When valuing compulsorily acquired open space land under the Just Terms Act, it is permissible to use comparable sales of residential land acquired by councils for open space purposes and to apply a discount reflecting the open space zoning. The discount rate is a matter of expert judgment and does not require a specific analytical valuation methodology. A judicial valuer may adopt the general approach and final computation of a preferred expert without endorsing each stepping stone in the expert's analysis.
The full text is available to signed-in members, including the 12 later cases that cite this judgment.
1 of the 12 citing cases carry a classified treatment. How each court treated it is available to signed-in members.