Tuesday, June 18, 2024

Tribunal decides on Greys Ave compensation cost

A recent decision by the Land Valuation Tribunal has finalised the total amount that Auckland Council has to pay the owner of land at 149-157 Greys Ave in Central Auckland in respect of its legal and professional costs.

Land under the properties at 149 -157 Greys Ave had been acquired to allow for the CRL tunnels to pass under the site, and a restrictive covenant had been registered to protect the tunnels which placed conditions on future development.

The landowner had argued that it should be paid $17 million in compensation. However, after two decisions, the High Court determined that $858,400 was payable in compensation for the acquisition and restrictions on the future use of the site. The Land Valuation Tribunal has now determined that Auckland Council should pay approximately $800,000 for the landowner’s legal and professional costs in the Land Valuation Tribunal.

City Rail Link Limited is a Crown entity with full governance, operational and financial responsibility for delivering the City Rail Link. City Rail Link Ltd is jointly owned and funded 50/50 by the Crown and Auckland Council. These compensation costs will be paid by City Rail Link Ltd and will be funded 50/50 by the Crown and Auckland Council. 

Auckland Council Director of Infrastructure and Environment Services, Barry Potter, says the final determination made the process worthwhile from a value for money standpoint.

“Although we’d rather resolve differences with private landowners through negotiation, when the asking price is too high, we have a responsibility to follow due process and get a fairer outcome for ratepayers,” said Mr Potter.

The City Rail Link is due to open for passengers in 2026.

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