Valuer tells auditor general water buyback price was not in line with its advice
It resulted in the department paying a record price of $2,745 per megalitre for the unreliable floodplain entitlements. It has now emerged this was not what the valuer intended and the department appears to have misinterpreted the valuation advice. Colliers’ discussion of a premium in the valuation was to guide the department if it chose to move beyond the recommended valuation of $1,500 per megalitre. Colliers provided a range of values between $1,050 and $2,300 per megalitre and discussed factors that might shift the price. Instead, the department took the top of the band and added about ...
Source: theguardian.com
