Howse Williams ("HW"), a leading Hong Kong independent law firm, is pleased to announce that it successfully represented an applicant to obtain an order for the compulsory sale of Rose Court at Nos.23 to 34 Rose Street, Kowloon (LDCS 5000/2020).
On 20 September 2022, the Lands Tribunal handed down a judgment that gave the "green light" to grant an order for sale of all the undivided shares of the building, Rose Court, by way of public auction.
The reserve price set by the Tribunal for the public auction is HK$2,075,000,000.
This is the first time the firm has represented clients on compulsory sale matters. The firm recently expanded its real estate practice with the hire of Alan Yip in July as a Partner and head of the practice in July 2022.
We welcome the Tribunal's decisions in this case where the Tribunal has granted a compulsory sale order during the downturn of Hong Kong's economy. We hope this case, alongside other compulsory sale cases, will give confidence to the real estate industry and encourage majority owners to continue with the redevelopment of old residential buildings in the private sector.
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