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Inside track: Property & Real Estate

05 October 2021

#Property, Planning & Development

Inside track: Property & Real Estate

In the media

Commonwealth

Only vaccinated shoppers should be allowed in malls, says Solly Lew
The head of one of Australia’s largest retailers has called on shopping centre owners and federal and state governments to ban unvaccinated shoppers from malls around the country to protect staff and customers (23 September 2021).  More...

Federal government urged to intervene with states on stamp duty
An inquiry into housing affordability has heard states should be incentivised by the federal government to scrap stamp duties, which can add tens of thousands of dollars to house prices (17 September 2021).  More...

$7 million for recycling in regional and remote Australia
The Morrison Government has announced $7 million for recycling in regional and remote Australia as it continues to create jobs and help our environment by turbocharging Australia’s waste and recycling industry (14 September 2021).  More...

Home APS news work-at-home research finds it could overstay
The Productivity Commission has released a research paper predicting that many Australians will continue to work from home after the COVID-19 pandemic is over. It also considers what an increase in working from home might mean for workplace regulation, urban centres and wellbeing more generally (16 September 2021).  More...

Victoria

$80 million in regional housing funding up for grabs
The Victorian Government is calling on all developers and landowners in regional Victoria to put forward any developments or vacant land that could be turned into social or affordable housing (23 September 2021).  More...

Luxury apartments to tower above Chapel Street’s Jam Factory
Four luxury apartment towers – the highest rising 25 levels – will rise above Chapel Street’s famous Jam Factory as part of a new $1.5 billion proposal for the historical South Yarra retail landmark (22 September 2021).  More...

Victoria to pursue 7-star energy efficiency vision
An assessment of proposed national energy efficiency standards for new homes released understates the health, climate and energy benefits of moving to 7-star building standards. To ensure Victorians get the benefit of lower power prices and more comfortable homes, the Victorian Government will continue to pursue its Climate Change Strategy, which improves energy efficiency standards to slash emissions, reduce costs and increase comfort (20 September 2021).  More...

Community encouraged to get involved in Junction Place 
Development Victoria and Central Place remain committed to delivering an outstanding development for the community of Wodonga and have confirmed that a cinema remains a key priority for the site (15 September 2021).  More...

Local councils in Victoria investigate mandatory net zero carbon buildings, but that’s not all
If you want to build a house or building in certain Victorian locations, you may soon be obliged to meet mandatory net zero targets, thanks to the dedicated work of an alliance of councils in the state (15 September 2021).  More...

NSW

Government Developer Contributions Bill: Community and council futures at stake
NSW Government’s planned rule changes to developer contributions threaten community infrastructure and financial viability of councils (16 September 2021).  More...

Queensland

Siera Group plots maiden Gold Coast project
Brisbane-based developer Siera Group has lodged plans for its maiden development on the Gold Coast, a $75-million apartment tower on Chevron Island. Leaning into the work-from-home phenomenon, the development will also include a 70sq m private office space (21 September 2021).  More...

James Street’s civic-theming to be expanded with new proposal
A new development application by Brisbane-based Forme has been submitted which will expand James Street towards New Farm and continue the popular retail high street’s unique subtropical architecture (20 September 2021).  More...

Developer files 28-storey Chevron Island tower plan
A private developer has lodged plans for a residential tower on Chevron Island, a suburb currently awash with high-rise development as the booming local property market continues to gather pace (17 September 2021).  More...

Real estate agent ordered to pay more than $22,000
A property management company has been fined $10,000 and ordered to pay compensation of $12,360 to consumers who were out of pocket after being charged for services they didn’t want and which they hadn’t authorised, for breaches of the Property Occupations Act 2014 and the Agents Financial Administration Act 2014 (17 September 2021).  More...

The Spit’s last beachfront development site hits the market
A golden opportunity to develop the last beachfront site on The Spit is expected to draw international interest from development companies, and form part of Queensland’s economic recovery (16 September 2021).  More...

Developer lodges plans in ‘undervalued’ Mermaid Beach
Melbourne developer Hirsch and Faigen is moving ahead with plans for its third development on the Gold Coast as they look to take advantage of rising demand for new apartments and a looming under-supply of stock (15 September 2021).  More...

20-year Infrastructure plan to make inroads
The Department of State Development, Infrastructure, Local Government and Planning has released a detailed four-year program and a draft vision for the State’s infrastructure needs over the next two decades (14 September 2021).  More...

Office occupancy highlights ongoing CBD challenge
The Property Council’s latest office occupancy data underlines the importance of increased vaccination uptake in restoring activity levels in our city centres. The monthly survey of office landlords revealed Brisbane’s CBD office occupancy rate dropped to 60 per cent of pre-COVID levels in August (13 September 2021).  More...

Olympic Stadium prompts 181-apartment tower plan
Developers are eyeing the $1-billion Olympic Stadium redevelopment, lodging an application for 181 apartments at a corner block near Brisbane’s Gabba. The latest application identified The Gabba at the “jewel of the Games” and it's substantial refurbishments as the main driver for the development (13 September 2021).  More...

Published – articles, papers, reports

Australian Bureau of Statistics
14 September 2021 Residential Property Price Indexes: Eight Capital Cities

In practice and courts

Commonwealth

API: Valuation Protocol – Guidance for Risk Ratings during the declared “Crisis/State of Emergency”
The purpose of this Valuation Protocol is to provide guidance for Valuer Members in relation to risk rating assessments during the API declared Crisis/State of Emergency period for valuations undertaken utilising the API PropertyPRO Supporting Memorandum and those undertaken subject to the ABFI ADDENDUM Special Instructions Residential Valuation Standing Instructions for PropertyPRO Valuations Reports (16 September 2021).  More...

API: ABFI Residential Valuation Standing Instructions Version 3 coming soon
The RVI Group has conducted a review of V2.2.2 of the ABFI Residential Valuation Standing Instructions and a revised version (V3), which will come into effect on 1 December 2021 will be circulated in the coming weeks. The API education team will be creating a standing instruction training module related to RVSI V3 which will be available from 1 October 2021 (2021).  More...

GBCA: Green Star certification 2021 dates for your project
The guidelines below (based on typical time frames), specify the deadlines you’ll need to meet in order to have your project certified in time for key milestones (2021).  More...

Announcements, Draft Policies and Plans released 2021

NSW

Registrar General: eConveyancing - Lodgment Rules Version 2 now published
Version 2 of the Lodgment Rules (Rules) will replace Version 1 on 11 October 2021. All documents lodged with NSW Land Registry Services from that date must comply with the requirements set out in the Rules. The Rules are now published our Lodgment Rules page (20 September 2021).

Cancellation of CTs
Certificates of title will be cancelled and all dealings must be lodged electronically from 11 October 2021.  More...

NSW Revenue: How can a commercial tenant demonstrate that they meet the requirement to have less than $50 million in annual turnover?
To be eligible, a commercial tenant must have had, or is part of a group which had, an annual turnover of less than $50 million in the 2019/2020 financial year. This can be demonstrated with documentation such as a letter from an accountant, a tax return, BAS or other financial statements. Any other documentation that helps demonstrate eligibility will be given consideration (September 2021).  More...

Cases

Atanasovski & Anor v Huu Loi Yarra Valley Pty Ltd & Ors [2021] VSC 594
DECLARATIONS – injunctions – real property – priorities – application by purchaser for declaration that mortgagee vendor not entitled to refuse to perform settlement obligations – oral application for interlocutory injunction restraining completion of contract of sale by different purchaser under earlier contract with registered proprietor – availability of specific performance where registered proprietor has lost right to redeem mortgage – prima facie case – balance of convenience – Property Law Act 1958 (Vic) s 49 – Transfer of Land Act 1958 (Vic) ss 76, 77. 

Betts v Harman [2021] VCC 1349
Sale of land; sale by owner builder; failure to annex required insurance as provided by s137B of the Building Act 1993; whether parties contracted out of the purchaser’s entitlement to rescind; whether purchaser elected to affirm contract; whether precluded from rescission by waiver estoppel; whether time for provision of insurance material extended by terms of contract; whether purchaser’s failure to settle on time precludes purchaser from rescinding.
Sale of Land Act 1962 ; Building Act 1993

Sheridan v Australian Pacific Airports (Melbourne) Pty Ltd [No 2] [2021] VSC 593
PRACTICE AND PROCEDURE – declaratory relief – defendant sought declaration by counterclaim – defendant successful on issue at trial – plaintiffs nevertheless opposed declaratory relief – declaratory relief granted.
PRACTICE AND PROCEDURE – costs – first plaintiff obtained only nominal damages at trial – plaintiffs had served notice to admit – defendant had served offers of compromise – offers of compromise not effective – plaintiffs ordered to pay costs, but with some exclusions – Supreme Court (General Civil Procedure) Rules 2015 (Vic) rr 26.08, 35.06, 63.18.
Accordingly, I consider it appropriate to declare that: The first defendant, in its capacity as tenant, is entitled to exclude the plaintiffs from entering onto the land which it occupies under a lease from the Commonwealth of Australia entered into on or about 1 July 1997 known as Melbourne Airport for the purpose of providing commercial hire care services, unless they comply with the conditions upon which the first defendant is prepared to permit them to do so. 

Lanhai Pty Ltd v 7-Eleven Stores Pty Ltd [2021] VSC 587
INJUNCTION – application for mandatory injunction for franchisor to maintain lease with third party and to restrain termination of franchise agreement – principles to be applied – balance of convenience favoured retention of status quo. MISLEADING AND DECEPTIVE CONDUCT – availability of interlocutory and permanent injunctive relief on alleged contravention of s 18 of the Australian Consumer Law.

Bottos v CityLink Melbourne Ltd [2021] VSC 585
REAL PROPERTY – trespass – adverse possession – factual possession – intention to possess exclusively – subterranean incursion – stratification of title by adverse possession – adverse possession by tenant on behalf of landlord – acknowledgment of title – Limitation of Actions Act 1958 (Vic) ss 8, 9, 14, 18, 24, 25.
TORTS – trespass – causation – natural and probable consequence test – but for test.

Disclaimer
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.

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