When valuing heritage-restricted land under ss 6A and 14G of the Valuation of Land Act 1916 (NSW), the s 14G(1)(b) assumption that improvements may be continued and maintained refers to the actual building in its existing condition, not a hypothetical new building. The s 6A valuation of vacant land may therefore vary according to the actual condition of the improvements. The valuation methodology may also account for the potential cost of refurbishing the existing building to achieve an optimum return.
The full text is available to signed-in members, including the 5 later cases that cite this judgment.
2 of the 5 citing cases carry a classified treatment. How each court treated it is available to signed-in members.