Real Estate

The ACT revenue office has lost its claim that developer Molonglo should pay $100 million to develop land held under a Crown lease, while Molonglo’s argument that the tax should be nil has also been rejected.

A Gold Coast town planner has been ordered to pay over $400,000 to a landowner who a judge found received negligent advice over a proposed subdivision.

A judge has taken ASIC to task for pleading its remitter case against Mayfair 101 Group director James Mawhinney in minute detail, but has rejected arguments the regulator ran the proceeding in an “oppressive and unmeritorious” way.

The NSW Land and Environment court has approved developer Central Element's plans for its $100 million 'Lamrock Avenue' luxury residential development in Bondi Beach, following a conciliation conference with the local council.

A landlord in eastern Melbourne has filed proceedings alleging a tenant breached its lease by converting a cafe into a smoking lounge.

Builder Devakon has been ordered to pay $120,000 to remedy defects in an apartment development in the Melbourne suburb of Malvern East, dodging the owners’ bid for damages of almost $1 million.

Real estate investment manager JY Group has acquired a 50 percent stake in the Bankstown Central shopping centre in Sydney's south-west for $318.6 million.

A developer has won an injunction to stop a builder from enforcing an adjudication decision in a dispute over a $3 million payment claim, with a judge finding it would be an abuse of process to make the developer pay.

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.