Real Estate

A class action on behalf of Sydney homeowners who allege their homes are sinking into the ground has reached an in-principle settlement two weeks out from trial. 

Criminal proceedings have been lobbed against Netstrata and managing director Stephen Brell, accusing the strata management company of conflicts of interest in connection with payments from contractors.

MA Financial unit Redcape Hospitality has secured a major hotel haul, scooping up seven Hunter, NSW venues from Sam Arnaout's Iris Capital worth a reported $500 million.

An appeals court has ordered Colliers to pay a former director more than $110,000 for serving as agent on a lease at the Westfield in Sydney's CBD, which he did not receive after he left the firm in 2016.

The City of Melbourne will oppose amendments to Lendlease’s $263 million Swanston St tower due to “unacceptable impacts” on views, including overshadowing Federation Square and the Flinders Street steps. 

The Retirement Villages Act was unfit for the purpose of protecting both former residents at a Paterson Lakes retirement village and new apartment owners, who appeared to be victims of an "exploitative" scheme by former managers and operators, a court has found.

Melbourne builder Cobild has resolved a lawsuit brought against a developer arguing it must return a $497,000 bank guarantee under a contract to build a $50 million office complex.

Frasers Property has reached an agreement to offload five freehold logistics properties in Melbourne to Singapore's ESR-REIT for $288 million.

PGIM’s Real Estate Investment Group and private equity manager Assembly Funds Management have teamed up to acquire the Ed.Square Town Centre in south-west Sydney from Frasers for $248 million.

A court has heard that the CEO of collapsed developer Crown Group and an associated company owe $12 million in the company's liquidation.