A recent Land and Environment Court claim brought in respect of Class 3 proceedings to determine the compensation payable for the compulsory acquisition of a leasehold interest has resulted in the determination that the applicant be awarded nil compensation taking when into consideration outstanding occupation fees, as well as an order for a non-party cost against the director of the applicant company.
In late 2016, Sydney Metro served a Proposed Acquisition Notice on UTSG Pty Ltd (“UTSG”) in respect of its leasehold interest in premises located in Park Street, Sydney, for the purposes of construction of the Sydney Metro – City and South West Project. Sydney Metro had already acquired the freehold interest in the Park Street property, and advised UTSG they required vacant possession of the property by April 2017 and that rent remained payable for occupation of the premises. Rent remained at the amount previously paid by UTSG, being $31,402 per month (plus GST of $3,140) to be paid to Sydney Metro. [...]
