ISPT Pty Limited v Valuer General [2008] NSWLEC 114

ISPT Pty Limited v Valuer General [2008] NSWLEC 114

The applicable method is valuing by direct comparison with relevant comparable sales, with the Neeta Shopping Centre sale (after appropriate adjustments) being the most reliable indicator; the applicant failed to establish error in the Valuer General's assessments and the evidence preferred the respondent's valuations.

Parties
Applicant: ISPT Pty Limited; Respondent: Valuer General
Jurisdiction
Australia
Judgment Date
29 February 2008
Procedural Posture
Merits Appeal / Judgment
Outcome
Appeals dismissed
Legal Topics
Land Valuation, Merits Appeal, Statutory Valuation, Comparable Sales, Unimproved Value
Valuation of Land Land Valuation Merits Appeal Statutory Valuation Comparable Sales Unimproved Value

Case Brief

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Parties

ISPT Pty Limited

Applicant

Valuer General

Respondent

Procedural Posture

Merits Appeal / Judgment

Legal Issues

  1. 1 Correct land value assessment for Fairfield Forum as at 1 July 2005 and 1 July 2006
  2. 2 Appropriate method and comparability of sales evidence for statutory land valuation

Ratio Decidendi

The applicable method is valuing by direct comparison with relevant comparable sales, with the Neeta Shopping Centre sale (after appropriate adjustments) being the most reliable indicator; the applicant failed to establish error in the Valuer General's assessments and the evidence preferred the respondent's valuations.

Court Disposition

Appeals dismissed

Orders

  • The appeals in each case are dismissed.
  • No order as to costs; right reserved to bring a separate application.