Property developer Remarkables Park (RPL) is appealing a Land Valuation Tribunal decision despite its finding the company’s been underpaid for land, known as Lot 6, by Queenstown Airport Corporation (QAC).
The 15.5ha site, which is south of the airport’s runway, was compulsorily bought by QAC in 2019, under the Public Works Act, after more than a decade of wrangling in the courts.
In the May 22 decision, the tribunal found QAC should pay RPL $44.5 million compensation for the land, effective as at November 1, 2019.
However, in a rare dissenting opinion, tribunal member Lawrence Hill said QAC should pay RPL $71.2m.
At a three-week hearing in March and April last year, RPL claimed $73.5m, while QAC valued the land at between $26.2m and $28.7m.
The airport company’s paid RPL $18.34m to date.
RPL director Alastair Porter confirms it’s filed an appeal in the High Court, but "can’t comment further as the matter’s before the courts".
A High Court spokesman confirms the QAC has not filed an appeal.
In an emailed statement to Mountain Scene, a QAC spokeswoman says it’ll “continue to act in the best interest of the company, as a majority community-owned asset".
"As the matter’s still before the courts, we’re not in a position to make any further comment at this time."
