Rostam Pty Ltd v Valuer General; Shavran Pty Ltd v Valuer General [2011] NSWLEC 1387

Rostam Pty Ltd v Valuer General; Shavran Pty Ltd v Valuer General [2011] NSWLEC 1387

The correct valuation of both properties is under s 6A(1) of the Valuation of Land Act 1916, assessed by adjusting relevant comparable sales, recognising planning controls and land improvement values, resulting in lower land values than those initially assessed by the respondent.

Parties
Applicant: Rostam Pty Ltd; Applicant: Shavran Pty Ltd; Respondent: Valuer General
Jurisdiction
Australia
Judgment Date
14 October 2011
Procedural Posture
Appeal / Final Judgment
Outcome
Appeals allowed
Legal Topics
Valuation of Land, Land Value Appeals, Land Improvements, Comparable Sales, Highest and Best Use
Property Law Valuation of Land Land Value Appeals Land Improvements Comparable Sales Highest and Best Use

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Parties

Rostam Pty Ltd

Applicant

Shavran Pty Ltd

Applicant

Valuer General

Respondent

Procedural Posture

Appeal / Final Judgment

Legal Issues

  1. 1 Determination of correct land value for two properties under Valuation of Land Act 1916 as at base dates of 1 July 2007, 2008, 2009
  2. 2 Whether valuation should be under s 6A(1) or s 6A(2)
  3. 3 Assessment of land improvements in value calculation

Ratio Decidendi

The correct valuation of both properties is under s 6A(1) of the Valuation of Land Act 1916, assessed by adjusting relevant comparable sales, recognising planning controls and land improvement values, resulting in lower land values than those initially assessed by the respondent.

Court Disposition

Appeals allowed

Orders

  • Appeals are allowed.
  • 523 - 527 Elizabeth Street Surry Hills: The land value under s 6A(1) of the Act is determined at $1,498,900 at base date 1 July 2007, $1,349,000 at base dates 1 July 2008 and 1 July 2009.