Upside Property Group Limited v Tekin [2016] NSWSC 1260

Supreme Court New South Wales

Medium Neutral Citation: Upside Property Group Limited v Tekin [2016] NSWSC 1260 Hearing dates: 5 and 6 July, 10 and 11 August 2016 Date of orders: 12 September 2016 Decision date: 12 September 2016 Jurisdiction: Equity Before: Darke J Decision: Statement of Claim is dismissed with costs. Catchwords: CONVEYANCING – Breach of contract for sale and remedies – Repudiation – Delay in completion of contract – Pursuit by parties of options in relation to property other than completion of contract – Whether conduct of purchaser amounted to repudiation of contract – Whether vendor entitled to terminate contract

CONVEYANCING – Breach of contract for sale and remedies – Repudiation by vendor – Whether purchaser ready, willing and able to complete contract at time of repudiation

REAL PROPERTY – Valuation of land – Methods of valuation – Use of offers as evidence of market value – Whether offers capable of use to establish floor in market value – Whether valuer's reasoning adequately disclosed in valuation report Legislation Cited: Uniform Civil Procedure Rules 2005 (NSW), r 14.11 Cases Cited: Australian Securities and Investments Commission v Hellicar (2012) 247 CLR 345; [2012] HCA 17 Auxil Pty Limited v Terranova [2009] WASCA 163; (2009) 260 ALR 164 Baiyai Pty Limited v Guy [2009] NSWCA 65 Blatch v Archer (1774) 1 Cowp 63; 98 ER 969 Browne v Dunn (1893) 6 R 57 Carr v JA Berriman Pty Limited (1953) 89 CLR 327 Cordelia Holdings Pty Limited v Newkey Investments Pty Limited [2004] FCAFC 48 Crawley v Short (2009) 262 ALR 654; [2009] NSWCA 410 DTR Nominees Pty Limited v Mona Homes Pty Limited (1978) 138 CLR 423 Expectation Pty Limited v PRD Realty Pty Limited (2004) 140 FCR 17; [2004] FCAFC 189 Foran v Wight (1989) 168 CLR 385 Goold v Commonwealth of Australia (1993) 42 FCR 51 Hadley v Baxendale (1854) 9 Ex 341; 156 ER 145 Henderson v Amadio Pty Limited (No 1) (1995) 62 FCR 1 Hensley v Reschke (1914) 18 CLR 452 Jones v Dunkel (1959) 101 CLR 298 Laurinda Pty Limited v Capalaba Park Shopping Centre Pty Limited (1989) 166 CLR 623 McDonald v Deputy Federal Commissioner of Land Tax (NSW) (1915) 20 CLR 231 MMAL Rentals Pty Limited v Bruning (2004) 63 NSWLR 167; [2004] NSWCA 451 Neeta (Epping) Pty Limited v Phillips (1974) 131 CLR 286 Sellars v Adelaide Petroleum NL (1994) 179 CLR 332 Sharjade Pty Limited v Commonwealth [2009] NSWCA 373 Sindel v Georgiou (1984) 154 CLR 661 Stockl v Rigura Pty Limited [2004] NSWCA 73; (2004) 12 BPR 23,151 Category: Principal judgment Parties: Upside Property Group Pty Limited (Plaintiff) Celal Tekin (Defendant) Representation: Counsel: Mr P Reynolds (Plaintiff) Mr A Cornish (Defendant)