Property & Real Estate

Property & Real Estate

Property & Real Estate

Over the past year, activity levels across the Australian real estate sector have remained  high. Many developers and institutions, affected by the global financial crisis, have had to deploy novel strategies, particularly in relation to distressed real estate assets, and balance their immediate requirements with longer term needs.

On back of the global financial crisis, traditional debt funding has proved challenging, with banks requiring borrowers to meet extremely high hurdles, such as 100% pre-sales on apartment developments. In this new landscape, joint ventures or equity investors from Asia have become a common source of funds for private developers.

Corrs Chambers Westgarth’s real estate client base includes some of the leading developers in the country as well as government sector clients and statutory corporations.

Our team brings together many of Australia’s leading real estate lawyers and prides itself on having lasting client relationships with most of the top players in this sector. Our advisors co-ordinate the legal and technical analysis of potential assets, mitigate risks and ensure they achieve the most efficient and appropriate GST, stamp duty and accounting outcomes for our clients.

Our Thinking

The National Housing Finance and Investment Corporation: solid foundations or a house of cards?

A new Budget initiative aims to increase dramatically the supply of affordable housing for lower income Australians by linking the scale and tenor of the debt capital markets with the community housing sector.

More

10 ways Japanese investors can enhance Australia’s transport sector

Corrs was a guest of the Embassy of Japan at the Second Japan-Australia Infrastructure Networking Meeting in Canberra in 2017. So, where can Japanese investors add value?

More

Retail lease reforms in New South Wales: Key points for lessors and lessees

The New South Wales Government has passed amendments to the Retail Leases Act 1994 (NSW). We outline the significant changes to the Act.

More

Three needn’t be a crowd with Debt-Finance: Five points for tripartite relationships between a tenant (borrower), landlord and financier

Negotiating a tripartite agreement doesn’t need to become protracted. Here are five steps for all parties involved to consider.

More

APRA releases enhanced governance requirements for superannuation trustees

Key changes to governance requirements for superannuation trustees have been issued providing a new framework.

More

New Register of Foreign Ownership of Water Entitlements to be Established

‘Foreign persons’ will soon be required to notify the ATO of their interests in registrable water entitlements and contractual water rights, under a new bill to amend the Register of Foreign Ownership of Agricultural Land Act 2015 (Cth).

More

Early Completion and its Effect on the Contractor

This article addresses two questions related to early completion. The first is whether the contractor is entitled to complete early. The second question is whether a contractor is entitled to an extension of time where it plans to complete early and

More Download

Unchartered Territory: Trade with Iran may be an Economic Goldmine

Iran is open for business following the relief of sanctions, so where do the opportunities lie for Australian investors?

More

Arbitration: Can it assist in the development of the common law – An Australian point of view

‘Foreign persons’ will soon be required to notify the ATO of their interests in registrable water entitlements and contractual water rights, under a new bill to amend the Register of Foreign Ownership of Agricultural Land Act 2015 (Cth).

More

ANA abolition voted down – no news is good news?

A recent push to abolish Authorised Nominating Authorities may have failed but the signs are that there will be continued momentum for reform and ensuring (perceived) impartiality for adjudicators.

More

What you need to know about Victoria’s Draft Apartment Design Standards

The Victorian Government’s Better Apartments Draft Design Standards have been released with potentially significant implications for those in the development industry.

More Download

Winky Pop v Mobil: Lost Opportunities for Land Developers

A recent decision by the Victorian Supreme Court of Appeal in Winky Pop Pty Ltd v Mobil Refining Australia Pty Ltd [2016] VSCA 187 has clarified the availability of loss of opportunity damages in land contamination cases.

More Download

Plenty in reserve: Tapping into Iran’s true potential

With Federal Government lifting most sanctions against Iran, what does the country offer Australian business? Corrs partners Alan Churley and David Yates explore a nation which boasts the world’s largest gas reserves.

More

Changes to Queensland’s Land Access Regime

An overview of the evolving land access regime in Queensland and the practical effect of the changes for both landholders and resource authority holders.

More

Retail lease reforms in Queensland

The Queensland Government has passed amendments to the Retail Shop Leases Act 1994 (Qld). We outline the significant changes to the Act.

More

Relief at last from PAMDA red tape

Long overdue relief from the red tape surrounding the sale of residential property and lots in community titles in Queensland is at last on its way in the form of the Property Occupations Bill 2013.

More

Planning reform program in Western Australia - Calls for submissions

The Department of Planning is progressing the State Government’s reform program for the planning system in Western Australia with the release of three documents for public submissions:

More

Discussion Paper on planning for affordable housing in Western Australia - Calls for submissions

The Department of Planning has issued a Discussion Paper – Planning Provisions for Affordable Housing – for public submissions.

More

Did you know that you need to update your asbestos management plan and asbestos register every 5 years?

The Work Health and Safety Act 2011 and Work Health and Safety Regulations 2011 specify how asbestos is to be managed in workplaces.

More

Off the plan sales (Victoria) rescission risk - What changes to subdivision plans will “materially affect” lots?

In Lockwood v PSP Investments Ltd, the Court held that the purchaser had validly rescinded off-the-plan contracts of sale on the basis that the vendor’s amendments to the plan of subdivision materially affected the lots the subject of the contracts.

More

IGA loses test case against new Coles development

On 29 May 2013, the Western Australian Supreme Court handed down judgment in Aloi v Bertola [2013] WASC 214.

More

Proposed New South Wales stamp duty changes

An amending bill has been introduced into the New South Wales Parliament which will make significant stamp duty changes. Once enacted, some of the amendments may apply to transactions that have already been entered into.

More

NSW Government: Sale of 99 year leaseholds - Some issues that can arise

Given the current proposals by the NSW Government to release surplus commercial property by the sale of a long-term leasehold interests (usually 99 years), it is timely to consider some of the underlying issues.

More

Duty of care not owed by builder to owners corporation for defects in serviced apartments

Developers and builders should be aware of a recent case in the Supreme Court of NSW where an owners corporation failed in its attempt to sue a builder for alleged defective works in a serviced apartment scheme.

More Download

Termination of strata schemes

On 15 September 2012, NSW Fair Trading released a discussion paper entitled ‘Making NSW No.1 Again: Shaping Future Communities – Strata & Community Title Law Reform Discussion Paper’.

More

Building names - A location, a brand or both?

This article considers how building developers and owners of building management rights can use trade mark protection to protect brands established for buildings such as hotels, residential complexes and shopping centres.

More

New South Wales stamp duty changes

An amending bill has been introduced into the New South Wales Parliament which will make significant changes to the corporate reconstruction exemption provisions and introduce a specific anti-avoidance measure into the landholder duty provisions.

More

Our Thinking

The National Housing Finance and Investment Corporation: solid foundations or a house of cards?

A new Budget initiative aims to increase dramatically the supply of affordable housing for lower income Australians by linking the scale and tenor of the debt capital markets with the community housing sector.

10 ways Japanese investors can enhance Australia’s transport sector

Corrs was a guest of the Embassy of Japan at the Second Japan-Australia Infrastructure Networking Meeting in Canberra in 2017. So, where can Japanese investors add value?

Retail lease reforms in New South Wales: Key points for lessors and lessees

The New South Wales Government has passed amendments to the Retail Leases Act 1994 (NSW). We outline the significant changes to the Act.

Three needn’t be a crowd with Debt-Finance: Five points for tripartite relationships between a tenant (borrower), landlord and financier

Negotiating a tripartite agreement doesn’t need to become protracted. Here are five steps for all parties involved to consider.

APRA releases enhanced governance requirements for superannuation trustees

Key changes to governance requirements for superannuation trustees have been issued providing a new framework.

New Register of Foreign Ownership of Water Entitlements to be Established

‘Foreign persons’ will soon be required to notify the ATO of their interests in registrable water entitlements and contractual water rights, under a new bill to amend the Register of Foreign Ownership of Agricultural Land Act 2015 (Cth).

Early Completion and its Effect on the Contractor

This article addresses two questions related to early completion. The first is whether the contractor is entitled to complete early. The second question is whether a contractor is entitled to an extension of time where it plans to complete early and

Unchartered Territory: Trade with Iran may be an Economic Goldmine

Iran is open for business following the relief of sanctions, so where do the opportunities lie for Australian investors?

Arbitration: Can it assist in the development of the common law – An Australian point of view

‘Foreign persons’ will soon be required to notify the ATO of their interests in registrable water entitlements and contractual water rights, under a new bill to amend the Register of Foreign Ownership of Agricultural Land Act 2015 (Cth).

ANA abolition voted down – no news is good news?

A recent push to abolish Authorised Nominating Authorities may have failed but the signs are that there will be continued momentum for reform and ensuring (perceived) impartiality for adjudicators.

What you need to know about Victoria’s Draft Apartment Design Standards

The Victorian Government’s Better Apartments Draft Design Standards have been released with potentially significant implications for those in the development industry.

Winky Pop v Mobil: Lost Opportunities for Land Developers

A recent decision by the Victorian Supreme Court of Appeal in Winky Pop Pty Ltd v Mobil Refining Australia Pty Ltd [2016] VSCA 187 has clarified the availability of loss of opportunity damages in land contamination cases.

Plenty in reserve: Tapping into Iran’s true potential

With Federal Government lifting most sanctions against Iran, what does the country offer Australian business? Corrs partners Alan Churley and David Yates explore a nation which boasts the world’s largest gas reserves.

Changes to Queensland’s Land Access Regime

An overview of the evolving land access regime in Queensland and the practical effect of the changes for both landholders and resource authority holders.

Retail lease reforms in Queensland

The Queensland Government has passed amendments to the Retail Shop Leases Act 1994 (Qld). We outline the significant changes to the Act.

Relief at last from PAMDA red tape

Long overdue relief from the red tape surrounding the sale of residential property and lots in community titles in Queensland is at last on its way in the form of the Property Occupations Bill 2013.

Planning reform program in Western Australia - Calls for submissions

The Department of Planning is progressing the State Government’s reform program for the planning system in Western Australia with the release of three documents for public submissions:

Discussion Paper on planning for affordable housing in Western Australia - Calls for submissions

The Department of Planning has issued a Discussion Paper – Planning Provisions for Affordable Housing – for public submissions.

Did you know that you need to update your asbestos management plan and asbestos register every 5 years?

The Work Health and Safety Act 2011 and Work Health and Safety Regulations 2011 specify how asbestos is to be managed in workplaces.

Off the plan sales (Victoria) rescission risk - What changes to subdivision plans will “materially affect” lots?

In Lockwood v PSP Investments Ltd, the Court held that the purchaser had validly rescinded off-the-plan contracts of sale on the basis that the vendor’s amendments to the plan of subdivision materially affected the lots the subject of the contracts.

IGA loses test case against new Coles development

On 29 May 2013, the Western Australian Supreme Court handed down judgment in Aloi v Bertola [2013] WASC 214.

Proposed New South Wales stamp duty changes

An amending bill has been introduced into the New South Wales Parliament which will make significant stamp duty changes. Once enacted, some of the amendments may apply to transactions that have already been entered into.

NSW Government: Sale of 99 year leaseholds - Some issues that can arise

Given the current proposals by the NSW Government to release surplus commercial property by the sale of a long-term leasehold interests (usually 99 years), it is timely to consider some of the underlying issues.

Duty of care not owed by builder to owners corporation for defects in serviced apartments

Developers and builders should be aware of a recent case in the Supreme Court of NSW where an owners corporation failed in its attempt to sue a builder for alleged defective works in a serviced apartment scheme.

Termination of strata schemes

On 15 September 2012, NSW Fair Trading released a discussion paper entitled ‘Making NSW No.1 Again: Shaping Future Communities – Strata & Community Title Law Reform Discussion Paper’.

Building names - A location, a brand or both?

This article considers how building developers and owners of building management rights can use trade mark protection to protect brands established for buildings such as hotels, residential complexes and shopping centres.

New South Wales stamp duty changes

An amending bill has been introduced into the New South Wales Parliament which will make significant changes to the corporate reconstruction exemption provisions and introduce a specific anti-avoidance measure into the landholder duty provisions.