Australand Industrial No. 111 Pty Limited v Valuer General [2014] NSWLEC 1255

Land and Environment Court New South Wales

Medium Neutral Citation: Australand Industrial No. 111 Pty Limited v Valuer General [2014] NSWLEC 1255 Hearing dates: 14, 15, 16, written submissions 24 and mention 31 October 2014 Decision date: 09 December 2014 Before: Dixon C Decision: At paragraph [111] Catchwords: Valuation of Land; - land value - highest and best use of the land - extremely high value ecological land due to the presence of flora and fauna protected under the Threatened Species Conservation Act 1995 - whether the land is ineligible as a biobanking site due to covenant on title and the operation of The Threatened Species Conservation (Biodiversity Banking) Regulation 2008 Regulation 11 - whether land with a highly restrictive zoning and use potential does have an underlying market value Legislation Cited: Threatened Species Conservation Act 1995 Land Acquisition (Just Terms Compensation) Act 1991 Valuation of Land Act 1916 State Environmental Planning Policy Western Sydney Employment Area 2009 The Threatened Species Conservation (Biodiversity Banking) Regulation 2008 Cases Cited: Adelaide Clinic Holdings Pty Ltd v Minister for Water Resources (1988) 65 LGRA 410 Barber v Valuer General (1969) LGRA 490 Chaudry v Liverpool City Council [2008] NSWLEC 251CSR v Valuer General (1977) Commonwealth Custodial Services v Valuer General [2006]148 LGERA Holcim (Australia) Pty Ltd v Valuer General [2009] NSWLEC 225 Marroun v RMS [2012] NSWLEC 199 Randwick Municipal Council v Valuer - General (1960) 5 LGRA 387 Royal Sydney Golf Club v Federal Commissioner of Taxation (1955) 91 CLR 610 Spencer v Commonwealth (1907) 5 CLR 418 Tetzner v Colonial Sugar Refining Co Ltd AC [1058] 50 Trust Company of Australia Ltd v Valuer General [2007] NSWCA 181 Valuer-General v New South Wales Golf Club [2012] NSWCA 355 West Australian Planning Commission v Arcus Shopfitters Pty Ltd [2003] WASCA 295 Category: Principal judgment Parties: Australand Industrial No. 111 Pty Limited (Applicant)