P&N Group Holdings Pty Ltd –v- Valuer General [2010] NSWLEC 1125

P&N Group Holdings Pty Ltd –v- Valuer General [2010] NSWLEC 1125

The Applicant sufficiently proved, on the balance of probabilities, that the appropriate land value as at the base date was $1,530,000, having regard to the directly relevant comparable sales and appropriate adjustments for zoning, location, time, size, and frontage/aspect. The basement car park forms part of the improvements that are to be disregarded under section 6A(1) of the Act, thus adjustment for excavation is not required.

Parties
Applicant: P&N Group Holdings Pty Ltd; Respondent: Valuer General
Jurisdiction
Australia
Judgment Date
28 May 2010
Procedural Posture
Appeal / Final Judgment
Outcome
Appeal upheld
Legal Topics
Land Value Assessment, Comparable Sales, Improvements and Land Improvements Under Valuation Legislation
Valuation of Land Environmental Law Land Value Assessment Comparable Sales Improvements and Land Improvements Under Valuation Legislation

Case Brief

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Parties

P&N Group Holdings Pty Ltd

Applicant

Valuer General

Respondent

Procedural Posture

Appeal / Final Judgment

Legal Issues

  1. 1 Whether the assessed Land Value for 36-38 Victoria Street, Burwood was excessive
  2. 2 Whether certain works constitute improvements for the purposes of valuation under the Act
  3. 3 What comparable sales are most relevant to the valuation of the subject property, and necessary adjustments

Ratio Decidendi

The Applicant sufficiently proved, on the balance of probabilities, that the appropriate land value as at the base date was $1,530,000, having regard to the directly relevant comparable sales and appropriate adjustments for zoning, location, time, size, and frontage/aspect. The basement car park forms part of the improvements that are to be disregarded under section 6A(1) of the Act, thus adjustment for excavation is not required.

Court Disposition

Appeal upheld

Orders

  • The Appeal is upheld.
  • The Land Value for the property known as 36-38 Victoria Street, Burwood as at the base date of 1st July 2007 is $1,530,000.