Panori Pty Ltd atf Sleiman Property Trust v Valuer General [2023] NSWLEC 116

Land and Environment Court New South Wales

Medium Neutral Citation: Panori Pty Ltd atf Sleiman Property Trust v Valuer General [2023] NSWLEC 116 Hearing dates: 29 and 30 May 2023 Date of orders: 01 November 2023 Decision date: 01 November 2023 Jurisdiction: Class 3 Before: Duggan J Decision: See paragraph 120 Catchwords: VALUATION OF LAND – appeal against valuations by Valuer General – s 6A of Valuation of Land Act 1916 (NSW) – determination of unimproved land value – comparable sales and adjustments – appeal dismissed Legislation Cited: Valuation of Land Act 1916 (NSW) Category: Principal judgment Parties: Panori Pty Ltd atf Sleiman Property Trust (Applicant) Valuer General (Respondent) Representation: Counsel: M Astill (Applicant) R White (Respondent)

Solicitors: Mills Oakley (Applicant) Crown Solicitor's Office (Respondent) File Number(s): 2022/198561 and 2022/198590 Publication restriction: No

Judgment

Nature of proceedings 1. Panori Pty Ltd as trustee for Sliemann Property Trust (the Applicant) challenges the land value determined by the Valuer General (the Respondent) under the Valuation of Land Act 1916 (NSW) (Valuation Act) for Lot 1 in DP 842732 at 764 Parramatta Road, Lewisham (Subject Land) for the base dates 1 July 2020 and 1 July 2021 (Valuation Years). 2. I have been assisted in the hearing of this matter by Acting Commissioner Davidson. 3. Pursuant to s 6A of the Valuation Act, the Respondent determined the land value of the Subject Land in the following amounts: 1. 1 July 2020 - $4,030,000 (2020 Valuation); and 2. 1 July 2021 - $5,170,000 (2021 Valuation). 1. The Applicant made an objection to the Respondent in respect of each value. The Respondent rejected the 2020 Valuation objection but allowed the 2021 Valuation objection and determined the value in the following amount: 1. 1 July 2021 - $4,550,000. 1. The Applicant was dissatisfied with the determination of the objections and appealed pursuant to s 37(1) of the Valuation Act. The Applicant contends that the land value of the Subject Land is: 1. 1 July 2020 - $1,640,000; and 2. 1 July 2021 - $1,965,000.