Real Estate

Johns Lyng Group confirmed Wednesday it had received a takeover offer from Pacific Equity Partners for an undisclosed sum and has granted the private equity firm an exclusivity period to undergo due diligence.

The Valuer-General of Victoria has won a High Court appeal against developer WSTI Properties over a $2.9 million valuation for a heritage property in Melbourne, which centred on the meaning of an “improvement” to the land. 

Entertainment giant EVT has put its landmark Sydney CBD Event Cinemas complex on the market.

Multinational real estate services and investment giant CBRE will acquire privately-owned commercial real estate agency Burgess Rawson.

The owners of land acquired to build the Mordialloc Freeway have lost a bid for $52.8 million in compensation, with an appeals court affirming that they are only entitled to $2.24 million because of prior compensation paid on the land.

Property investment manager and developer Centennial has scooped up an A-grade office tower in Adelaide's Pirie Street precinct for $50.5 million.

Global entertainment giant Live Nation has acquired a Perth warehouse which it promises to transform into a world-class live music venue in about a year. 

The owner of an Engadine site being developed into an apartment complex has been sued by the project's builder, who seeks over $2 million in allegedly unpaid progress payments as well as damages for breach of contract. 

A class action by investors in a Melbourne apartment develpment has resolved for $2.6 million, but the law firm bringing the case will take a haircut on its fees after group members ignored calls to contribute to the costs.