Gilles -v- Valuer General [2008] NSWLEC 1508

Gilles -v- Valuer General [2008] NSWLEC 1508

The land values were determined by identifying the highest and best use as retail/commercial space on the ground floor and residential apartments above, applying the Development Control Plan and parking requirements to determine achievable development, analysing comparable sales by residential apartment equivalent rather than site area, and adjusting for relative location, market decline to the Base Date and additional basement car parking costs and risks. On that basis the Court amended the land values to $297,000 for 462 Bunnerong Rd, $768,000 for 488 Bunnerong Rd and $731,500 for 506 Bunnerong Rd.

Jurisdiction
Australia
Judgment Date
31 December 2008
Procedural Posture
Appeals Against Land Values Assessed Under Section 6 a (1) of the Valuation of Land Act 1916 / Judgment After Hearing
Outcome
The appeals in respect of the three properties were upheld and the land values were amended; no order was made as to costs.
Legal Topics
['land Value Appeals' 'development Control Plans' 'highest and Best Use' 'comparable Sales Analysis' 'car Parking Controls']
['valuation of Land' 'planning and Environment'] ['land Value Appeals' 'development Control Plans' 'highest and Best Use' 'comparable Sales Analysis' 'car Parking Controls']

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Procedural Posture

Appeals Against Land Values Assessed Under Section 6 a (1) of the Valuation of Land Act 1916 / Judgment After Hearing

Legal Issues

  1. 1 ['Interpretation and application of the Development Control Plan for Matraville Town Centre and Development Control Plan, Parking to the subject properties' 'Determination of the maximum prospective development for 462, 488 and 506 Bunnerong Rd, Matraville' 'Selection and analysis of comparable sales and application of those results to the subject properties' 'Assessment of land values as at the Base Date of 1 July 2006']

Ratio Decidendi

The land values were determined by identifying the highest and best use as retail/commercial space on the ground floor and residential apartments above, applying the Development Control Plan and parking requirements to determine achievable development, analysing comparable sales by residential apartment equivalent rather than site area, and adjusting for relative location, market decline to the Base Date and additional basement car parking costs and risks. On that basis the Court amended the land values to $297,000 for 462 Bunnerong Rd, $768,000 for 488 Bunnerong Rd and $731,500 for 506 Bunnerong Rd.

Court Disposition

The appeals in respect of the three properties were upheld and the land values were amended; no order was made as to costs.

Orders

  • ['The appeals in respect of the three properties are upheld and the land values as at the Base Date of 1 July 2006 are amended as follows: 462 Bunnerong Rd Matraville $297,000; 488 Bunnerong Rd Matraville $768,000; 506 Bunnerong Rd Matraville $731,500.' 'No Order is made as to costs.']