Real Estate

The owner of Northcote Shopping Centre in Melbourne has lost its bid for leave to appeal in a fight with budget supermarket Aldi over whether clauses imposing a cap on rental increases is contrary to the Retail Leases Act.

Lendlease will sell its stake in the Keyton Retirement Living Trust to Aware Super for $525 million as the property giant looks to trim its debt. 

NSW is cracking down on underquoting by real estate agents, passing a new law under which they will face penalties of up to $110,000 for engaging in the misleading practice.

The landlord of a Western Sydney commercial property has been awarded $328,000 in lost rent and outgoings after its former tenant, baked goods producer Allied Pinnacle, failed to repaint the external walls at the site.

Charter Hall has acquired the Tooronga Village Shopping Centre in Melbourne's eastern suburbs for $79 million.

A judge has refused a bid by the director of property developer Vantager to stay orders to sell his property while he appeals a decision finding him liable for a “brazen fraud” after a $45 million sale was negotiated for a Denham Court property that was only worth $10.8 million. 

HopgoodGanim has hired a lawyer from Corrs Chambers to join its real estate and development team as a special counsel in Brisbane. 

A court has found a Pelligra Group unit validly terminated leases for offices in a Melbourne CBD building rented by Birdies Mini Golf owner Stephanie Doyle after she failed to meet a deadline for agreement on floorplans.

Hall & Wilcox has hired a property and disputes lawyer and his team of three to build out its offering in Adelaide. 

Hong Kong-based private equity firm JY Group has paid $670 million to acquire a 50 per cent stake in the Westfield Marion, Adelaide's largest shopping centre, from Singapore-based Cuscaden Peak Investments.