Stay v Chief Executive, Department of Natural Resources and Mines

This appeal concerns the valuation of land at the corner of Brisbane Road and Pangarinda Place, Mooloolaba, in the Maroochy Shire. The appellants, Douglas W and Rosemary L Stay, have challenged the Chief Executive's valuation of the subject land at $670,000, arguing that the unimproved value should be $250,000. The primary issues for determination are the nature of the land, the comparison of sales, and the method of valuation.

The court considered the appellants' arguments regarding the declining commercial activity in the Bundilla area, the nature and quality of the subject land, and the comparison of sales. The appellants argued that the subject land was part of a declining commercial area with high vacancy rates, and that the Chief Executive's valuation was not supported by comparable sales. The Chief Executive, represented by Mr McLaren, defended the valuation by providing evidence of sales in the area and arguing that the sales evidence supported an unimproved value of $670,000.

The court found that while the capitalisation approach and Consumer Price Index (CPI) comparison provided by the appellants were not conclusive, the comparison of sales was the key factor in determining the unimproved value. The court accepted that Sales 1 to 4 supported an unimproved value of $610,000, and that there was insufficient evidence to support a change in the market since 1996. The court also noted that any uncertainties should be resolved in favour of the appellants, given the known commercial difficulties in the Bundilla area.

In conclusion, the court allowed the appeal and set aside the Chief Executive's valuation, determining the unimproved value of the subject land at $610,000. The decision was based on the comparison of sales and the lack of conclusive evidence to support an increase in the unimproved value since 1996.