Construction PRO

A Western Sydney developer must make good on an agreement to buy a rezoned greenfield site in regional NSW for $70 million and pay $2.2 million in interest, a judge has found. 

Specialist property and finance lawyer Emile McPhee has joined Hamilton Locke's national real estate markets team.

A judge has stayed engineering firm Clough’s $54 million cross-claim against its former joint venture partner on the EnergyConnect transmission project, Elecnor, saying the claim must be sent to arbitration.

Turning back to counsel on rising from the bench after an urgent hearing in a dispute between Dexus and the operator of Melbourne airport, Justice James Stevenson told them what his impending retirement would mean.

The date has been set for a court battle over Dexus' sale of shares in Asia Pacific Airport Corporation, a fight the operator of Melbourne and Launceston airports says needs 10 hearing days.

Brookfield has shed 23.2 per cent of the stapled securities in major coal exporter Dalrymple Bay Infrastructure, but remains the major shareholder, retaining a 26.25 per cent interest in the venture. 

Private credit supporting Australian real estate could grow by 80 per cent over the next five years, largely fueled by increased residential development lending, according to forecasting by CBRE.

After describing the $836 million project for a new Sydney Fish Market as “an architecturally designed death knell to the NSW seafood industry”, the market operator has mostly lost its application to make Infrastructure NSW hand over 100 project documents.

While parts of the business have been placed in administration, Roberts Co has been selected as development manager and early contractor for a project on Sydney's Macquarie Street.