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ARTICLE · 15 MAY 2015

Clarification on the valuation approach to contaminated land

Corrs Chambers Westgarth
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While any contamination is relevant to valuation, its effect and the need for remediation will still be a matter of fact.

AustraliaReal Estate and Construction
Louise Camenzuli
Louise Camenzuli
Jessica Crawford (Formerly With Corrs Chambers Westgarth)
Jessica Crawford (Formerly With Corrs Chambers Westgarth)
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As foreshadowed in our article last month, the NSW Land and Environment Court has now handed down its decision in Challenger Listed Investments Limited v Valuer General (No 2) [2015] NSWLEC 60 (Challenger No.2) in answer to a separate question ordered by Justice Biscoe on 3 February 2015 in Challenger Listed Investments Ltd v Valuer-General [2015] NSWLEC 7 (Challenger No.1). The separate question asked whether contamination of land is a matter to be disregarded in the determination of 'land value' under the Valuation of Land Act 1916 (Valuation Act) in circumstances where the contamination of the land has been caused by the improvements and operations on the land?

During the period between Challenger No.1 and Challenger No.2 (Challenger Proceedings), the Court of Appeal handed down Valuer-General v Fivex Pty Ltd [2015] NSWCA 53 (Fivex). Although the Fivex decision was not specifically in relation to land contamination, the Court of Appeal undertook a detailed

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