26 Feb 2007
MINGO PROPERTIES LTD v. THE DIRECTOR OF LANDS
- Citation
- MINGO PROPERTIES LTD v. THE DIRECTOR OF LANDS
- Court
- Lands Tribunal
- Case number
- LDLR6/2005
The Tribunal held that the open market value at the date of reversion (25 May 2005) must be determined by direct comparison on a vacant possession basis, valuing the two registered portions separately (as two shops), rejecting the zonal and investment 'check' methods as unnecessary or unreliable on the evidence, and adopting specified comparables and adjustments to arrive at an award of $17,080,000 in compensation.