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LDCS 28000/2020
[2022] HKLdT 16
IN THE LANDS TRIBUNAL OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
LAND COMPULSORY SALE MAIN APPLICATION NO 28000 OF 2020
__________________________
BETWEEN
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HOLLY PROPERTY COMPANY LIMITED |
Applicant |
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and |
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ACEWELL INVESTMENTS LIMITED
(嘉賢投資有限公司) |
1st Respondent |
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LAU LEE CHEUNG |
2nd Respondent
(Discontinued) |
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TSANG SO KING |
3rd Respondent
(Discontinued) |
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WELLORD INVESTMENTS LIMITED |
4th Respondent |
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EVER PRIME INC LIMITED
(恒栢興業有限公司) |
5th Respondent |
__________________________
| Before: |
Mr Lawrence Pang, Member of the Lands Tribunal |
| Dates of Hearing: |
8-11 February 2022 & 14 February 2022 |
| Date of Inspection: |
9 February 2022 |
| Date of Respondents’ Closing Submission: |
7 March 2022 |
| Date of Applicant’s Closing Submission: |
14 March 2022 |
| Date of Reply to Applicant’s Closing Submission: |
17 March 2022 |
| Date of Judgment: |
4 April 2022 |
| Date of Corrigenda: |
21 April 2022 |
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C O R R I G E N D U M
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1.Please note the following corrigenda in the Judgment dated 4 April 2022: -
2.At paragraph 64, the total adjustment and the adjusted unit rate of G12 & G13 are as follow:
| Comp |
Unit Price (/m2) |
Adjustments |
Adj Unit Price (/m2) |
| Time |
Location |
Age |
Size |
Frontage |
Layout |
Headroom |
Total |
| G2 |
$324,579 |
-3.0% |
20.0% |
0.0% |
2.0% |
1.0% |
0.0% |
0.0% |
19.9% |
$389,170 |
| G3 |
$487,805 |
-3.6% |
-10.0% |
1.0% |
4.0% |
-1.0% |
5.0% |
1.0% |
-4.3% |
$466,829 |
| G5 |
$434,783 |
1.4% |
-10.0% |
-1.0% |
8.0% |
1.0% |
5.0% |
3.0% |
6.6% |
$463,479 |
| G6 |
$401,460 |
1.4% |
20.0% |
-2.0% |
6.0% |
-2.0% |
-3.0% |
3.0% |
23.8% |
$497,007 |
| G8 |
$660,550 |
-8.9% |
15.0% |
0.0% |
0.0% |
0.0% |
0.0% |
-7.0% |
-2.6% |
$643,376 |
| G11 |
$511,765 |
-13.2% |
15.0% |
-1.0% |
4.0% |
1.0% |
8.0% |
-6.0% |
5.4% |
$539,400 |
| G12 |
$408,060 |
-12.8% |
20.0% |
0.0% |
-2.0% |
1.0% |
-3.0% |
-2.0% |
1.5%
-1.5% |
$451,561 |
| G13 |
$380,022 |
-11.9% |
20.0% |
-1.0% |
6.0% |
-1.0% |
5.0% |
4.0% |
14.2%
19.9% |
$433,985
$455,646 |
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Average: |
$488,309 |
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Average (without G2): |
$502,471 |
3.At paragraph 160, “…the average adjusted unit rate of the latter three comparables is only $146,528 per sq m. …” should read ““…the average adjusted unit rate of the latter three comparables is only $138,773 per sq m. …”.
4.At paragraph 164, the address of R4 and R5 should read as follow:
| Respondent |
Unit |
EUV |
Pro-Rata Share |
| R1 |
G/F, 47 Staunton Street |
$22,704,000 |
6.5856% |
| R4 |
G/F (including the Cockloft ), 53 Staunton Street |
$33,788,000 |
9.8007% |
| R5 |
G/F (including the Cockloft), 55 Staunton Street |
$36,733,000 |
10.6550% |
Dated this 21st day of April 2022
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(Ms YEUNG Fung Yan) |
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Clerk to Member Lawrence Pang |
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