Kokkinidis v Zaharopoulos [2011] NSWADT 153

Kokkinidis v Zaharopoulos [2011] NSWADT 153

The joint review determination must be set aside because both valuers made a manifest fundamental error concerning the area of the comparable property used for rent calculation, which materially affected the determination of current market rent.

Jurisdiction
Australia
Judgment Date
27 June 2011
Procedural Posture
Retail Lease Dispute / Principal Judgment
Outcome
Joint review determination set aside; fees refunded; each party to bear own costs.
Legal Topics
['market Rent Determination' 'review of Valuation' 'fundamental Error in Valuation' 'costs Orders']
['retail Leases' 'commercial Law'] ['market Rent Determination' 'review of Valuation' 'fundamental Error in Valuation' 'costs Orders']

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Procedural Posture

Retail Lease Dispute / Principal Judgment

Legal Issues

  1. 1 ['Whether the joint review determination by specialist retail valuers should be set aside for manifest fundamental error' 'Whether the original market rent determination should be affirmed by operation of statutory deeming provisions' 'Entitlement to refund of valuation fees' 'Entitlement to costs orders']

Ratio Decidendi

The joint review determination must be set aside because both valuers made a manifest fundamental error concerning the area of the comparable property used for rent calculation, which materially affected the determination of current market rent.

Court Disposition

Joint review determination set aside; fees refunded; each party to bear own costs.

Orders

  • ['The joint review determination of the specialist retail valuers Charles Verheyden and Ian Handley dated 20 October 2010 is set aside pursuant to section 32A(12)(a) of the Retail Leases Act 1994.' 'The fees paid by the parties to the specialist retail valuers as above are to be refunded within 28 days pursuant to...