Real Estate

German car hire company SIXT has attacked the Darwin International airport owner's construction of their lease contract in a $1.9 million spat over the appropriate formula for rent calculations, saying it was trying to have the "best of both worlds".

A Woolworths entity must hand over documents concerning its plan to close unprofitable Big W stores in a stoush with a Brisbane shopping centre owner over an alleged breach of a 20-year lease.

Retail property group Vicinity and GIC's Ipoh have won $470,000 from a former tenant at Sydney's Galeries Shopping Centre to cover unpaid rent, damages and fitout restoration costs.

Property developer Ascot Capital has acquired a Queensland industrial portfolio from construction materials company Wagners in a $43 million leaseback deal.

Parramatta City Council has prevailed in a fight with Transport for NSW over land compulsorily acquired for the state's light rail system, with a judge finding it held a registered interest in the land. 

Star Entertainment has finalised the first stage of the sale of its stake in Queen's Wharf Brisbane, disposing of its interest in owner Destination Brisbane Consortium to its Hong Kong joint venture partners.

The bankruptcy trustee for Dyldam Developments director Sam Fayad has raised concerns about upcoming sales of property in western Sydney, saying an $8 million loan secured against the real estate may be a "sham".

The operator of the Urbanest student accommodation in Melbourne has sued Monash College for $22.2 million in damages, claiming the university breached a contract over unoccupied bed rent. 

A tribunal has dealt a blow to ASX-listed residential park owner Ingenia, ordering it to repay 50 per cent of the rent charged to residents at a Queensland park whose rent was raised by more than 26 per cent following a market review. 

US-based private equity giant Blackstone has reshuffled the leadership of its Australian real estate arm after head Chris Tynan stepped down for his role following a string of billion-dollar deals.