ISPT Pty Ltd v Valuer General [2009] NSWCA 31

New South Wales Court of Appeal

CITATION: ISPT Pty Ltd v Valuer General [2009] NSWCA 31

HEARING DATE(S): 12 December 2008

JUDGMENT DATE: 23 March 2009

JUDGMENT OF: Allsop P at 1; Giles JA at 6; Campbell JA at 72

DECISION: Appeals dismissed with costs.

CATCHWORDS: Valuation of land - appeal against decision on a question of law - whether error in regard to comparable sales - finding sales not comparable did not involve question of law - whether "retail demographic evidence" wrongly rejected - sale found comparable subject to same demographic influences - no error in rejection - whether error in adjustment of comparable sale by not deducting "value of leases" - deduction of value of income stream from leases - or deduction of value of lease income for a letting-up period - former not required, latter did not involve a question of law.

LEGISLATION CITED: Land and Environment Court Act 1979, s 57(1)

CATEGORY: Principal judgment

AMP Henderson Global Investors v Valuer General [2004] NSWCA 264; (2004) 134 LGERA 426; B & L Linings Pty Ltd v Chief Commissioner of State Revenue [2008] NSWCA 187; Deputy Commissioner of Taxation v Gold Estates of Australia (1903) Ltd (1934) 51 CLR 509; Goode v Valuer-General (1979) 22 SASR 247; Hope v Bathurst City Council (1980) 144 CLR 1; Housing Commission of New South Wales v Tatmar Pastoral Co Pty Ltd (1983) 3 NSWLR 378; Leichhardt Municipal Council v Seatainer Terminals Ltd (1981) LGRA 409; Maurici v Chief Commissioner of State Revenue [2003] HCA 8; (2003) 212 CLR 111; CASES CITED: Melwood Units Pty Ltd v Commissioner of Main Roads (1979) AC 426; Mir Bros Unit Constructions Pty Ltd v Roads & Traffic Authority of New South Wales [2006] NSWCA 314; Roads and Traffic Authority v Mosca [2006] NSWCA 159; (2006) 146 LGERA 335; Roads and Traffic Authority of New South Wales v Peak [2007] NSWCA 66; Royal Sydney Golf Club v Federal Commissioner of Taxation (1957) 97 CLR 379; Secretary of State for Foreign Affairs v Charlesworth Pilling & Co [1901] AC 373; Spencer v The Commonwealth (1907) 5 CLR 418; Tooheys, Ltd v The Valuer-General (1925) AC 439; Yates Property Corporation Pty Ltd (in liq) v Darling Harbour Authority (1991) 24 NSWLR 156; (2006) LGERA 335;