Reysson Pty Ltd v Roads and Maritime Services (No 3) [2016] NSWLEC 69

Reysson Pty Ltd v Roads and Maritime Services (No 3) [2016] NSWLEC 69

Compensation for Reysson Pty Ltd was set at $6,212,369 based on a market value rate of $88/m² applied to 70,300m², reflecting the highest and best use of the land as a 30 lot subdivision yielding 150 dwellings on the southern portion, with the northern land valued as an open space buffer but not for commercial or seniors living use, and disturbance limited to allowed legal and valuation fees. Statutory disregards applied to zoning imposed for the acquisition purpose, and the property market's downturn due to the GFC was legitimate context, not an exceptional or anxious circumstance requiring exclusion from the market value assessment. Further, broader disturbance claims, including stamp...

Jurisdiction
Australia
Judgment Date
05 June 2016
Procedural Posture
Class 3 Compensation Proceedings / Determination of Compensation After Objection by Applicant
Outcome
Compensation determined in favour of the applicant for $6,212,369.
Legal Topics
['compensation Determination' 'market Value Assessment' 'disturbance Claim Under Land Acquisition (just Terms Compensation) Act 1991' 'zoning and Land Use' 'impact of Planning Instruments' 'role of Global Financial Crisis on Property Value' 'highest and Best Use']
['compulsory Acquisition' 'land Law' 'environmental Law' 'administrative Law'] ['compensation Determination' 'market Value Assessment' 'disturbance Claim Under Land Acquisition (just Terms Compensation) Act 1991' 'zoning and Land Use' 'impact of Planning Instruments' 'role of Global Financial Crisis on Property Value' 'highest and Best Use']

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Procedural Posture

Class 3 Compensation Proceedings / Determination of Compensation After Objection by Applicant

Legal Issues

  1. 1 ['What is the just compensation to be paid to Reysson Pty Ltd for the compulsory acquisition of Lots 11 and 14 in DP 1138459 under the Land Acquisition (Just Terms Compensation) Act 1991 (NSW)?' 'What is the market value of the land at the date of acquisition?' 'What, if any, amounts are properly payable for loss attributable to disturbance under the Act?' 'Whether land use zoning was imposed for an acquisition purpose such that a statutory disregard under the Act applies?' 'Whether there was a real prospect for commercial or seniors living development on the northern land?' 'What was the impact of the Global Financial Crisis on the property market at the time of acquisition?']

Ratio Decidendi

Compensation for Reysson Pty Ltd was set at $6,212,369 based on a market value rate of $88/m² applied to 70,300m², reflecting the highest and best use of the land as a 30 lot subdivision yielding 150 dwellings on the southern portion, with the northern land valued as an open space buffer but not for commercial or seniors living use, and disturbance limited to allowed legal and valuation fees. Statutory disregards applied to zoning imposed for the acquisition purpose, and the property market's downturn due to the GFC was legitimate context, not an exceptional or anxious circumstance requiring exclusion from the market value assessment. Further, broader disturbance claims, including stamp...

Court Disposition

Compensation determined in favour of the applicant for $6,212,369.

Orders

  • ['Determine compensation for land being Lots 11 and 14 in DP 1138459 acquired on 30 April 2010 in the sum of $6,212,369.' 'Costs reserved.' 'Exhibits may be returned.']