Property & Real Estate
Property & Real Estate » Project Structuring & Delivery
Obtaining project finance is still tough, but as the market becomes more active it is an exciting time in the cycle to invest.
Success often depends on formulating the right deal structure with advisors able to ascertain which elements to include in a transaction and, just as importantly, having the industry expertise and experience to know which unnecessarily complex arrangements should be left out.
Corrs understands the different perspectives of government and developers. Our lawyers are skilled at bridging the divide, taking into account regulatory and legislative frameworks and devising transactions that allocate the right levels of development, construction and delivery risk and the tax outcomes sought by each party.
Our Experts
Our Experience
ING Real Estate Waterfront City Development
While ING Real Estate has development rights over Melbourne’s $1 billion Waterfront City development at Docklands, the company (like the other developers at Docklands) operates in a highly regulated environment that includes an overarching project delivery/development agreement with the State agency, VicUrban.
The complex regulatory regime also specifies that certain types of development occur within a specific timeframe.
As key advisors to ING, Corrs has facilitated successful take out deals for stages of the project with third party developers that require bringing together all parties and managing complex issues and documentation while mitigating client risk.
Corrs is also advising ING on rectification strategies, contractual restructuring and potential claims by ING and others in relation to the Southern Star Observation Wheel. The wheel closed shortly after commissioning due to significant defects, and a key challenge is to implement a rectification solution that minimises disruption to surrounding retail and residential developments.
Our Thinking
Corrs in Brief: Guideline on “call-in” of State significant development released
The Guideline sets out the basis on which the “call-in” power will operate. What does it mean for you?
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Hot property – get in quick
The Australian property market is so hot, you’re likely to be burned if you wait until you need it to look for new commercial property. It could cost you in failing to get what you need, or paying too much for it. The tips for success in a sophistica
More
Dispute or deadlock? Be prepared.
There have been a lot of lessons learned about joint venture mechanisms since the GFC. But not about deadlock procedures, even though they’re now more important than ever.
MoreCorrs In Brief: The Personal Property Securities Act 2009 (Cth) and its impact on real property transactions
The focus of our previous publications has been the impact of the Personal Property Securities Act 2009 (Cth) (the Act) on banking and finance, insolvency and construction law where the impact will be more immediate. The focus of this note is on the
MoreOur Experience
ING Real Estate Waterfront City Development
While ING Real Estate has development rights over Melbourne’s $1 billion Waterfront City development at Docklands, the company (like the other developers at Docklands) operates in a highly regulated environment that includes an overarching project delivery/development agreement with the State agency, VicUrban.
The complex regulatory regime also specifies that certain types of development occur within a specific timeframe.
As key advisors to ING, Corrs has facilitated successful take out deals for stages of the project with third party developers that require bringing together all parties and managing complex issues and documentation while mitigating client risk.
Corrs is also advising ING on rectification strategies, contractual restructuring and potential claims by ING and others in relation to the Southern Star Observation Wheel. The wheel closed shortly after commissioning due to significant defects, and a key challenge is to implement a rectification solution that minimises disruption to surrounding retail and residential developments.
Our Thinking
Dispute or deadlock? Be prepared.
There have been a lot of lessons learned about joint venture mechanisms since the GFC. But not about deadlock procedures, even though they’re now more important than ever.
Hot property – get in quick
The Australian property market is so hot, you’re likely to be burned if you wait until you need it to look for new commercial property. It could cost you in failing to get what you need, or paying too much for it. The tips for success in a sophistica
Corrs In Brief: The Personal Property Securities Act 2009 (Cth) and its impact on real property transactions
The focus of our previous publications has been the impact of the Personal Property Securities Act 2009 (Cth) (the Act) on banking and finance, insolvency and construction law where the impact will be more immediate. The focus of this note is on the
Corrs in Brief: Guideline on “call-in” of State significant development released
The Guideline sets out the basis on which the “call-in” power will operate. What does it mean for you?
Our Experts
Alan Churley
Partner Perth +61 8 9460 1660Andrew Flannery
Partner Sydney +61 2 9210 6296Daryl Clifford
Partner Brisbane +61 7 3228 9778Jay Andrews
Partner Sydney +61 2 9210 6422Nathaniel Popelianski
Partner Melbourne +61 39672 3435Paul Carrick
Partner Sydney +61 2 9210 6353Peter Calov
Partner Sydney +61 2 9210 6215Philip Wilson
Partner Perth +61 8 9460 1663