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ARTICLE · 04 OCTOBER 2017

Valuer Update: Valuation set aside - inadequate reasons

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The market rent valuation was set aside because the valuer did not provide sufficient reason as to how it was determined.

AustraliaReal Estate and Construction
Rohan Ingleton
Rohan Ingleton

When drafting a valuation, you must ensure that you provide adequate reasons for the market rent valuation amount.

In brief: As discussed in a number of seminars I have given over the past two months, in June 2017 VCAT set aside the market rent valuation in Dalmatino v Creative Laser Pty Ltd [VCAT] 875 (Dalmatino). Essentially, VCAT set aside the market rent valuation on the basis that the valuer did not provide sufficient reason as to how the valuer determined the rent.

What you need to know:

  • Section 37 (6) of the Retail Leases Act 2003 (Act) requires that the valuations contain detailed reasons for the valuer's determination and specify the matters which influenced the valuer when making the determination.

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