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Property
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
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
BuildingConstructionProperty
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
DevelopmentProperty
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
ConstructionDevelopmentPropertyTax
4 August, 2023

New state government housing tax!

Amid a housing supply and cost of living crisis, NSW Government has changed the Environmental Planning and Assessment Act introducing a new ‘Housing and Productivity Contribution’ that will immediately cost developers thousands. Undoubtedly the additional cost will be funnelled back to the purchasers. From 1 October 2023, the upfront construction…
Brett Vincent
LitigationProperty
1 June, 2023

Clawback of incentives remains an issue

The clawback of incentives and their enforceability remains a live issue with the courts treating clawback clauses as a penalty in certain circumstances.  This was recently reinforced in Alamdo Holdings Pty Ltd v Croc’s Franchising Pty Ltd (No 2) NSWSC 60 (Alamdo). In the context of commercial leasing, consideration should be given…
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