Walker Corporation Pty Limited v Sydney Harbour Foreshore Authority

Real Property – Compulsory acquisition - Amount of compensation - Market value - Respondent acquired industrial zoned land by compulsory process under the Land Acquisition (Just Terms Compensation) Act 1991 (NSW) - Local council resisted attempts to rezone land for residential development before its acquisition - Whether effect of council's conduct on value of land should be disregarded in determining market value under s 56(1) of the Act.

Statutes – Interpretation - Land Acquisition (Just Terms Compensation) Act 1991 (NSW) - Section 56(1) of the Act defined market value - Pursuant to s 56(1)(a) any increase or decrease in the value of land caused by the carrying out of, or the proposal to carry out, the public purpose for which land was acquired was to be disregarded - Whether conduct of local council was part of proposal to carry out the public purpose for which land was compulsorily acquired by the respondent - Relevance of common law principles derived from other jurisdictions.

Words and phrases – "market value", "proposal", "scheme".

Land Acquisition (Just Terms Compensation) Act 1991 (NSW) – ss 55, 56(1)(a).