Real Estate

A landlord in eastern Melbourne has filed proceedings alleging a tenant breached its lease by converting a cafe into a smoking lounge.

Builder Devakon has been ordered to pay $120,000 to remedy defects in an apartment development in the Melbourne suburb of Malvern East, dodging the owners’ bid for damages of almost $1 million.

Real estate investment manager JY Group has acquired a 50 percent stake in the Bankstown Central shopping centre in Sydney's south-west for $318.6 million.

A developer has won an injunction to stop a builder from enforcing an adjudication decision in a dispute over a $3 million payment claim, with a judge finding it would be an abuse of process to make the developer pay.

An ASIC report into private credit has found that commercial property construction and development presents the “greatest potential risk” of impairment or credit loss, as well as being more likely to involve conflicts of interest and opaque fee arrangements. 

Developer Techin MBS has filed a lawsuit against Maddocks, claiming the law firm is liable for negligence if a contract of sale for a penthouse in Toorak with multi-millionaire Scott Shearman is not found to be binding.

An undisclosed Asian investor has acquired a Commonwealth Bank-anchored property in Sydney's south-west for $31.3 million.

German car hire company SIXT has expanded its $1.9 million case against the Darwin International and Alice Springs airports over allegedly unlawful lease agreements, alleging the Darwin airport acting unconscionably and in retaliation by serving it with a notice to vacate the airport site.

Liquidators of defunct investment firm Keystone Asset Management have won expanded freezing orders to cover property up to $158 million in the name of developer Robert Filippini and family members.

The liquidator of a company created to invest in an Adelaide building has failed in a High Court bid to reinstate a finding that the mortgage over the property was an unreasonable director-related transaction.