11 May 2007
CEO LAND INFORMATION NZ V LUKE, MEDLAND, NISBETT AND CLARK HC AK CIV-2007-404-0057
- Citation
- openlaw-cb85657c_6a0b_4242_9cab_c7666bbd40ce.pdf
- Court
- High Court
The Court dismissed the Crown's appeal, holding the Tribunal applied the correct legal test (the hypothetical prudent purchaser assessing highest and best use), had an ample evidential basis for finding Council's commitment to a marine industrial rezoning which a risk-averse purchaser would factor into market value at June 2003, and correctly excluded reliance on the June 2005 sale as too remote and not properly before the Tribunal to fix value as at the earlier date.