In the media
Commonwealth
Property investors lose hundreds of thousands of dollars
through unregulated real estate advice
Even though residential real estate has generally been a
strong investment for people over the past few decades as Australia
went through its biggest ever property boom, plenty of people have
lost money, especially buying off-the-plan or new developments (25
October 2019).
More...
'No-go' lending zones: Development defaults rise
in Sydney and Melbourne
Receivers and managers are preparing for an increase in
workloads as investors default on loans when pre-sales of
residential projects fail to materialise. One of the
highest-profile collapses has been the Raylan Group, but there are
more projects in the wings that are teetering on the edge,
according to receivers and managers (23 October 2019).
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Majority of new apartments worth less than purchase
price, data shows
Shaky confidence in the capital city apartment market is
hitting off-the-plan buyers hard, with a rise in the number of
newly constructed units now worth less at completion than the price
they were originally purchased for (21 October 2019).
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Victoria
Next step for the new central Dandenong
There has been strong interest from the private sector in
a mixed-use development worth up to $300 million under the Andrews
Labor Government's Revitalising Central Dandenong project.
Following the conclusion of a Request for Proposal process in 2020,
Development Victoria will work with the successful developer to
consult with the local community and businesses during the design
phase, in collaboration with the City of Greater Dandenong (24
October 2019).
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Charter Hall lodges plans for 150 Lonsdale Street
Fund manager Charter Hall has submitted a development
application for its 150 Lonsdale Street property at the eastern end
of the Melbourne CBD. "The proposed podium references the
vertical rhythm of the existing building and frames the view of the
Wesley Church (23 October 2019).
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Councillors green light $1bn Cbus tower
Melbourne City councillors have signed off on a $1
billion-plus office tower set to straddle four addresses on the
corner of Bourke and Queen streets. Super fund developer Cbus
Property first submitted plans for a 58-storey tower late last
year, before revising plans to comply with Melbourne's strict
C270 controls (16 October 2019).
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Standing up for combustible cladding owners in
Victoria
The Building Amendment (Cladding Rectification) Bill 2019,
introduced to Parliament, includes a provision to allow the State
to chase wrongdoers through the courts in cases where the State
pays for rectification costs (15 October 2019).
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NSW
The sky's the limit: Developers and councils
transforming Sydney into Manhattan
Developers are seeking to raise height limits to house
Sydney's burgeoning population and make windfall profits (20
October 2019).
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Central station redevelopment demonstrates how cities
can be shaped by transport
Around the world major transport nodes are generating
exciting urban renewal projects that lead to significant
development and the announcement of plans for redevelopment around
Sydney's Central Station is a world class example." says
Urban Taskforce (17 October 2019).
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Cases
F.J. & P.N. Curran Pty Ltd v Almond Investors Land
Pty Ltd [2019] VSCA
236
CONTRACTS – construction of contracts – rural
land – option to purchase – lease – development
works for almond farming rendered land unusable – 'crop
compensation' paid – whether crop compensation payable
under contractual documents – no entitlement to crop
compensation under contract
EQUITY – estoppel by convention – whether
representations regarding crop compensation made – evidence
that crop compensation would be paid supported by objective
circumstances and compelling inferences – no lack of clarity
or precision in evidence – representations made –
whether oral evidence of pre-contractual negotiations can found
conventional estoppel – Retirement Services Australia RSA
Pty Ltd v 3143 Victoria Street Doncaster Pty Ltd [2012] VSCA
134; (2012) 37 VR 486; Johnson Matthey Ltd v AC Rochester
Overseas Corp (1990) 23 NSWLR 190 considered –
Unnecessary to decide – representations made in continuum of
conduct between parties – mutual assumption found –
conventional estoppel found
EQUITY – equitable estoppel – promissory estoppel
pleaded as positive right to crop compensation payments –
whether promissory estoppel has defensive character only -
Saleh v Romanous [2010] NSWCA 274; (2010) 79 NSWLR 453;
DHJPM Pty Ltd v Blackthorn Resources [2011] NSWCA 348;
(2011) 83 NSWLR 728 considered – not appropriate case in
which to decide principle
LIMITATION OF ACTIONS – Limitation of Actions Act 1958 s 27
– whether payments by mistake – payments not by mistake
– conventional estoppel – any mistake discoverable by
2007 – counterclaim for repayment of crop compensation
statute-barred
Mediratta v Clark [2019] VSC
685
SALE OF LAND – contract for sale of residential land
– whether vendor breached contract – whether default
notice valid – whether contract rescinded – scope of
General Condition 22 considered – whether there should be
implied in the contract a term permitting the purchaser or his
representative to have access to the land at any time to undertake
a valuation – whether duty to cooperate existed so that the
purchaser was entitled to have access to the land to carry out
valuation just before or on the settlement day – whether the
vendor engaged in unconscientious conduct entitling the Purchaser
to relief against forfeiture of his interest in the land –
BP Refinery (Westernport) Pty Ltd v Hastings SC (1977) 180
CLR 266; Secured Income Real Estate (Australia) Ltd v St
Martins Investments Pty Ltd [1979] HCA 51; (1979) 144 CLR 596;
Simcevski v Dixon [2017] VSC 197; Ventura v
Ventura [2018] VSC 485; Mount Bruce Mining Pty Ltd v
Wright Prospecting Pty Ltd, [2015] HCA 37; (2015) 256 CLR 104;
Aussie Invest Corp Pty Ltd v Pulcesia Pty Ltd [2005] VSC
362; [2005] 13 VR 168; Legione v Hateley [1983] HCA 11;
(1983) 152 CLR 406; Stern v McArthur [1988] HCA 51; (1988)
165 CLR 489; Tanwar Enterprises Pty Ltd v Cauchi [2003]
HCA 57; (2004) 217 CLR 315; Romanos v Pentagold Investments Pty
Ltd [2003] HCA 58; (2003) 217 CLR 367; 428 Lt Bourke St
Pty Ltd v Lonsdale St Café Pty Ltd [2009] VSC 133 and
U108 Pty Ltd v Sing Fan & Ors [2010] VSC 12 referred
to
Robinson v Yarra CC [2019] VCAT
1628
Section 82 of the Planning and Environment Act 1987
– Yarra Planning Scheme; proposal for partial demolition of
existing building and construction of double storey rear extension
– C=council supports proposal but neighbour has objected and
sought review of the proposal at the Tribunal – heritage
issues; various straightforward positive attributes of the proposal
– more contentious debate on whether or not the proposal
would be an acceptable interface with the 180 St Georges Road
neighbouring property – permit issued
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
