Under the Land Acquisition (Just Terms Compensation) Act 1991 (NSW), compensation payable to a landowner for the decrease in value of retained land under s 55(f) is assessed independently of compensation paid to a lessee for disturbance losses under ss 55(d) and 59(f), even where both claims arise from the same acquisition and the parties are related companies. The subjective intentions of related parties as to the continuation of a lease are irrelevant to the hypothetical sale valuation. The assessment of decrease in value of severed land under s 55(f) is not restricted to the date of acquisition but must account for the carrying out of the public purpose, including access arrangements that are practically in place and legally obliged. The correctness of the approach in George D Angus to valuing tenant disturbance claims on the basis that the tenancy would continue indefinitely was questioned but not formally overruled.
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