Property & Projects Archives - Page 3 of 9

Construction Development Property & Projects

9 February, 2024

Changes To The Strata Building Bond And Method Of Calculation

The Building Legislation Amendment Act 2023 (NSW) The Strata Building Bond & Inspections Scheme (SBBIS) was introduced in 2018 to provide some protection to owners’ corporations in relation to defects. On 21 November 2023, the NSW Parliament passed the Building Legislation Amendment Act 2023 (NSW) (BLA) which makes 2 significant…

Victoria Caldwell

Property & Projects

8 February, 2024

Enforceability Of Positive Covenants

Aust-One Investment Pty Ltd V New World Investments Pty Ltd NSWCA 22 Covenants that are registered on title and that ‘run with the land’ are restrictive in nature, a principle which is confirmed at common law and by statute. The general rule at common law is that the burden of…

Victoria Caldwell

Property & Projects

18 December, 2023

Case note on Young v Chief Executive Officer (Housing) [2023] HCTA 31 – an interesting case

Why is this case important? Young v Chief Executive Officer (Housing) HCTA 31 was heard in the High Court of Australia earlier this year. It is important because: The High Court ruled that a tenant's distress and disappointment due to a prolonged absence of a backdoor was compensable under statute.…

Victoria Caldwell

Construction Development Property & Projects

14 December, 2023

Ribbon Project by Greaton at Darling Harbour

Congratulations to Greaton on completion of the Ribbon project at Darling Harbour, comprising the largest W Hotel in the world, including the new redeveloped IMAX theatre experience and retail. Vincent Young lawyers is excited to have had the opportunity to have worked alongside the dedicated Greaton team on this very…

Victoria Caldwell

Property & Projects

9 October, 2023

Forfeiture of lease and relief for sublessees

A summary of Synergy Scaffolding Holdings Pty Ltd v Goodman Funds Management Australia Limited as trustee for GAI1 RPF Subtrust of the Hayesbery NSWSC 538 In this Supreme Court of New South Wales decision, the Summons filed by the Plaintiffs, the sublessees, in respect of relief sought against forfeiture of…

Vincent Young

Property & Projects

6 October, 2023

Increase in Property Related Duties – A further revenue hit

The release of the 2023-24 budget by NSW Treasurer Daniel Mookhey on September 19, 2023, marked a significant turning point in the fiscal landscape of the state projected to yield a substantial increase in revenue, estimated at nearly $1 billion over the next four years. In this article we focus…

Vincent Young

Property & Projects

22 September, 2023

Overview On Incentive Clawbacks

The effectiveness of incentive clawback provisions, whilst common in commercial leasing transactions, continues to be uncertain. Perhaps it is time to consider alternatives. See details below. Some recent cases In brief summary: Courts are open to interpreting an incentive clawback clause as potentially not being a penalty where it gives…

Vincent Young

Construction Property & Projects

14 September, 2023

Landmark Legislation Passed: Housing Australia Future Fund (HAFF) to Transform Affordable Housing Landscape

In a significant development for the property development sector, the Federal Parliament has today successfully passed the bill establishing the $10 billion Housing Australia Future Fund (HAFF), marking a significant milestone in addressing the nation's housing crisis. This ground-breaking initiative is poised to unlock unprecedented opportunities for property developers and…

Vincent Young

Development Property & Projects

28 August, 2023

What is subdivision of land?

Subdivision of land is defined under the Environmental Planning and Assessment Act 1979 (NSW) as the division of land into two or more parts that, after the division, would be obviously adapted for separate occupation, use or disposition. The division may (but need not) be effected: (a) by conveyance, transfer…

Vincent Young

Construction Development Property & Projects

23 August, 2023

NSW Government Announces Dramatic Planning Re-structure

On Friday 18 August 2023, New South Wales Premier, Chris Minns, unveiled a drastic new portfolio re-structure aimed at tackling energy challenges, climate change, environmental preservation and housing concerns. From 1 January 2024, the Department of Planning and Environment will undergo a strategic division into two new specialised Departments: the…

Vincent Young

Property & Projects

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