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Peter Nugent

LLB

Partner - Brisbane

Areas of Expertise

Property, Planning & Development

Contact Peter

+ 61 7 3135 0632 peter.nugent@holdingredlich.com

Expertise

Peter has broad experience in all aspects of property practice and acts, and has acted, for many of Australia’s largest private and public property developers and investors.

Peter has been listed in the 2018 to 2021 edition of Best Lawyers in Australia for Real Property Law. He is also recognised in the 2017 to 2020 edition of Doyles Guide as a recommended lawyer in Property & Real Estate Law for Queensland.  

Peter specialises in:

  • major property sales and purchases, and associated due diligence and sale preparation
  • development and joint venture agreements for retail, commercial, residential and industrial projects
  • infrastructure agreements
  • structuring master-planned developments
  • body corporate law and management rights
  • major property leasing, including managing shopping centre and commercial building leasing teams
  • managing residential property sales by developers
  • retirement villages and manufactured home parks
  • hotel developments and sales and purchases and hotel agreements.

Experience

Peter’s experience includes:

Major sale and purchase transactions for shopping centres

  • purchase and redevelopment of of Aspley Hypermarket, purchase of Brisbane Myer Centre, purchase of Chermside Shopping Centre and sale of Australia Fair Shopping Centre Southport.

Major sale and purchase transactions for office buildings

  • 60 Edward Street Brisbane, 260 Queen Street Brisbane, 300 Queen Street Brisbane, 150 Charlotte Street, Brisbane, 384 Edward Street Brisbane and Coronation Drive Office Park Milton.

General planning and development and infrastructure advice

  • negotiating legislation changes needed to resolve titling issues for Bretts Wharf Hamilton and Hope Island Resort
  • acted for the Mirvac trust in the acquisition of the Aspley Hypermarket under a sale and development agreement. The property was acquired from three vendors all variously related to the major tenant (Pick and Pay Hypermarket). The sale terms included a redevelopment and extension of the property, and the transfer of the major tenancies to the Coles Group. The vendor carried out the development for the purchaser on fund through terms
  • acted for MEPC Australia Pty Ltd in the sale of a portfolio of seven commercial buildings in one line, comprising the Coronation Drive Office Park towers and 60 Edward Street, Brisbane, to AMP. The sale process included the review of the properties in anticipation of the expression of interest campaign and purchaser due diligence, followed by the negotiation of the interdependent sale contracts and completion of the conveyance
  • acted in the sale of a half-interest five commercial office buildings in one line for Westpac, including 60 Martin Place, Sydney. The total value of the sale exceeded $250m, and comprised of three NSW properties, one Perth property, and one Brisbane property. This involved the preparation and negotiation of the five interdependent contracts and completion of the conveyances
  • acted for the project developer in the sale of the Central Park Chippendale office and hotel under interdependent contracts. Exchange took place prior to construction of the buildings at a total value exceeding $200m. The two properties are part of a mixed use development with management statements regulating the relationship between the various elements of the total development. The sale had to allow for construction of the buildings and title registration on agreed terms, and the property sales were to be separate. However, purchasers were both related and interdependent. Sale terms were provided for the lease of the commercial building and implementation of the hotel management agreements with the Starwood Group. Sale arrangements for the hotel property included the negotiation of financier deeds and the implementation by the vendor of a triple net lease structure for the ownership of the hotel business, with the lessee to be sold to the hotel purchaser are part of the sale terms
  • acted for a vendor client in the sale of a portfolio of industrial properties in Queensland, ACT and South Australia with a total value exceeding $100m. The vendor client were various subsidiary entities of the Walker Group and portfolio properties were sold to 360 Capital and Investec. Several properties in the portfolio were subject to ongoing development, therefore the sale terms included development agreements, price adjustment provisions and umbrella terms for interdependency
  • advised on the acquisition of the Marconi site in North Ryde and subsequent disposal to the Macquarie Goodman Trust. This was an agreement to lease to CSC Australia for development of their new Australian headquarters. The transaction included the put and call option to secure the site acquisition, the negotiation of the agreements with the major tenant, and the novation and development agreement with the purchaser
  • formed a development agreement between the Minister for Economic Development Queensland, Redland City Council and the Walker Group for an estimated $3b redevelopment of the Toondah Harbour at Cleveland, Queensland. This agreement included extensive preconditions in relation to approvals under the Environmental Protection and Biodiversity Conservation Act, negotiation of an Indigenous Land Use Agreement, state tenure requirements and planning approvals and provisions to control development, and financial returns and financing rights for the developer
  • acted for the Walker Group in regards to the acquisition of the office tower at 150 Charlotte St Brisbane, including development agreement terms and on-sale. The vendor was Stockland and the purchaser was CIMB (Singapore). The transaction included the negotiation of purchase terms, a development agreement for the refurbishment and lease up of the building, and negotiation of the agreement for lease for a tenant who was to occupy 80% of the floors in the building. It also included renegotiation to convert the on-sale into a direct sale from Stockland to CIMB in order to improve duty outcome.

Publications

03 June 2020 - Knowledge

Retail Shop Leases and Other Commercial Leases (COVID-19 Emergency Response) Regulation 2020

#Property, Planning & Development, #COVID-19

The Retail Shop Leases and Other Commercial Leases (COVID-19 Emergency Response) Regulation 2020 is made under the COVID-19 Emergency Response Act 2020 (COVID Act) with the purpose to implement the National Cabinet Mandatory Code of Conduct.

24 March 2020 - Knowledge

Dealing with COVID-19 as a landlord

#Property, Planning & Development, #COVID-19

COVID-19 has had a massive impact on business conditions and is radically affecting the use of business premises. In this article we look at the key issues for landlords.

10 December 2019 - Knowledge

E-conveyancing under the competition microscope

#Property, Planning & Development

The ACCC has recommended a new round of regulatory development to ensure that the PEXA e-conveyancing system does not become a monopoly.

12 November 2019 - Knowledge

Federal Court holds that a lease clause for the sale of electricity was unenforceable

#Property, Planning & Development

The National Energy Retail Law (NERL) regulates the retail sale of electricity and gas, though there are State by State changes to the application of that law.

24 September 2019 - Knowledge

Inside track: Local Government

#Local Government

Are Aboriginal objects on land potentially a defect in title? This question was discussed by the NSW Court of Appeal in Mehmet v Carter. And the short answer is: Yes, Aboriginal objects on land may be a defect in title where they are protected from disturbance under a law.

Upcoming Seminars

16 Feb 21 to 07 Dec 21

National ports program 2021

Holding Redlich is pleased to invite you to our webinar series designed for port and terminal owners and operators. These webinars will provide insights on the current trends and issues that matter to you. Now more than ever ports are vital nodes in an increasingly complex web of trade routes that span the globe. COVID 19 is forcing most of us to reconsider how we do things, and ports are no exceptions. This series will look at how Australian ports might navigate the challenges and opportunities posed by 2020, and how 2021 might be their most interesting year ever.

Register now

11 Mar 21

Strategic procurement webinar

Within this webinar we will discuss what this means in practice, the opportunities it provides and what you need to do to implement them using real life examples.

Register now

16 Mar 21

ACCC priorities for 2021 | In-house counsel CLE program

The ACCC each year announces its enforcement priorities for the coming year. This session will provide you with an overview of the key priorities for the year, highlighting industries that are a particular target for the ACCC, recent ACCC enforcement actions and proactive steps you can take in light of the ACCC’s priorities and recent enforcement action. 1 practice management and business skills CPD unit

Register now
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