Lucky Tiger Pty Ltd v Valuer General [2022] NSWLEC 1667

Land and Environment Court New South Wales

Medium Neutral Citation: Lucky Tiger Pty Ltd v Valuer General [2022] NSWLEC 1667 Hearing dates: Conciliation Conference on 21 November 2022 Date of orders: 02 December 2022 Decision date: 02 December 2022 Jurisdiction: Class 3 Before: Peatman AC Decision: The Court orders: (1) The appeal is upheld. (2) The land value of the property legally described as SP48982, known as 2 Rowe Street, Eastwood NSW 2122 for the Valuing Year 1 July 2021 is determined as $7,515,000.00 in accordance with s 6A of the Valuation of Land Act 1916. Catchwords: VALUATION APPEAL – land valuer - conciliation conference – agreement between the parties – orders Legislation Cited: Heritage Act 1977 Land and Environment Court Act 1979 ss 19, 34 Ryde Local Environmental Plan 2014 Valuation of Land Act 1916 ss 6A, 37, 38, 41 Category: Principal judgment Parties: Lucky Tiger Pty Ltd ATF The Lucky Tiger Trust (First Applicant) Eastwood 88 Pty Ltd (Second Applicant) Valuer General (Respondent) Representation: Counsel: L Nurpuri (Applicant) T Poisel (Respondent)

Solicitors: Foteades Freeman Cohen (Applicant) Crown Solicitor of NSW (Respondent) File Number(s): 2022/269706 Publication restriction: No

JUDGMENT 1. COMMISSIONER: The Applicants appeal the Valuer General's Determinations dated 18 May 2022 and 13 July 2022 pursuant to s 37(1) of the Valuation of Land Act 1916 (NSW) (Valuation Act) in respect of the valuation of the land value of the property legally described as SP48982 and known as 2 Rowe Street, Eastwood NSW 2122 (the land): 1. The proceedings fall within Class 3 of the court's jurisdiction pursuant to s 19(b) of the Land and Environment Court Act 1979 (LEC Act). 2. The statutory power or function to be exercised in determining the proceedings are s 34(3)(a) of the LEC Act and s 40(1)(b) of the Valuation Act. 3. The First Applicant appeals the Determination of the Valuer General made on 18 May 2022 in respect of the objection by the First Applicant to the valuation of the land valuer of the land as of 1 July 2021. 4. The Second Applicant appeals the Determination of the Valuer General made on 13 July 2022 in respect of the objection by the Second Applicant to the valuation of the land value of the land as of 1 July 2021. 1. The land is located on the southwestern corner of Rowe Street and Ryedale Road Eastwood, 2122, within the Local Government Area of Ryde. The land: 1. Is located within the Eastwood Town Centre; 2. At the relevant date (1 July 2021) the land was zoned B4-Mixed Use pursuant to Ryde Local Environment Plan 2014 (RLEP 2014). 3. Neither RLEP 2014 nor any relevant Development Control Plan prescribed a Floor Space Ratio control. 4. The height limit under RLEP 2014 is 15.5m being a 5 storey building. 5. Under the RLEP 2014 neither the building nor the land is listed as a heritage item, nor listed within a Heritage Conservation Area. 6. Neither the land nor the building is listed on the State Heritage Register pursuant to the Heritage Act 1977. 7. The land contains a northern street frontage of 20.75 irregular metres to Rowe Street, a southern rear boundary of 20.84m, an eastern boundary frontage of 47.29m to Ryedale Road, and a western boundary of 50.29m. The site area of the land is 1018m2. 8. As at the relevant valuing year, the highest and best use of the land, assuming the land is vacant, is for a multi-level mixed use development site containing retail/commercial use to the ground level and residential units to the upper levels. The development would incorporate ancillary off-street parking, with a height limit of 15.5m which equates to a 5 storey building.