25 Mar 2020
KANNIX LTD AND ANOTHER v. CORELUXE DEVELOPMENTS LTD AND OTHERS
- Citation
- [2020] HKLdT 9
- Court
- Lands Tribunal
- Case number
- LDCS8000/2018
The Tribunal accepted expert structural and condition reports that the Building is old and in poor repair and beyond its design life; it resolved competing valuation disputes in favour of the applicants' valuation adjustments in most respects, determined total EUV at HKD 502,190,000 and RDV at HKD 700,000,000 as at 14 October 2019, and concluded applicants satisfied section 3 ownership threshold, redevelopment was justified under section 4(2)(a) and applicants had taken reasonable steps under section 4(2)(b); accordingly an order for sale by public auction was granted with specified trustees…