The decision to revalue properties on the Kings Cross strip have been welcomed by us at Gunning. The decision made by the Valuer General to step in and respond to a change of market conditions was the right move. NSW Valuer General Simon Gilkes took advice on the changing retail conditions due to the lockout laws and revisited the land values in the area based on their effect. He also recognised that the area is rapidly changing with the two major residential developments that book end the Kings Cross strip, at the site of the Crest Hotel and the Bourbon Hotel. It is great to see that Mr Gilkes understands the property market and is willing to seek and ultimately take advice from industry experts in the form of the Land Valuation Advisory Group. His decision clearly reflects the current state of affairs on the Kings Cross strip and recognises that valuations can move in either direction. This is a great win for the Kings Cross strip and NSW.