NSW Caselaw
Land and Environment Court of New South Wales
CITATION : Babcock & Brown Properties Pty Ltd v Valuer-General [2005] NSWLEC 526
APPLICANT Babcock & Brown Properties Pty Ltd
PARTIES : RESPONDENT Valuer-General
FILE NUMBER(S) : 31435 of 2004
CORAM: Nott C
Valuation of Land :- land value of 25 ha site leased by IBM at Pennant Hills - use of comparable sales - adjustments to contract prices of the comparables - movement in the market between date of contract and base date - adjustments for deferred settlement KEY ISSUES: agreeement to lease or special conditions of contract - adjustments for the value of any development consent affecting the comparables - value of the existing development consent for the subject land to be included in the land value - adjustments for different features of the comparables compared with the subject land - weighting the comparables for reliability to indicate a value for the subject land - land value altered to $19950000
LEGISLATION CITED: Valuation of Land Act 1916, s 6A
Flack v Valuer-General (1952) 18 LGR (NSW) 157 at 158; Illawarra Meat (Developments) Pty Ltd v Valuer-General (Land and Valuation Court, Rath J, 10 March 1978, unreported); CASES CITED: Maurici v Chief Commissioner of State Revenue [2005] NSWLEC 20; Royal Sydney Golf Club v Federal Commissioner of Taxation (1955) 91 CLR 610
DATES OF HEARING: 8 & 9 June, 4 & 5 July and 25, 26 & 30 August 2005
DATE OF JUDGMENT: 10/04/2005
APPLICANT Mr Craig Miller, valuer and authorised agent
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