Real Estate

A developer seeking to redevelop the site of the Hyde Park Inn has lost its bid for an extra 15 months to pay up over $95 million to the NSW branch of the RSL to settle the purchase, but a judge has handed it a win in the process for determining the final price tag for the deal.

Coombes Property Group has been awarded $200 million in compensation for Sydney Metro’s compulsory acquisition of its CBD property, despite contending it was entitled to $430 million.

Adelaide real estate group Taplin has acquired the Kurralta Park Village shopping centre from Coles, with the supermarket giant reselling the site for a $1 million profit after just 2 years. 

A hearing has gone ahead in a dispute over an aborted $30 million property dispute, with a judge rejecting Aintree Major Town Shopping Centre's bid to vacate because of its “manifestly inadequate" preparation.

Lender WholeCap has lost its bid for a “break fee” and $430,000 in legal costs billed by King & Wood Mallesons associated with a term sheet for a proposed $66.1 million loan to a Harbour Land entity.

Charter Hall has forked over $146 million for the Corio Village Shopping Centre in the Geelong suburb of Corio.

Property developer Mirvac has successfully challenged the land tax valuation of a North Sydney office block, securing a $6.25 million reduction following a conciliation conference with the Valuer General of NSW.

Real estate investment firms Dexus and Ho-Group have convinced the valuer general of NSW to knock roughly $26 million off its initial valuation of a Sydney office sold by Ho-Group last year that was used in a land tax assessment. 

Property giant Mirvac Group is in talks with a potential capital partner for its Harbourside development in Sydney, as it progresses construction on the major waterfront project.

Property investor Harry Stamoulis is reportedly in talks to buy an office tower on Melbourne's Collins Street for $200 million.