Real Estate

The National Storage REIT will continue its partnership with Singaporean sovereign wealth fund GIC to invest in a second round of development assets, the ASX-listed trust said Wednesday.

Developer Castle Group can move ahead with its purchase of a block of land in south west Sydney, with a court finding that purchasers of off-the-plan lots have no present interest that can defeat Castle’s right. 

Real estate debt asset manager Madigan Capital has closed a $625 million loan to fund the development of a 580,000sqm industrial estate in Western Sydney.

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.

A bid by the parties for the court to determine legal costs in a successful case over the $55 million sale of a Queensland shopping centre has left a judge scratching his head.

A charitable trust of the late artist Martin Sharp, known for designing album cover art for Eric Clapton, can sell his $33 million home to the neighbouring Cranbrook, despite having expressed "animus" towards the prestigious private school, a judge has said.

Asset manager HMC Capital, which owns 11 private hospitals operated by embattled Healthscope, has reached a rent deferral deal with receivers and says other operators have expressed interest in taking up tenancy.

A judge has ordered a Sydney law firm to pay $427,000 to a former client after finding it drafted a defective notice in a land sale and defended proceedings that came about because of its own negligence.

Lendlease can't bring new claims in an unsuccessful fight over Campbelltown plots worth $120 million, with a judge finding it was not appropriate to allow the amendments "at this very late stage".

The liquidators of a company created to invest in a $2.2 million Adelaide property have asked the High Court to reinstate a judgment that found a mortgage that sent the company into liquidation was an unreasonable director-related transaction and could be voided.