Greening Melbourne: Amendment C376 Melbourne Planning Scheme (Sustainable Building Design Amendment)
The City of Melbourne has set a goal to hit net zero emissions by 2040. Currently, buildings in the Melbourne CBD account for approximately 66% of the City’s total carbon emissions. By comparison, throughout the rest of Victoria, buildings account for approximately 25% of total carbon emissions. What does Amendment C376 propose to do? Amendment […]
ReadmoreUnions seeking to expand into the real estate industry
There has been a recent push in NSW by the United Services Union (USU) and the Shop, Distributive and Allied Employees Association (SDA) to expand into the real estate industry – an industry that has traditionally seen low levels of union activities. Spokespersons from both unions have raised concerns about harassment and unsafe practices within […]
ReadmoreEmbedded networks live on as Victorian reform for residential embedded networks slowly takes shape
New embedded networks in residential apartment buildings will be banned from January 2023 unless 100% of electricity is sourced from renewable energy, with at least 5% being sourced from on-site generation. Existing embedded networks in residential sites, including apartment buildings, retirement villages, social housing and residential/caravan parks, will transition to a new regulatory regime, moving through […]
ReadmoreNew priority planning pathways for social and affordable housing development
There is currently a significant affordable housing shortfall in Victoria. Victoria’s Big Housing Build program presents new opportunities for private sector developers to work with Registered Housing Associations to deliver this much needed housing stock. The Gadens Real Estate & Construction Team recently hosted a virtual Boardroom Briefing on the new planning priority pathways for […]
ReadmoreChanges to the Owners Corporations Act – what developers need to know
Developers have an obligation to act honestly, in good faith and with due care and diligence in the best interests of the Owners Corporation created on registration of a plan of subdivision for a development under the Owners Corporations Act 2006 (Vic) (OC Act). There has therefore been a tension between the developer’s obligation to […]
ReadmoreWhat’s that ‘new’ levy on my title?
You may not be aware, but there may be a ‘new’ levy on your title! On 1 July 2020, the Melbourne Strategic Assessment (Environment Mitigation Levy) Act 2020 (Vic) (MSA Act) came into effect. It imposes an obligation to pay a levy prior to certain works being undertaken in specified areas of Melbourne’s growth corridors […]
ReadmoreOff the plan sales and changes to the property
Can the purchaser of an apartment off the plan terminate the contract because the carspace allocated to the lot contained a PWD symbol? Perhaps surprisingly the issue was recently considered by the Supreme Court of New South Wales[1]. The decision provides a useful reminder of the principles which apply to variations between contract and settlement. […]
ReadmoreReal estate agent email hacked but buyer pays the price
If you have bought or sold a property recently, you probably received a warning about relying on emails directing you to pay money to a particular bank account without first checking with the sender that the email has not been altered. Given the amount of money involved, real estate transactions are a prime target for […]
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 […]
ReadmoreElectricity regulatory framework under further review – changes ahead for both embedded networks and stand-alone power systems
The Australian Energy Markets Commission has recently announced two separate reviews – one into the regulation of embedded networks and the other into stand-alone power systems. With the national electricity framework having been founded on a centralised electricity supply model, the explosive growth of both embedded networks and large-scale localised generation options has presented challenges […]
ReadmoreThe sun sets on developers using Sunset Clauses
Developers are in the firing line again as the Victorian Government seeks to restrict the ability of developers to terminate an “off the plan” contract of sale. The Sale of Land Amendment Bill 2018 (Vic) (Bill) was introduced to the Parliament by the Minister for Consumer Affairs on 21 August 2018. The Bill seeks to […]
ReadmoreAre you ready for the GST withholding regime?
Changes to the payment of GST on new residential property are due to take effect from 1 July 2018. The changes are an administrative measure which although not imposing a new tax, do have significant ramifications for property developers as it will impact the settlement process and cash flow. The changes apply to sales of […]
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