Robert Croft Holdings Pty Ltd v Valuer General [2018] NSWLEC 190

Land and Environment Court New South Wales

Medium Neutral Citation: Robert Croft Holdings Pty Ltd v Valuer General [2018] NSWLEC 190 Hearing dates: 28 and 29 June 2018 Date of orders: 29 June 2018 Decision date: 23 November 2018 Jurisdiction: Class 3 Before: Molesworth AJ Decision: (1) The Applicant's appeal be dismissed.

(2) In accordance with s 40(1)(a), the Valuer General's issued land value as at the July 2015 base date of $1,680,000 not be disturbed, therefore it is confirmed.

(3) There will be no order as to costs. Catchwords: VALUATION – appeals – valuation of highly constrained waterfront site – whether highest and best use is new development or existing use – new development unlikely to be approved – highest and best use is existing residential flats – s 6A(2) of Valuation of Land Act 1916

VALUATION – appeals – direct valuation method – comparable sales largely unhelpful – uplift factors include capacity for improvements to continue existing use – s 6A(2)(b) of Valuation of Land Act 1916 – costs of development application not relevant to hypothetical exercise per s 6A(2) of that Act Legislation Cited: Conveyancing Act 1919 s 88K Environmental Planning and Assessment Act 1979 s 4.15 North Sydney Local Environmental Plan 2013 cll 6.9, 6.12 Sydney Regional Environmental Plan (Sydney Harbour Catchment) 2005 Valuation of Land Act 1916 ss 4, 6A, 29, 35B, 40 Cases Cited: Olefines Pty Ltd v Valuer-General of New South Wales (2018) 228 LGERA 407; [2018] NSWLEC 18 Olefines Pty Ltd v Valuer-General of New South Wales [2018] NSWCA 265 Valuer-General of New South Wales v Oriental Bar Pty Limited (2016) 217 LGERA 1; [2016] NSWCA 48 Valuer-General v Fivex Pty Ltd (2015) 206 LGERA 450 [2015] NSWCA 53 Category: Principal judgment Parties: Robert Croft Holdings Pty Ltd (Applicant) Valuer General (Respondent) Representation: Counsel: Mr Robert Croft (Litigant in person) Mr Scott Nash (Respondent)