AMP Macquarie Pty Ltd v Valuer‑General [2022] NSWLEC 114

Land and Environment Court New South Wales

Medium Neutral Citation: AMP Macquarie Pty Ltd v Valuer‑General [2022] NSWLEC 114 Hearing dates: 30 March to 6 April and 20 April 2022 Date of orders: 21 September 2022 Decision date: 21 September 2022 Jurisdiction: Class 3 Before: Moore J Decision: See orders at [472] and [473] Catchwords: VALUATION OF LAND - appeals against statutory valuations for two valuation years - major regional shopping centre - "highest and best" use - choice between hypothetical development schemes - valuation issues arising concerning the adopted hypothetical development scheme - question of whether, on appeal, a statutory valuation can be increased - unnecessary to resolve jurisdictional question concerning increase in statutory valuation - appeal upheld concerning each statutory valuation - revised valuations substituted for issued statutory valuations - costs reserved Cases Cited: Botany Bay City Council v Premier Customs Services Pty Ltd (2009) 172 LGERA 338; [2009] NSWCA 226 Initial Action Pty Ltd v Woollahra Municipal Council (2018) 236 LGERA 256; [2018] NSWLEC 118 Maurici v Chief Commissioner of State Revenue (2003) 212 CLR 111; [2003] HCA 8 Maurici v Chief Commissioner of State Revenue (2001) 51 NSWLR 673; (2001) 114 LGERA 376; [2001] NSWCA 78 RebelMH Neutral Bay Pty Ltd v North Sydney Council [2019] NSWCA 130 Tetzner v Colonial Sugar Refining Company Ltd [1958] AC 50 Wehbe v Pittwater Council [2007] NSWLEC 827 Zhang v Canterbury City Council (2001) 51 NSWLR 589; [2001] NSWCA 167 Category: Principal judgment Parties: AMP Macquarie Pty Ltd (First Applicant) AMP Capital Funds Management Ltd (Second Applicant) Dexus Wholesale Property Ltd (Third Applicant) Valuer‑General of New South Wales (Respondent) Representation: Counsel: Mr A Galasso SC/Ms C Trahanas, barrister (Applicants) Dr S Pritchard SC/Mr R White, barrister (Respondent)