Real Estate

The valuer general of Victoria has told the High Court that a property in Melbourne's CBD should be valued at $6.2 million rather than $2.9 million, despite a heritage constraint on development. 

Tasmanian Ports had a right to kick wood pellets manufacturer Resources Australasia off leased property after it erected an awning structure without permission, a court has found.

Developer Schofields has won $20 million from the New South Wales government after the state failed to provide an easement or road access to land it owned for more than two years after acquiring a neighbouring lot. 

US property firm Greystar is acquiring a portfolio of student accommodations worth $1.6 billion, one of the largest deals of its kind in the Australian market. 

Commercial tenants of Quest Dockland’s Bourke Street apartment complex have filed proceedings against 45 landlords, claiming their requests for rent relief during the COVID-19 pandemic were ignored. 

Real estate company Flemington Properties has won $5 million from Ausgrid in a commercial rent dispute, with a judge finding the state corporation was effectively asking the court to rewrite the parties’ agreement.

The owners of luxury fashion department store Harrolds are facing a $10 million lawsuit over alleged unpaid rent on the business' flagship Collins Street store in Melbourne.

Budget supermarket Aldi has won its appeal of a tribunal decision which found that upper limits on rental increases fell afoul of the Retail Leases Act.

Tokyo-based Sumitomo Corporation has taken its first step into the Australian residential market, partnering with developer Mirvac on a housing development in Sydney’s northwest that is expected to generate $830 million in sales.

Property investment giant Charter Hall Group has completed one of the largest green loan transactions in Australia’s real estate sector, securing $3.35 billion in green loan facilities for its office building fund.