CPD Course:
A Guide to
Lease Modification
and Site Valuation
in Hong Kong

Mr. S C Leung is a Fellow of Hong Kong Institute of Surveyors, having lots of industrial experience in property valuation, land administration, development, housing administration etc.  He has been the University Lecturer for many years, teaching real estate subjects such as Land Administration, Valuation, Estate Agency & Marketing, Land Economics, Estate Surveying Studio etc.

In the past, he had also made lots of presentations in different professional bodies such as the Law Society of Hong Kong, Hong Kong Institute of Planners, Hong Kong Institute of Certified Public Accountants, Housing Development Board (Singapore), Urban Redevelopment Authority (Singapore), Hong Kong Institute of Surveyors etc.  In addition, he has been the assessor of Assessment of Professional Competence for Hong Kong Institute of Surveyors and Royal Institution of Chartered Surveyors.

Lease modification is becoming more and more important nowadays from the land administration point of view.  It is one of the essential ways to ensure that the land resources can be utilized to a optimal level.  Through lease modification, the industrial buildings can be redeveloped into commercial or residential developments.

Whereas, the value of a site greatly depends on the development potential of a site.  How to value a vacant site? How does Building (Planning) Regulations (Cap.123F) determine the value of a site?

• The essential aspects of lease modification: Government approach to lease modification
• The procedure of lease modification: District Lands Conference
• The Premium Assessment: The 'before' and 'after' land values
• The types of lease modification: Full premium, reduced premium, technical modification and empirical premium

• Building (Planning) Regulations (Cap.123F)
• Site A, B, C
• Definition of a Street
• First Schedule: Percentage Site Coverage & Plot Ratio
• Group Discussion & Exercise