NEW SOUTH WALES LAND AND ENVIRONMENT COURT
CITATION:
Mir and ors v Valuer General [2009] NSWLEC 1309
PARTIES:
APPLICANTS
John and Marie Mir
Mir Bros (Hollywood Creations) Pty Limited
Mir Bros Trading Pty Limited
Mirco Finance Pty Limited
Mir Bros High Rise Apartments Pty Limited
Mir Bros Industries Pty Limited
RESPONDENT
Valuer General
FILE NUMBER(S):
30129 of 2007
CATCHWORDS:
VALUATION OF LAND :- appropriateness of land values
LEGISLATION CITED:
Valuation of Land Act 1916
Environmental Planning and Assessment Act 1979
CASES CITED:
Spencer v Commonwealth (1907) 5 CLR 418
Kenny & Good Pty Ltd v MGICA (1992) Ltd (1999) 1999 CLR 413
Attard v Value General (2006) 146 LGERA 384,
Commissioner for ACT Revenue v Rosnet Pty Ltd (1994) 83 LGERA 440,
Myer (SA) Stores Ltd v Value General (1986) 60 LGERA 158
Morts Dock and Engineering Coy Ltd v The Valuer General (1923) 6 LGR 162
Pamalco Pty Ltd v Minister Administering the National Parks and Wildlife Act 1974 [No 3] 71 LGERA 441
Graham Trilby Pty Limited v Valuer General [2008] NSWLEC 217
CORAM:
Brown C
DATES OF HEARING:
29, 30 June 2009, 1, 2, 3 July 2009, written submissions 31 July 2009
JUDGMENT DATE:
24 September 2009
LEGAL REPRESENTATIVES
APPLICANT
Mr P Tomasetti SC
SOLICITORS
Storey and Gough
RESPONDENT
Mr J Maston, barrister
SOLICITORS
Valuer General
JUDGMENT:
THE LAND AND
ENVIRONMENT COURT
OF NEW SOUTH WALESBrown C
24 September 2009
30129 of 2007
APPLICANTS
John and Marie Mir
Mir Bros (Hollywood Creations) Pty Limited
Mir Bros Trading Pty Limited
Mirco Finance Pty Limited
Mir Bros High Rise Apartments Pty Limited
Mir Bros Industries Pty Limited
RESPONDENT
Valuer General
JUDGMENT
COMMISSIONER: These are appeals under s 37 of the Valuation of Land Act 1916 against the decision of the Valuer General to determine the land value of 4 parcels of land at the Base Dates of 1 July 2000 and 1 July 2003. The 4 parcels of land comprise most of the land within Lot 2 in DP 1042471 located off Clydesdale Drive and Badgally Road, Blairmount.
Lot 2 comprises a major portion of the Blairmount residential suburb. The existing developed part of the Blairmount contains largely single detached housing. This land was developed in the early 1980s.
Five parts of Lot 2 have been separately valued because they are held in separate ownership, although only 4 parts of Lot 2 are subject to this appeal. These are:
Property 1 - (Vol 13913 Fo 32) - 2.868 ha,
Property 2 - (Vol 13913 Fo 30) - 7.372 ha,
Property 3 - (Vol 13913 Fo 29) - 7.378 ha, and
Property 4 - (Vol 13912 Fo 122) - 41.538 ha.The valuations
The Valuer General’s land values are:
2000 Base Date
Property 1 - $300,000,
Property 2 - $330,000,
Property 3 - $390,000, and
Property 4 - $3,100,000.2003 Base Date
Property 1 - $1,500,000,
Property 2 - $2,850,000,
Property 3 - $2,000,000, and
Property 4 - $10,500,000.Mr Maundrell’s land values on behalf of the Valuer General…
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- Case
- [2009] NSWLEC 1309
- Decision Date
CaseChat Overview and Summary
The court found that the method of valuation should consider the potential cooperation between different property owners in developing the land, reflecting a market where buyers and sellers act rationally and in their best economic interests. The court preferred the approach of the Valuer General's expert, who considered the potential for consolidated development, over the applicant's expert, who assumed non-cooperation among owners. The court also determined that the comparable sales method was the most reliable approach to ascertain land value, given the availability of relevant sales evidence and the need for minimal adjustment.
In its reasoning, the court addressed various factors affecting the value of the properties, including the impact of riparian setbacks, the cost of necessary engineering works such as bridges and noise barriers, and the effect of nearby public housing on land values. The court found that a reasonable adjustment could be made for some of these factors, but not for others, such as the additional noise barrier proposed by the applicant's expert.
Ultimately, the court upheld the appeal, setting the land values for the four properties at the specified base dates. The orders of the court confirmed these valuations and returned the exhibits.
Orders
Orders of the court
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Background
Background to the litigation
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Evidence
Evidence Before The Court
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Decision
Reasons for decision
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Ratio Decidendi
Legal Principle Established
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