal consistency, compensation is to be assessed by projecting pre-roadwork pre-disturbance rents using the appropriate RVD rental index to derive Full Market Rent for each floor/unit and comparing that with actual rents received; allowance is made for natural vacancy (assessed at 5% in this case) and mitigation; applying that methodology and disallowing concessions not reasonably necessitated or post-roadwork periods, the Tribunal awarded the Applicant partial compensation totaling HKD3,657,634.