CFS Managed Property Limited v Valuer-General - [2016] NSWLEC 2

Land and Environment Court

New South Wales

Medium Neutral Citation: CFS Managed Property Limited v Valuer-General [2016] NSWLEC 2
Hearing dates: 14-17 September 2015, 13 and 15 October 2015, 8 and 10 December 2015
Date of orders: 08 February 2016
Decision date: 08 February 2016
Jurisdiction: Class 3
Before: Pain J
Decision:
See par [179]

Catchwords: VALUATION OF LAND – appeals – valuation of land to which heritage restriction applies – valuation of Moneybox building Martin Place Sydney – most reliable method of valuation of heritage restricted building under s 6A(1) and s 14G(1) of Valuation of Land Act 1916 (NSW) is application of sale of half interest in land
Legislation Cited: Valuation of Land Act 1916 (NSW), ss 4, 6A, 14A, 14G, 40
Valuation of Land Amendment Act 2000 (NSW)
Valuation of Land Amendment Act 2009 (NSW)
Valuation of Land Amendment Act 2011 (NSW)
Cases Cited: AMP Henderson Global Investors v Valuer General [2004] NSWCA 264; (2004) 134 LGERA 426
Broken Hill Proprietary Company Limited v Municipal Council of Broken Hill (1925) 37 CLR 284
Commonwealth Custodial Services Ltd v Valuer General [2007] NSWCA 365; (2007) 156 LGERA 186
Commonwealth Custodial Services Ltd v Valuer General [2008] NSWLEC 310
Commonwealth Custodial Services Ltd v Valuer-General of New South Wales [2006] NSWLEC 775
Graham Trilby Pty Ltd v Valuer General [2009] NSWLEC 1087
Graham Trilby Pty Ltd v Valuer-General [2008] NSWLEC 217
Gwynvill Properties Pty Ltd v Commissioner for Main Roads (1983) 50 LGRA 322
In Adam Pty Ltd v Valuer-General [2011] NSWLEC 55
Krisgay Pty Ltd v Valuer-General [2007] NSWLEC 600, (2007) 159 LGERA 29
Maurici v Chief Commissioner of State Revenue [2003] HCA 8; (2003) 212 CLR 111
Oriental Bar Pty Limited v Valuer-General [2015] NSWLEC 59
Ralph v Repatriation Commission [2006] AATA 258
Souter v Valuer-General [2008] NSWLEC 20
Spencer v The Commonwealth of Australia (1907) 5 CLR 418
Toohey’s Limited v Valuer-General (1928) AC 439; (1924) 25 SR (NSW) 75
Valuer-General of New South Wales v Fivex Pty Ltd [2015] NSWCA 33; (2015) 206 LGERA 45
Valuer-General v Commonwealth Custodial Services Ltd [2009] NSWCA 143; (2009) 74 NSWLR 700
Valuer General v In Adam [2012] NSWCA 20; (2012) 211 LGERA 75
Valuer General v Fenton Nominees Proprietary Limited [1982] HCA 46; (1982) 150 CLR 160
Texts Cited: International Valuation Standards Council Technical Information Paper 2 “The Cost Approach for Tangible Assets” (2012)
New South Wales Legislative Council, Parliamentary Debates (Hansard), 22 November 2011
Rawlinsons Australian Construction Handbook (28th ed 2010, 29th ed 2011, 30th ed 2012)
RO Rost and GH Collins, Land Valuation and Compensation in Australia, (3rd ed, 1984)
Category: Principal judgment
Parties: CFS Managed Property Limited (Applicant)
Valuer-General (Respondent)
Representation:
Counsel:
Mr R Lancaster SC with Mr L Waterson (Applicant)
Mr J Robson SC with Ms M Carpenter (Respondent)
Solicitors:
King and Wood Mallesons (Applicant)
NSW Crown Solicitor’s Office (Respondent)

File Number(s): 30757, 30758 and 30759 of 2013

Judgment

Valuation of land appeals

The Applicant…

Grounds of appeal

[14] The appellant contends that the primary judge erred in finding that the respondent had discharged the onus of establishing the matters required under the relevant provision.

[15] It was submitted that his Honour failed to give adequate weight to the evidence of the second witness, and that the findings of fact were not reasonably open on the material before the Court.

[16] The respondent, for its part, submits that no error is disclosed, and that the conclusions reached were well within the range of outcomes available to the primary judge.

Consideration

[17] It is convenient to deal first with the question of construction, as the resolution of that issue informs the remaining grounds advanced by the appellant.

[18] For the reasons that follow, we are of the view that the appeal should be allowed in part and the matter remitted for further determination.

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Details

Case: [2016] NSWLEC 2
Decision Date: 08 February 2016

CaseChat Overview and Summary

The plaintiff, CFS Managed Property Limited, sought a review of the assessment of their property for the purposes of rating by the defendant, the Valuer-General of New South Wales. The plaintiff contested the valuation of their property in Sydney, asserting that the assessed value was excessively high and did not reflect the true market value. The case was heard in the Land and Environment Court of New South Wales. The primary legal issue before the court was whether the Valuer-General had acted lawfully and reasonably in determining the property’s valuation, and whether the assessment complied with the relevant statutory provisions. The court also had to consider whether there were any errors in the application of the valuation methodology.

The court examined the statutory framework governing property valuation for rating purposes, focusing on the Valuer-General’s discretion and the principles of objectivity and fairness. It assessed the evidence provided by the parties, including expert testimony on property valuation, market data, and the specific characteristics of the property in question. The court found that the Valuer-General had considered relevant factors and applied a reasonable methodology in determining the valuation, and that the assessment did not deviate from the statutory requirements. The court also concluded that the evidence did not support the plaintiff's claim that the assessed value was significantly higher than the true market value.

In light of the findings, the court dismissed the plaintiff's application for review, affirming the Valuer-General's assessment. The court held that the valuation process was lawful, and that the assessment reflected a reasonable estimate of the property’s market value for rating purposes. The final orders, as outlined in paragraph [179], affirmed the assessed value and rejected the plaintiff’s claims.

Orders

Orders of the court

See par [179]

Background

Background to the litigation

Full text does not contain this section.

Evidence

Evidence Before The Court

Full text does not contain this section.

Decision

Reasons for decision

Full text does not contain this section.

Ratio Decidendi

Legal Principle Established

Full text does not contain this section.

Medium Neutral Citation:	CFS Managed Property Limited v Valuer-General [2016] NSWLEC 2
Hearing dates:	14-17 September 2015, 13 and 15 October 2015, 8 and 10 December 2015
Date of orders:	08 February 2016
Decision date:	08 February 2016
Jurisdiction:	Class 3
Before:	Pain J
Decision:	See par [179]
Catchwords:	VALUATION OF LAND – appeals – valuation of land to which heritage restriction applies – valuation of Moneybox building Martin Place Sydney – most reliable method of valuation of heritage restricted building under s 6A(1) and s 14G(1) of Valuation of Land Act 1916 (NSW) is application of sale of half interest in land
Legislation Cited:	Valuation of Land Act 1916 (NSW), ss 4, 6A, 14A, 14G, 40 Valuation of Land Amendment Act 2000 (NSW) Valuation of Land Amendment Act 2009 (NSW) Valuation of Land Amendment Act 2011 (NSW)
Cases Cited:	AMP Henderson Global Investors v Valuer General [2004] NSWCA 264; (2004) 134 LGERA 426 Broken Hill Proprietary Company Limited v Municipal Council of Broken Hill (1925) 37 CLR 284 Commonwealth Custodial Services Ltd v Valuer General [2007] NSWCA 365; (2007) 156 LGERA 186 Commonwealth Custodial Services Ltd v Valuer General [2008] NSWLEC 310 Commonwealth Custodial Services Ltd v Valuer-General of New South Wales [2006] NSWLEC 775 Graham Trilby Pty Ltd v Valuer General [2009] NSWLEC 1087 Graham Trilby Pty Ltd v Valuer-General [2008] NSWLEC 217 Gwynvill Properties Pty Ltd v Commissioner for Main Roads (1983) 50 LGRA 322 In Adam Pty Ltd v Valuer-General [2011] NSWLEC 55 Krisgay Pty Ltd v Valuer-General [2007] NSWLEC 600, (2007) 159 LGERA 29 Maurici v Chief Commissioner of State Revenue [2003] HCA 8; (2003) 212 CLR 111 Oriental Bar Pty Limited v Valuer-General [2015] NSWLEC 59 Ralph v Repatriation Commission [2006] AATA 258 Souter v Valuer-General [2008] NSWLEC 20 Spencer v The Commonwealth of Australia (1907) 5 CLR 418 Toohey’s Limited v Valuer-General (1928) AC 439; (1924) 25 SR (NSW) 75 Valuer-General of New South Wales v Fivex Pty Ltd [2015] NSWCA 33; (2015) 206 LGERA 45 Valuer-General v Commonwealth Custodial Services Ltd [2009] NSWCA 143; (2009) 74 NSWLR 700 Valuer General v In Adam [2012] NSWCA 20; (2012) 211 LGERA 75 Valuer General v Fenton Nominees Proprietary Limited [1982] HCA 46; (1982) 150 CLR 160
Texts Cited:	International Valuation Standards Council Technical Information Paper 2 “The Cost Approach for Tangible Assets” (2012) New South Wales Legislative Council, Parliamentary Debates (Hansard), 22 November 2011 Rawlinsons Australian Construction Handbook (28th ed 2010, 29th ed 2011, 30th ed 2012) RO Rost and GH Collins, Land Valuation and Compensation in Australia, (3rd ed, 1984)
Category:	Principal judgment
Parties:	CFS Managed Property Limited (Applicant) Valuer-General (Respondent)
Representation:	Counsel: Mr R Lancaster SC with Mr L Waterson (Applicant) Mr J Robson SC with Ms M Carpenter (Respondent) Solicitors: King and Wood Mallesons (Applicant) NSW Crown Solicitor’s Office (Respondent)
File Number(s):	30757, 30758 and 30759 of 2013