Real Estate

An ASIC report into private credit has found that commercial property construction and development presents the “greatest potential risk” of impairment or credit loss, as well as being more likely to involve conflicts of interest and opaque fee arrangements. 

Developer Techin MBS has filed a lawsuit against Maddocks, claiming the law firm is liable for negligence if a contract of sale for a penthouse in Toorak with multi-millionaire Scott Shearman is not found to be binding.

An undisclosed Asian investor has acquired a Commonwealth Bank-anchored property in Sydney's south-west for $31.3 million.

German car hire company SIXT has expanded its $1.9 million case against the Darwin International and Alice Springs airports over allegedly unlawful lease agreements, alleging the Darwin airport acting unconscionably and in retaliation by serving it with a notice to vacate the airport site.

Liquidators of defunct investment firm Keystone Asset Management have won expanded freezing orders to cover property up to $158 million in the name of developer Robert Filippini and family members.

The liquidator of a company created to invest in an Adelaide building has failed in a High Court bid to reinstate a finding that the mortgage over the property was an unreasonable director-related transaction.

Fresh guidance by the peak legal body in NSW in response to major developments in climate law impacts lawyers advising on real estate deals, who face potential negligence claims for failing to warn clients of the emerging risks.

Sydney developer Fortis has snapped up a vacant site in Brisbane for $37.5 million for a planned residential development.

Victoria's student housing pipeline has surpassed NSW, but most projects are still at the approval stage, according to a Property Council report which expressed concerns the state's land taxes are slowing development.

The real estate division of investment bank Macquarie has made its foray into the land lease industry, with a plan to deliver thousands of homes on Australia's east coast through a new platform.