BSM Holdings Pty Ltd v Valuer-General of New South Wales; Omaya Investments Pty Ltd v Valuer-General of New South Wales [2024] NSWLEC 79

Land and Environment Court New South Wales

Medium Neutral Citation: BSM Holdings Pty Ltd v Valuer-General of New South Wales; Omaya Investments Pty Ltd v Valuer-General of New South Wales [2024] NSWLEC 79 Hearing dates: 22, 23, 24, 26 April 2024, further written submissions 7, 13, 20 May 2024 Date of orders: 31 July 2024 Decision date: 31 July 2024 Jurisdiction: Class 3 Before: Pain J Decision: The Court orders: (1) In proceeding 2021/329948 (4 Clarence Street Strathfield) the appeal is upheld and the land valuation determined in the amount of $2,135,000. (2) In proceeding 2021/329950 (32 Cooper Street Strathfield) the appeal is upheld and the land value determined in the amount of $2,066,000. (3) In proceeding 2021/329949 (27 Cooper Street Strathfield) the appeal is dismissed. (4) In proceeding 2021/329951 (2 Leicester Avenue Strathfield) the appeal is dismissed. (5) In proceeding 2021/329952 (24 Leicester Avenue Strathfield) the appeal is upheld and the land value determined in the amount of $1,250,000. Catchwords: APPEAL – land valuation appeals – whether land values of multiple lots in Strathfield triangle too high – comparable sales selection in light of agreed valuation method – adjustment of comparable sales Legislation Cited: Environmental Planning and Assessment Act 1979 (NSW), s 7.11 Valuation of Land Act 1916 (NSW), ss 6A, 37, 40 Canada Bay Local Environmental Plan 2013 (NSW) State Environmental Planning Policy (Infrastructure) 2007 (NSW), cll 86, 87 Cases Cited: Al Maha Pty Ltd v Huajun Investments Pty Ltd (2018) 365 ALR 86; [2018] NSWCA 245 Capuano v Roads and Maritime Services [2018] NSWLEC 59 Challenger Property Asset Management Pty Ltd v Stonnington City Council (2011) 34 VR 445; [2011] VSC 184 Housing Commission of NSW v Falconer [1981] 1 NSWLR 547 Kenny and Good Pty Ltd v MGICA (1992) Ltd (1999) 199 CLR 413; [1999] HCA 25 Leice Pty Ltd v City of Canada Bay Council [2021] NSWLEC 1627 Maurici v Chief Commissioner of State Revenue (2003) 212 CLR 111; [2003] HCA 8 Melwood Units Pty Ltd v Commissioner of Main Roads [1979] AC 426 Royal Sydney Golf Club v Federal Commissioner of Taxation (1955) 91 CLR 610; [1955] HCA 13 Spencer v Commonwealth (1906) 5 CLR 418; [1907] HCA 82 The Trust Company Ltd v Minister Administering the Crown Lands Act 1989 (2012) 211 LGERA 158; [2012] NSWLEC 73 Texts Cited: A Hyam, The Law Affecting Valuation of Land in Australia (6th ed, 2020, Federation Press) Macquarie Dictionary (online ed, accessed July 2024) Category: Principal judgment Parties: BSM Holdings Pty Ltd (Applicant, 2021/329948-49, 329951-52) Omaya Investments Pty Ltd (Applicant, 2021/329950) Valuer-General of New South Wales (Respondent) Representation: Counsel: T S Hale SC (Applicants) L Waterson (Respondent)