BWP Management Limited v Valuer-General

The appeal before the Court was brought by BWP Management Limited (appellant) against the Valuer-General (respondent) concerning the valuation of two parcels of land, 492 Olsen Avenue, Molendinar and 197 Reedy Creek Road, Burleigh Waters. The appellant disagreed with the valuation of these lands as conducted by the respondent under the Land Valuation Act 2010 and sought a re-evaluation by the Court. The primary legal issue before the Court was to determine the appropriate valuation for each parcel of land on the date of 1 October 2011, in accordance with the evidence presented by both parties.

The Court considered the valuation methods and evidence presented by both the appellant and the respondent. The appellant’s valuer, Mr Brett Schultz, employed a method of direct comparison of sales, using a rate per square metre based on sales of similar properties. The respondent’s valuer, Mr Derek Bale, also used direct comparison but with a focus on sales with development approvals for bulky goods retail, which were considered more directly comparable to the subject properties. Both valuers had differing opinions on the impact of easements on the land values and the appropriate discounts to be applied.

The Court found that the method employed by Mr Schultz, while not without its imperfections, was preferable as it required fewer allowances for improvements, thereby reducing the overall scope for error. The Court also accepted Mr Schultz's assessment of the impact of Easement B on the value of the land at 492 Olsen Avenue, Molendinar, and Easement K at 197 Reedy Creek Road, Burleigh Waters.

Consequently, the Court determined the site value of 492 Olsen Avenue, Molendinar to be $8,400,000 and the site value of 197 Reedy Creek Road, Burleigh Waters to be $8,283,120. The appeals were allowed, and these values were set as the determined valuations of the respective lands.