Sirius Developments Pty Ltd as trustee for the Sirius Developments Unit Trust v Valuer General of New South Wales [2024] NSWLEC 1747

Land and Environment Court New South Wales

Medium Neutral Citation: Sirius Developments Pty Ltd as trustee for the Sirius Developments Unit Trust v Valuer General of New South Wales [2024] NSWLEC 1747 Hearing dates: Conciliation Conference on 8 November 2024 Date of orders: 21 November 2024 Decision date: 21 November 2024 Jurisdiction: Class 3 Before: Davidson AC Decision: Proceedings 2024/158170 The Court orders: (1) The appeal is upheld. (2) The value of the whole land legally described as Lots 100 and 101 in Deposited Plan 264104, known as 2-60 Cumberland Street, the Rocks NSW 2000 is amended to $86,310,000 for the valuing year 1 July 2020 pursuant to s 6A of the Valuation of Land Act 1916. Proceedings 2024/158173 The Court orders: (1) The appeal is upheld. (2) The value of the whole land legally described as Lots 100 and 101 in Deposited Plan 264104, known as 2-60 Cumberland Street, the Rocks NSW 2000 is amended to $90,620,000 for the valuing year 1 July 2021 pursuant to s 6A of the Valuation of Land Act 1916. Proceedings 2024/158215 The Court orders: (1) The appeal is upheld. (2) The value of the whole land legally described as Lots 100 and 101 in Deposited Plan 264104, known as 2-60 Cumberland Street, the Rocks NSW 2000 is amended to $95,150,000 for the valuing year 1 July 2022 pursuant to s 6A of the Valuation of Land Act 1916. Proceedings 2024/296534 The Court orders: (1) The appeal is upheld. (2) The value of the whole land legally described as Lots 100 and 101 in Deposited Plan 264104, known as 2-60 Cumberland Street, the Rocks NSW 2000 is amended to $88,400,000 for the valuing year 1 July 2023 pursuant to s 6A of the Valuation of Land Act 1916. 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 State Environmental Planning Policy (Precincts—Eastern Harbour City) 2021 State Environmental Planning Policy (State and Regional Development) 2011 Category: Principal judgment Parties: Sirius Developments Pty Ltd as trustee for the Sirius Developments Unit Trust (Applicant) Valuer General of New South Wales (Respondent) Representation: Counsel: K Lindeman (Applicant) L Waterson (Respondent)