Commonwealth Custodial Services Ltd v Valuer General - [2008] NSWLEC 310

Land and Environment Court

of New South Wales

CITATION: Commonwealth Custodial Services Ltd v Valuer General [2008] NSWLEC 310
This decision has been amended. Please see the end of the judgment for a list of the amendments.

PARTIES:
APPLICANT:
Commonwealth Custodial Services Ltd
RESPONDENT:
Valuer General

FILE NUMBER(S): 30010; 30153 of 2008

CORAM: Biscoe J

KEY ISSUES: Valuation of Land :- heritage restricted land - s 14G Valuation of Land Act 1916.

LEGISLATION CITED: Central Sydney Local Environmental Plan 1996
Heritage Act 1977, s 123, Pt 6 Div 6
Land and Environment Court Act 1979, s 57(1)
Sydney Local Environmental Plan 2005
Valuation of Land Act 1916, ss 4, 6A, 14A(1), 14B(1), 14G, 29(3A), 37(1), 40(1), 40(2), 48, 62

CASES CITED: Adelaide Clinic Holdings Pty Ltd v Minister for Water Resources (1988) 65 LGRA 410
Broken Hill Pty Co Ltd v Municipal Council of Broken Hill (1925) 37 CLR 284
Commonwealth Custodial Services Ltd v Valuer-General of New South Wales [2006] NSWLEC 775
Commonwealth Custodial Services Ltd v Valuer General [2007] NSWCA 365, (2007) 156 LGERA 186
Commonwealth Custodial Services Ltd as Trustee for the Burwood Trust Fund v Valuer General [2006] NSWLEC 400, (2006) 148 LGERA 38
Krisgay Pty Ltd v Valuer-General [2007] NSWLEC 600, (2007) 159 LGERA 29
Longreach Capital Pty Ltd v Valuer-General [2007] NSWLEC 721
Spencer v The Commonwealth [1907] HCA 82, (1907) 5 CLR 418
Trust Company of Australia Ltd v Valuer-General [2007] NSWCA 181, (2007) 154 LGERA 437

DATES OF HEARING: 29-31 October 2008, 5 November 2008

DATE OF JUDGMENT:
28 November 2008

LEGAL REPRESENTATIVES:
APPLICANT:
Mr M Craig QC and Mr M Seymour
SOLICITORS:
Mallesons Stephen Jaques
RESPONDENT:
Mr J Maston
SOLICITORS:
Crown Solicitor's Office (NSW)

JUDGMENT:

THE LAND AND
ENVIRONMENT COURT
OF NEW SOUTH WALES

BISCOE J

28 November 2008

30010 of 2008

COMMONWEALTH CUSTODIAL SERVICES LTD v VALUER GENERAL

30153 of 2008

COMMONWEALTH CUSTODIAL SERVICES LTD v VALUER GENERAL

JUDGMENT

1 HIS HONOUR: These are merit appeals against valuations of heritage restricted land by the Valuer General under the Valuation of Land Act 1916 as at 1 July 2005 and 1 July 2006. The applicant, Commonwealth Custodial Services Ltd, is the owner. Located on the corner of Martin Place and Pitt Street, Sydney, and known as 120 Pitt Street, the heritage restricted land is Lot 120 in DP 882436 within the Sydney central business district (the Land). The Land has an area of 3,347 m². For many years there has been erected upon the Land a substantial building known as the Commonwealth Bank building. More colloquially, the building is known as “the Moneybox” because it is the building depicted on steel moneyboxes distributed by the Commonwealth Bank of Australia to children after 1922.

2 Each year, the Valuer General is required to ascertain the land value of each parcel of land in New South Wales (with some prescribed exceptions) as at 1 July: s 14A(1) and s 14B(1) Valuation of Land…

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: [2008] NSWLEC 310
Decision Date: 28 November 2008

CaseChat Overview and Summary

Commonwealth Custodial Services Ltd, the owner of a heritage restricted property located at 120 Pitt Street, Sydney, appealed the valuations of the property by the Valuer General under the Valuation of Land Act 1916. The Land and Environment Court was required to decide whether the valuations assigned by the Valuer General were too high. The Court assessed the value of the land under the assumptions that the land was not heritage restricted and that the improvements on the land, other than land improvements, had not been made. The Court also considered the difference in rental income between a hypothetical new, modern building on the land and the Moneybox, the existing building on the land, to determine the impact of heritage restrictions on the land. After evaluating the evidence presented by both parties, the Court found that the valuations assigned by the Valuer General were too high and determined the land value under s 14G of the Valuation of Land Act 1916 as $35,563,000 at 1 July 2005 and $36,260,000 at 1 July 2006. The appeals were allowed, and the orders of the Court were to determine the land value as mentioned above and return the exhibits.

Orders