CFS Managed Property Limited v Valuer-General [2016] NSWLEC 2

Land and Environment Court New South Wales

Medium Neutral Citation: CFS Managed Property Limited v Valuer-General [2016] NSWLEC 2 Hearing dates: 14-17 September 2015, 13 and 15 October 2015, 8 and 10 December 2015 Date of orders: 08 February 2016 Decision date: 08 February 2016 Jurisdiction: Class 3 Before: Pain J Decision: See par [179] Catchwords: VALUATION OF LAND – appeals – valuation of land to which heritage restriction applies – valuation of Moneybox building Martin Place Sydney – most reliable method of valuation of heritage restricted building under s 6A(1) and s 14G(1) of Valuation of Land Act 1916 (NSW) is application of sale of half interest in land Legislation Cited: Valuation of Land Act 1916 (NSW), ss 4, 6A, 14A, 14G, 40 Valuation of Land Amendment Act 2000 (NSW) Valuation of Land Amendment Act 2009 (NSW) Valuation of Land Amendment Act 2011 (NSW) Cases Cited: AMP Henderson Global Investors v Valuer General [2004] NSWCA 264; (2004) 134 LGERA 426 Broken Hill Proprietary Company Limited v Municipal Council of Broken Hill (1925) 37 CLR 284 Commonwealth Custodial Services Ltd v Valuer General [2007] NSWCA 365; (2007) 156 LGERA 186 Commonwealth Custodial Services Ltd v Valuer General [2008] NSWLEC 310 Commonwealth Custodial Services Ltd v Valuer-General of New South Wales [2006] NSWLEC 775 Graham Trilby Pty Ltd v Valuer General [2009] NSWLEC 1087 Graham Trilby Pty Ltd v Valuer-General [2008] NSWLEC 217 Gwynvill Properties Pty Ltd v Commissioner for Main Roads (1983) 50 LGRA 322 In Adam Pty Ltd v Valuer-General [2011] NSWLEC 55 Krisgay Pty Ltd v Valuer-General [2007] NSWLEC 600, (2007) 159 LGERA 29 Maurici v Chief Commissioner of State Revenue [2003] HCA 8; (2003) 212 CLR 111 Oriental Bar Pty Limited v Valuer-General [2015] NSWLEC 59 Ralph v Repatriation Commission [2006] AATA 258 Souter v Valuer-General [2008] NSWLEC 20 Spencer v The Commonwealth of Australia (1907) 5 CLR 418 Toohey's Limited v Valuer-General (1928) AC 439; (1924) 25 SR (NSW) 75 Valuer-General of New South Wales v Fivex Pty Ltd [2015] NSWCA 33; (2015) 206 LGERA 45 Valuer-General v Commonwealth Custodial Services Ltd [2009] NSWCA 143; (2009) 74 NSWLR 700 Valuer General v In Adam [2012] NSWCA 20; (2012) 211 LGERA 75 Valuer General v Fenton Nominees Proprietary Limited [1982] HCA 46; (1982) 150 CLR 160 Texts Cited: International Valuation Standards Council Technical Information Paper 2 "The Cost Approach for Tangible Assets" (2012) New South Wales Legislative Council, Parliamentary Debates (Hansard), 22 November 2011 Rawlinsons Australian Construction Handbook (28th ed 2010, 29th ed 2011, 30th ed 2012) RO Rost and GH Collins, Land Valuation and Compensation in Australia, (3rd ed, 1984) Category: Principal judgment Parties: CFS Managed Property Limited (Applicant) Valuer-General (Respondent) Representation: Counsel: Mr R Lancaster SC with Mr L Waterson (Applicant) Mr J Robson SC with Ms M Carpenter (Respondent)