Western Sydney Airport land val

Was drawn here by the Politics forum chat on the WSA land.

Been doing some work with Bref and Shirley Zang - we can’t work out the Audit Office thinking on the valuation.

1. Triangle zoning changed from ‘rural’ to ‘special purpose’ in 2008 (as shown in 2015 EIS p216 bit.ly/2G4JhKF)
2. Triangle was designated part of the airport site in Dec 2016 (Airport Plan p17 bit.ly/3cy2UqP)
3. Valuer General procedure and Land Acquisitions Act states that zoning at the time of the 2017 valuation should apply (that is ‘special purpose’ for an airport)
4. Audit Office suggests rural land use value should have applied rather than special purpose.

Doesn’t seem right...what are we missing?

 

At what date was the acquisition gazetted?

 

Good question. The purchase was registered as finalised on 30 July 2018.
The gazettal of the land as SP1 (special purpose for Commonwealth activities) took place in 2008 through the Liverpool City Council”s Local Environment Plan.

 

@Andreas Baker - neither of those dates mean much with regards to the acquisition. When was the official letter advising that the property was to be compulsorily acquired?

Once this letter has been issued, it stops all speculation on land which may or may not be acquired.

Council can rezone once it follows a process (planning proposal & rezoning application to the Minister).

The Aviation Authority issues an acquisition notice to owners.

If the notice was issued prior to rezoning, the land would be valued as rural/R? or whatever applied. If it were after gazettal of the zoning change then it'd be Special purpopes and valued as such.

 

Yes, that’s right, we were thinking the same. It doesn’t appear that there was a pre-acquisition declaration issued because it wasn’t a compulsory acquisition, so no gazettal date. However, the land was re-zoned SP1 in 2008 well before the negotiation for the land in 2017.

 

You’ve got me thinking though...Bref will know if there was a PAD - I’ll check with him and re-post.

 

Sorry for multiple posts. A pre-acquisition declaration was issued on 25 January 2018, well after the zoning moved to SP1 In 2008 and after the Airport Plan was published in Dec 2016.
Lands Acquisition Act 1989 Pre-Acquisition Declaration - Bringelly NSW

 

Any negotiation with an acquiring authority should be done with the Assistance of a valuer and solicitor to ensure that all avenues of compensation have been considered and addressed.