Real Estate

A class action on behalf of Sydney homeowners who allege their homes are sinking into the ground has settled for $18 million, with a judge hearing numerous group members will not receive a payout.

Growthpoint Properties has agreed to sell its Woolworths distribution centre at Perth Airport to Western Australian developer Hesperia for $267.7 million.

One of the entities behind the $1.2 billion redevelopment of the Mandarin Centre in Chatswood, Sydney has launched proceedings against its former business partner, alleging it acted in breach of its good faith obligations when it agreed to buy out its stake.

A judge has declined to block a solicitor from representing that a new conveyancing firm, which aims to help real estate agents comply with AML/CTF obligations by holding property deposits, is operating an illegal business model.

The co-founder of failed property group Stellar says his prominent Morninton Pensinsula neighbour has identified no reason why he should be bound by the previous owner's acquiescence to her use of a driveway on his land.

Lendlease has sold its 50 per cent stake in two shopping centres in Perth and Brisbane to Cbus Property for around $1.3 billion. 

A Victorian solicitor guilty has been found guilty of professional misconduct for over-promising on the prospects of success of a proposed property investment class action, which was never brought.

A judge has tossed a nuisance claim by the Perth Day Hospital against its neighbour Fitness Cartel, finding its use of the property for "hypersensitive" surgery and medical procedures was not an 'ordinary use' protected by nuisance law.

The High Court has declined to review a ruling from the Victorian Court of Appeal that found domestic building insurance policies do not respond to when a defect arises, but rather to when loss or damage is suffered.

AsheMorgan principal Michael Rothner has defeated a suit by a member of the Waterhouse horseracing dynasty over the $26 million sale of a Rose Bay mansion, with a judge finding Rothner did not breach the agreement by authorising the removal of trees on a neighbouring property to improve his harbour views.