State government property aquisition value?

[GreenMedallion]

I'm not sure if many will have dealt with this before, although I have a question with regards to forced property acquisition by the NSW state government.

How does the state government determine the payout figure they will pay for a property that they intend to/will acquire? Does the state government tend to pay more than market value?

 

[Aaron_C]

No, they will pay market value for it.

 

[MaxwellSmart]

MV + Dusturbance, severance, solatium.

 

[Aaron_C]

I'll just add that in most cases the properties that any State Government would purchase is usually for road/rain works. These properties tend to be worth less than others anyway as they are next to a train track so they get good prices relatively speaking when selling to a Government.

 

[Tigerboy]

We had dealing with the Victorian government. They compulsorily acquired 2 acres. The initial valuation was considerably below what we expected. After 6 months of arguing and obtaining our own valuations, the amount offered was increased by just over 30%. So don't just accept their valuation. You've got your own.

 

[j4mesa]

hi all,

What are your negotiation tips that you can get an uplift of 30% from the original offer ?

 

[alicudi]

MV + Dusturbance, severance, solatium.

Hi

Maxwellsmart is on the right track here.

It isn't negotiation tips, it is more about knowing the law when it comes to these types of claims. It is employing a professional to make the claim based on facts and past decisions.

Check out the following and work out which principle from the following cases is relevant to your claim:

Spencer v Commonwealth (1907) 5 CLR 418

Brown Bros (Marine) Holdings Pty Ltd v NSW Land and Housing Corporation (1991) 72 LGRA 50

Bronzel v State Planning Authority (1979) 21 SASR 513 at 516

Turner Principle Turner v Minister of Public Instruction (1956) 95 CLR 245

Boland v Yates Property Corporation Pty Ltd (1999) 167 ALR 575 at [271]

Commonwealth v Arklay (1952 87 CLR 159 at 169 - 170

Pastoral Finance Association Ltd v Minister (1914) AC 1083

Commonwealth v Reeve (1949) 78 CLR 410 at 418

St John Ambulance (WA) Inc v East Perth Redevelopment Authority (2001) 11 LGERA 112

Horn v Sunderland Corporation (1941) 1 ALL ER 480 at 491

Director of Buildings and Lands v Shun Fung Ironworks Ltd (1995) 1 ALL ER 846 at 852

Commonwealth v Milledge (1953) 90 CLR 157

Best of luck, also hiring a specialist in this field is a good idea

Regards,

alicudi

 

[thatbum]

Also watching The Castle should be a vital part of your research.

 

[alicudi]

Hi

Yes Dennis Denuto would be good in this situation!

Regards,

alicudi

 

[Scott No Mates]

No he'd be totally useless. This one is compulsory acquisition by the state where as The Castle was an acquisition by a Federal body. The heads of consideration are vastly different.