Australia: Propety & Projects - What's News - 13 May 2013

Last Updated: 17 May 2013

In the media – National

Trust sector gets on a roll
The search for higher-yielding investments by cashed-up super funds and overseas buyers has led to strong gains for the real estate investment trusts sector in the past month. The weight of money flowing into the property market has also triggered a round of sales, with more forecast in the lead-up to the end of the financial year (04 May 2013) More...

Emerging markets driving retail development
Shopping centre development has increased by 15 per cent globally for two years running, with 32 million sqm of space currently under construction. CBRE says this emerging market trend can be attributed to a number of factors, including a growing middle class, urbanisation, and consumer demand for better quality retail (29 April 2013) More...

In the media – Victoria

A fairer way to fund Victoria's fire services
Treasurer Michael O'Brien announced further detail on how Victoria's fairer Fire Services Property Levy will apply to properties following the abolition of the insurance-based levy and the unfair 'tax on tax' arrangements (02 May 2013) More...

Coalition Government reforms PPP policy to support infrastructure growth
Treasurer Michael O'Brien announced significant reforms which will see the next phase of public private partnership (PPP) projects deliver high-quality infrastructure and services for Victorians (02 May 2013) More...

Boundary to protect farms
The Victorian Government has revealed the move as part of its plan to protect prime farmland being swamped by urban sprawl. This will also include a new statewide "agricultural production overlay" to protect farms from development (24 April 2013) More...

In the media – New South Wales

Western Sydney leads industrial charge
Western Sydney is leading the field in terms of industrial leasing activity, according to a new study by Savills Research. Approximately 1.28 million sqm of industrial space (greater than 500sqm) was leased in Sydney in the 12 months to March 2013 – nearly double that recorded in the previous year (29 April 2013) More...

In the media – Queensland

Big Savings Through Energy Efficiency Improvements
An independent review has found the Australian Government's Energy Efficiency Opportunities (EEO) program is saving participants millions of dollars in energy costs each year (03 May 2013) More...

Planners in Push for New Urban Deal
Funding a backlog of more than $500bn in infrastructure requirements for our cities is paramount to ensuring Australia meets emerging urban challenges and secures city liveability in the future, according the Planning Institute of Australia (PIA) with the launch of a plan calling for leadership and investment in infrastructure requirements that make cities work (02 May 2013) More...

Airport Investment Increasing Amenity & Capacity
A new report from the Australian Competition and Consumer Commission (ACCC) has found Australia's five largest airports were all rated as satisfactory for overall quality of service in the 2011/12 financial year. TTF Acting Chief Executive Trent Zimmerman said airports are continually investing in improvements (30 April 2013) More...

Unit demand to stabilise
The building industry will soon see greater demand for houses as apartment dwellers move into their "next life stage", according to new research from BIS Shrapnel (29 April 2013) More...

Less red tape and easier access to water bores a win for landholders
The Newman Government has made it easier for decommissioned petroleum and gas wells to be converted into water supply bores for use by landholders (03 May 2013) More...

SEQ bulk water prices highlight Government's fight against rising cost of living
The Newman Government has announced new bulk water prices for south east Queensland (SEQ) from 1 July 2013, with an increase of less than a dollar a week for average households using 200 kilolitres of water a year (03 May 2013) More...

The Sunshine Coast joins the ranks
Sunshine Coast Regional Council has joined an increasing number of local governments recognising the economic significance of the property industry through the implementation of investment incentive programs. SCRC's 'Build and Benefit' program offers up to a 50% reduction on Council infrastructure charges for targeted developments (02 May 2013) More...

Government to partner with industry for healthy Gladstone Harbour
The Newman Government has announced it is prepared to commit $4 million over the next two years towards the Gladstone Healthy Harbour Partnership providing industry matches its contribution (01 May 2013) More...

WWF wrong on vegetation reforms
The Newman Government has rejected claims by the World Wildlife Fund (WWF) that common sense changes to Queensland's vegetation management laws will damage the environment, stating proposed changes maintained critical protection measures for vegetation adjacent to watercourses in Great Barrier Reef catchments (30 April 2013) More...

Costco development approved
The Newman Government has decided to approve the proposed multi-million dollar Costco development at North Lakes. The application was previously approved by the Moreton Bay Regional Council, but was appealed by objectors in the Planning and Environment Court (29 April 2013) More...

Mayor announces plan to rebuild Brisbane's Riverwalk
Brisbane's council has announced the successful tender for the contract to rebuild the city's Riverwalk, with John Holland Construction Group given the task of replacing the 850 metre structure (26 April 2013) More...

Daisho Group $300 million office tower development launch, 180 Brisbane
The tower at 180 Ann St is the first commercial high-rise to be built speculatively in Brisbane since the start of the global financial crisis and is scheduled for completion in the middle of 2015 (25 April 2013) More...

Landholders and Farmers support to protect the Great Barrier Reef
Landholders and farmers will be given assistance to reduce the run-off of damaging chemicals into the Great Barrier Reef, under a $200 million extension to the Reef Rescue program. Reef Rescue is a partnership between Government, farmers, indigenous owners and other land managers along the Queensland coast (24 April 2013) More...

Property development struggle hurting Queensland
Property development in Queensland has been "bumping along the bottom" and isn't likely to see any meteoric rises until job security improves and affordability issues are addressed, the The Urban Development Institute of Australia says (21 April 2013) More...

In practice and courts – Queensland

Consultation on the draft new City Plan
Consultation is currently open and Brisbane City Council will be holding various events across Brisbane during the consultation period to provide industry with an opportunity to have their say. All the details on the plan can be found here. The draft new City Plan ePlan and mapping is currently being updated in preparation for formal submissions (to be updated 06 May 2013)

Cases – Victoria

Lockwood v PSP Investments Pty Ltd [2013] VSC 10
SALE OF LAND – Amendment of plan of subdivision – Whether amendment of subdivision materially affected the lot – Whether purchaser entitled to rescind the contract – Whether purchaser entitled to repayment of deposit from vendor – Sale of Land Act 1962 (Vic) ss 9AC, 9AF. STATUTES – Interpretation – Sale of Land Act 1962 (Vic) s 9AC More...

Market Ring Write Services Pty Ltd v Dudson (Retail Tenancies) [2013] VCAT 546
Termination of retail premises lease for non-payment of rent, whether s 146 Property Law Act 1958 (Vic) applies; exercise of right of re-entry by changing locks; whether subsequent agreement allowing tenant to stay for one month a lease or licence; claim for reimbursement of outgoings paid; interest payable on security deposit; whether landlord took reasonable steps to mitigate his loss; whether daily fee for overdue rent a penalty; consideration of landlord's claim for legal costs of preparing new lease; whether landlord 'waived' right of reinstatement of premises; ss 24, 46, 47 and 51 Retail Leases Act 2003 (Vic) More...

Pettiona v Whitbourne [2013] VSC 205
CONTRACT – Sale of land – Vendor and purchaser – Failure by purchaser to complete contract – Vendor's damages – Mallet v Jones [1959] VicRp 21; [1959] VR 122 considered and distinguished. EVIDENCE – Expert opinion – Role of expert witness – Expert Witness Code of Conduct – Supreme Court (General Civil Procedure) Rules 2005 (Vic), r 44.03 More...

Cases – Queensland

Victoria Louise Black t/as Noir furniture v Victina International Projects Pty Ltd [2013] QCAT 116
RETAIL SHOP LEASE – where lease validly terminated after disclosure statement given under 7 days before possession given – where lessor demanded payment of guarantee after valid termination of lease – where lessor did not return guarantee money or unused rent – where lessor aware of basis of termination soon after event – where interest and costs awarded to tenant. Ralacom v Paradise Island Apartments (No. 2) [2012] QCAT 334, followed More...

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