A multimillion-dollar tussle over valuations used to calculate land tax is the latest chapter in the storied building’s history.
It is the prized harbourside block in Sydney best known for the striking brutalist building that sits atop it.
The $150 million redevelopment, completed this year, boasts 76 high-end apartments, 60 of which were sold in 2021 for a reported $405 million. The project has been divisive because of the sell-off of social housing.But the three-year renovation and restoration by award-winning architects BVN also won plaudits.
“The subject land is irregular in shape, though may best be described as triangular,” NSW Land and Environment Court Acting Commissioner Michael Davidson The company lodged objections to all four valuations. The Valuer General ultimately issued lower determinations for the three most recent years, including slashing the $155 million figure to $131 million.The company was dissatisfied with that outcome and filed appeals in the NSW Land and Environment Court.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The verdict on iconic Sydney hotel’s $70 million revampExpectations have been great that the Sofitel Wentworth’s owners should at last dig deep and restore it to its once near-supermodel status.
Read more »
The verdict on iconic Sydney hotel’s $70 million revampExpectations have been great that the Sofitel Wentworth’s owners should at last dig deep and restore it to its once near-supermodel status.
Read more »
The verdict on iconic Sydney hotel’s $70 million revampExpectations have been great that the Sofitel Wentworth’s owners should at last dig deep and restore it to its once near-supermodel status.
Read more »
Jaguar unveils controversial changes to its iconic logoClick through to see how the Apple logo first looked, as well as the evolution of other company logos.
Read more »
Jaggad’s Black Friday sale: Up to 70 per cent off iconic activewear and fashion7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Iconic radio host Ray Hadley quits 2GB radio program7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »