Ltirm Pty Ltd v Valuer General of NSW [2024] NSWLEC 1692

Land and Environment Court New South Wales

Medium Neutral Citation: Ltirm Pty Ltd v Valuer General of NSW [2024] NSWLEC 1692 Hearing dates: Conciliation Conferences on 23 September 2024 and 9 October 2024 Date of orders: 31 October 2024 Decision date: 31 October 2024 Jurisdiction: Class 3 Before: Davidson AC Decision: The Court orders: (1) The value of the whole land legally described as Lot 24 and Lot 25 in DP 499544, known as 58 Iluka Road, Palm Beach is confirmed as $28,500,000 as at the valuing year 1 July 2023 pursuant to s 6A of the Valuation of Land Act 1916. (2) The proceedings are otherwise dismissed. Catchwords: VALUATION APPEAL – land valuer – conciliation conference – agreement between the parties - orders Legislation Cited: Land and Environment Court Act 1979, ss 19, 34 Valuation of Land Act 1916, Pt 4, ss 6A, 29, 35, 35AA, 35B, 35C, 37, 38, 39, 40 Pittwater Local Environmental Plan 2014 Category: Principal judgment Parties: Ltirm Pty Ltd (Applicant) Valuer General (Respondent) Representation: Counsel: A Hannam (Applicant) M Carpenter (Respondent)

Solicitors: Piper Alderman (Applicant) Crown Solicitor of NSW (Respondent) File Number(s): 2024/226305 Publication restriction: No

Judgment 1. COMMISSIONER: The applicant appeals the Valuer General's Determination dated 7 June 2024 pursuant to s 37(1) of the Valuation of Land Act 1916 (Valuation Act) in respect of the valuation of the land value of the property legally described as Lot 24 and Lot 25 in DP 499544, known as 58 Iluka Road, Palm Beach ("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 Applicant appeals the determination of the Valuer General made on 7 June 2024 in respect of the objection by the Applicant to the valuation of the land value of the land as of 1 July 2023.