Deeds of cross-guarantee as lease security – what a landlord needs to know
We have recently seen deeds of cross-guarantee being offered up by tenants looking to provide landlords with alternative forms of security to bank guarantees, as banks tighten up lending requirements, or parent company guarantees. What is a cross-guarantee? Typically a deed of cross-guarantee is lodged by a parent company with ASIC in support of […]
ReadmoreStamp duty changes to hit residential developments in Victoria
The Victorian Government is proposing a sweeping reform of the “economic entitlement” provisions of the Victorian duties legislation. The result of the proposed changes would be to effectively bring to duty a common form of project funding and structuring used for residential developments in Victoria. Typically these transactions enable a residential developer to secure rights […]
ReadmoreDeath and taxes – one’s really going to hurt
As you will be aware, between February and May each year, the State Revenue Office issues land tax assessments for the calendar year to Victorian land owners (except where all landholding is exempt). The 2019 land tax assessment assesses landholdings owned by a land owner as at midnight on 31 December 2018. With property prices […]
ReadmoreApplication of the RLA
Just when you thought navigating Victoria’s retail legislation couldn’t get any more complicated. A recent decision of the Victorian Civil and Administrative Tribunal (VCAT) in Bulk Powders Pty Ltd v Seicon Pty Ltd (Building and Property) [2018] VCAT 2000 bucks the trend when it comes to determining the application of the Retail Leases Act 2003 […]
ReadmoreVCAT refuses proposal for a residential tower in South Yarra
VCAT has overturned the decision of the Stonnington City Council and refused an application for a twenty-two storey mixed use development in South Yarra, which would have exceeded the preferred maximum building height for the subject site by 30m. The Tribunal’s decision in C&L International Holdings Pty Ltd v Stonnington CC [2019] VCAT 69 demonstrates […]
ReadmoreLeasing Insider | NB2 Pty Ltd v P.T. Ltd [2018] NSWCA 10
In 2004, NB2 Pty Ltd (Tenant) purchased an independent fresh fruit and vegetable business operating from a premises in the Fresh Food Precinct at Westfield’s Miranda Shopping Centre (Centre). The Tenant was one of three operators selling fresh fruit and vegetables in the Centre, the others being a Woolworths supermarket (located at the opposite end […]
ReadmoreLeasing Insider | AVC Operations Pty Ltd v Teley Pty Ltd (Building and Property) – [2018] VCAT 931
AVC Operations Pty Ltd (the Tenant) entered into an asset sale agreement with Wheatland Hotels Toorak Pty Ltd (the Assignee) for the sale of the “Bush Inn” business operated from a premises on Malvern Road, Toorak. The Tenant sought the consent of Teley Pty Ltd (the Landlord) to assign the lease for the business to the […]
ReadmoreLeasing Insider | Sze Tu v Jam Studios Pty Ltd; Jam Studios Pty Ltd v Sze Tu [2018] NSWSC 868 (12 June 2018)
Margaret Sze Tu, Shiu How Sze Tu, Shiu Shing Sze Tu, Helen Sze Tu (the Landlord) were the registered proprietors and owners of premises known as Shop 5, 42-44 Queen Street, Campbelltown. The dispute between the parties related to an alleged lease to Jam Studios Pty Ltd (the Tenant), who was in possession of the […]
ReadmoreLeasing Insider | Versus (Aust) Pty Ltd v A.N.H. Nominees Pty Ltd [2017] VCAT 859
Versus (Aus) Pty Ltd (the Tenant) leased retail premises located in Church Street, Brighton from A.N.H. Nominees Pty Ltd (the Landlord). The Tenant operated a lingerie business from the premises from June 2006 until the Tenant vacated in May 2011. The premises was affected by water and moisture ingress which resulted in excessive mould within […]
ReadmoreLeasing Insider | PG Kazis Nominees P/L v Bakers II P/L & ORS [2018] SADC 48
PG Kazis Nominees Pty Ltd (the Landlord) entered into a retail lease with Bakers II Pty Ltd (the Tenant). The term of the lease was for 5 years commencing on 1 March 2003 with options for two further terms of five years each. The Tenant exercised the first option to renew which expired on 28 […]
ReadmoreLeasing Insider | William Buck (Vic) Pty Ltd v Motta Holdings Pty Ltd (Building and Property) [2018] VCAT 15
William Buck Pty Ltd (the Tenant) entered into a lease with Motta Holdings Pty Ltd (the Landlord) which required the tenant to pay land tax in respect of the premises. After entering into the lease and paying significant sums of land tax to the Landlord, the Tenant subsequently claimed that the lease fell under the Retail […]
ReadmoreA snapshot of the changes to the Residential Tenancies Act 1997
On 6 September 2018 the Residential Tenancies Amendment Bill 2018 was passed by Parliament and included more than 130 reforms which aim to increase protection for renters. The Residential Tenancies Amendment Act 2018 (RTAA) is due to come into effect progressively and completely, by 1 July 2020 and will amend the Residential Tenancies Act 1997 […]
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