AMP Henderson Global Investors Limited and Others v Valuer General; AMP Henderson Global Investors Limited v Valuer General [2004] NSWLEC 19

Land and Environment Court of New South Wales

CITATION : AMP Henderson Global Investors Limited and Others v Valuer General; AMP Henderson Global Investors Limited v Valuer General [2004] NSWLEC 19 FIRST APPLICANT AMP Henderson Global Investors Limited (ABN 59 001 777 591)

SECOND APPLICANT 255 George Street Investment A Pty Limited (ABN 68 064 751 471)

THIRD APPLICANT 255 George Street Investment B Pty Limited (ABN 81 064 754 588) PARTIES : RESPONDENT The Valuer General

APPLICANT AMP Henderson Global Investors Limited

RESPONDENT The Valuer General FILE NUMBER(S) : 31066 of 2002; 31069 of 2002 CORAM: Cowdroy J KEY ISSUES: Valuation of Land :- challenge to valuation - methods of valuation - whether premium attaches to land because of limited availability of vacant city land - whether sales relied upon are comparable - onus of proof. Central Sydney Development Control Plan 1996 Central Sydney Heritage Local Environmental Plan 2000 LEGISLATION CITED: Central Sydney Local Environmental Plan 1992 Central Sydney Local Environmental Plan 1996, cl 32, cl 35, cl 42, Sch 1, Sch 7 Land and Environment Court Act 1979, s 69 Valuation of Land Act 1916, s 4, s 6A, s 14B, s 40(2) Crompton v Commissioner of Highways (1973) 32 LGRA 8; Daandine Pastoral Company Proprietary Ltd v Commissioner of Land Tax of the Commonwealth of Australia (1943) 7 The Valuer 299; Flack v Valuer General (1952) 18 LGRA 157; Gould and Another v Vaggelas and Others (1983-1985) 157 CLR 215; CASES CITED: Kizbeau Pty Limited and Others v WG & B Pty Limited and Another (1995) 184 CLR 281; Maurici v Chief Commissioner of State Revenue (2003) 212 CLR 111; McCathie and Others v The Federal Commissioner of Taxation (1944) 69 CLR 1; Perpetual Trustee Co Ltd v Valuer-General (2001) 115 LGERA 287; Sher v Commissioner for Main Roads (1975) 24 The Valuer 150 DATES OF HEARING: 01/12/2003; 02/12/2003; 03/12/2003; 04/12/2003; 05/12/2003; 08/12/2003 DATE OF JUDGMENT: 02/18/2004