Sharsay Pty Ltd v Valuer-General

Land and Environment Court

New South Wales

Medium Neutral Citation:

Sharsay Pty Ltd v Valuer-General [2013] NSWLEC 181

Hearing dates:

1, 2, 3 July 2013, written submissions 11 July 2013

Decision date:

24 October 2013

Jurisdiction:

Class 3

Before:

Sheahan J and Cowell AC

Decision:

(1) The value of the applicants' land the subject of the present appeal is determined at $4,000,000.

(2) All exhibits may be returned.

(3) The question of costs is reserved.

Catchwords:

VALUATION OF LAND: objection is disallowed and appealed to the court - comparability of sales

Legislation Cited:

Valuation of Land Act 1916
Penrith Local Environmental Plan 2010
Penrith Development Control Plan 2010

Cases Cited:

Fiuggi Holdings Pty Ltd and Actively Zoned Pty Ltd v Lamrock's Legal Pty Ltd t/as Lamrock's Solicitors and Attorneys [2012] NSWSC 1388
Goold v Commonwealth (1993) 79 LGERA 407
Marroun v Roads & Maritime Services [2012] NSWLEC 199
McDonald v Deputy Federal Commissioner of Land Tax (NSW) (1915) 20 CLR 231

Texts Cited:

Alan Hyam, "The Law affecting Valuation of Land in Australia", 4th edn

Category:

Principal judgment

Parties:

Sharsay Pty Ltd and Teravarn Pty Ltd (Applicants)
Valuer-General (Respondent)

Representation:

Mr J E Robson, SC (Applicants)
Mr M Hall, and Ms C Novak, barristers (Respondent)
TressCox Lawyers (Applicants)
Crown Solicitors Office (Respondent)

File Number(s):

30742 of 2012

Judgment

Introduction

1. The two applicant companies own a property at North Penrith, as tenants-in-common in equal shares, and have appealed against the decision of the Valuer-General ("VG") to disallow an objection they made contesting a land tax assessment notice (base date 1 July 2011).

1. I heard this appeal with Acting Commissioner Cowell, and I gratefully acknowledge his assistance in its determination.

1. The court undertook a comprehensive tour of inspection of all the properties relied upon by either side (Exhibit A1). The parties' respective valuation and town planning witnesses accompanied us on that tour.

1. The valuation experts gave concurrent evidence, and were cross-examined, in the courtroom, but the planners were not required.

The Subject Site

1. The subject land is Lot 2 DP 623918, known as 2091-2099 Castlereagh Road, North Penrith, and the appeal is brought pursuant to s 37(1) of the Valuation of Land Act 1916 which provides as follows:

Any person entitled under Part 3 to object to a valuation may appeal to the Land and Environment Court if the person is dissatisfied with the Valuer-General's determination of any such objection to the valuation concerned (whether or not the person was the objector).

1. The subject land has an area of 1.965ha, and is located 2.5km north of the Penrith CBD. It lies within the General Industrial ("IN1") Zone under the Penrith Local Environmental Plan 2010 ("LEP" - Exhibit A11). The respondent's Statement of Basic Facts (Exhibit R1) notes that the subject land is flood free, and is an "inline allotment with elongated, slightly irregular rectangular shape [and] near level topography". Castlereagh Road on its frontage is a four lane main road.

1. The site is currently used for a…