National Australia Trustees Ltd atf Industrial Property Trust v Valuer-General [2004] NSWLEC 324

Land and Environment Court of New South Wales

CITATION : National Australia Trustees Ltd atf Industrial Property Trust v Valuer-General [2004] NSWLEC 324 APPLICANT National Australia Trustees Ltd atf Industrial Property Trust PARTIES : RESPONDENT Valuer-General FILE NUMBER(S) : 31574 of 2003 CORAM: Talbot J KEY ISSUES: Valuation of Land :- Land Value - objector onus not discharged LEGISLATION CITED: Valuation of Land Act 1916 s 6A(1), s 37 CASES CITED: DATES OF HEARING: 16/06/2004, 17/06/2004 DATE OF JUDGMENT: 06/25/2004

APPLICANT Ms J M Jagot (Barrister) SOLICITORS Mallesons Stephen Jaques

LEGAL REPRESENTATIVES: RESPONDENT Mr G J Bartley (Barrister) SOLICITORS State Crown Solicitor's Office

JUDGMENT: IN THE LAND AND ENVIRONMENT COURT OF NEW SOUTH WALES 31574 of 2003

Talbot J

25 June 2004 National Australia Trustees Ltd atf Industrial Property Trust Applicant v Valuer-General Respondent Judgment

Introduction 1 The applicant is the owner of lot 1 DP 856215 which is an island site comprising 32,552m2 bounded by Benson Avenue, Lamerton Crescent and College Avenue within the Shellharbour City Centre and is known as Lot 1 Benson Avenue, Blackbutt ("the subject land"). 2 The subject land is in the valuation district of Shellharbour. The Valuer-General determined Land Value under s 6A(1) of the Valuation of Land Act 1916 ("the Valuation of Land Act") at the base date of 1 July 2001 in the sum of $3,600,000. Through its valuer, Angela C Parker, the Valuer-General now supports an amount of $125.00m2 to arrive at a Land Value of $4,000,000, based on sales evidence, thereby justifying the land value of the subject land at $3,600,000 on the base date of 1 July 2001.