Structuring and partnering
We advise on the appropriate business structure for your development based upon a range of factors. Potential liabilities such as capital gains tax and GST, as well as stamp duty implications are at the forefront of our mind when advising on the appropriate structure.
Often, developments are undertaken together with other parties, sometimes related but most often unrelated. Documenting the relationship is of paramount importance, and includes dealing with desired outcomes such as profit share, but also preparing for other potential but less desired occurrences, such as funding shortfalls and loss of trust and confidence between partners.
Our experience in dispute resolution amongst developer partners informs our advice to you about the appropriate safeguards and mechanisms to negotiation at the commencement of the relationship to give the best chance of avoiding costly disruption and disputes should problems arise.
Financing
We can assist in relation to the negotiation of financing facilities, as well as advising on the documentation proposed by financiers in relation to property development.
Sophisticated financing arrangements are often contemplated with larger developments, including staged finance facilities linked to staged development milestones, such as acquisition, lodgement of applications for approval and percentage pre-sale milestones. We are experienced in assisting in the negotiation of the financing proposals and documentation to best protect your interests.
Due diligence
In any development there are risks to its profitability in a wide variety of areas. We can assist in investigation and identification of those risks prior to entering into a binding agreement, as well as advising on the likely or potential impacts of identified risks on the likely time, cost and return of the development.
We conduct detailed title investigations, reviews of encumbrances such as rights of way and easements, land use rights and town planning issues, reviews of leases and tenancy arrangements as well as investigation of proposals by councils or authorities that may affect the land or potential development.
Our aim is to identify the risks to permit you to make the appropriate assessments of risk, and if feasible, use those risk assessments for negotiation of any acquisition price.
Acquisition
Obtaining proper title to the land to be developed is a fundamental requirement. Our conveyancing experience will ensure that you receive good title to the land to be acquired.
Options for the purchase (and sale) of land are regularly used and documented by us to assist our clients to manage the timing of acquisitions and to permit the consolidation of sites from multiple vendors without binding financial commitments to purchase individual sites.
Development approvals
Lodgment of complex applications for development approval often require the liaison between numerous professionals such as architects, planners, heritage consultants, engineers, environmental consultants, contamination consultants, traffic consultants and the like.
We can assist in the negotiation of the contracts with the consultants to ensure that the terms are not only commercially satisfactory, but also to ensure that you retain all necessary rights to permit you to sell not only the land and the development approval, but also the plans and reports commissioned to obtain the approval.
We also have experience in conducting appeals to the Land and Environment Court arising out of the deemed refusal or refusal of development applications, as well as applications to modify existing consents.
Construction
The construction contract is obviously fundamental to the development process. We can assist in liaising with your consultants to ensure that the construction contract reflects the best balance between price, risk and time in your particular circumstances.
It is fundamental that the better the specification and preparation prior to contract execution, the better chance of minimising the impact of any latent conditions and variations will have on the program and the cost of the construction. We can assist in negotiating appropriate extension of time, variation and damages clauses.
We also have substantial experience in the operation and effect of the Building and Construction Industry Security of Payment Act in construction contracts, ranging from preparing payment claims and payment schedules to adjudication submissions and Supreme Court proceedings arising out of adjudications under the Act.
Registration of plans & restrictions on use
Deposited plans, plans of subdivision and 88B Instruments have become increasingly important over the years as councils seek to impose development restrictions that are required to bind all owners of the developed land. Often this can require detailed liaison with surveyors to prepare appropriate linen plans, together with our legal drafting of the terms of any restrictions on use.
Strata plans and community plans are now well understood vehicles for the development and sale of developed lots. We understand the art of preparation of appropriate plans, as well as management of voting rights during the initial period after sale.
Sale
We have substantial experience in the sale of completed developments, ranging from the smallest strata studios to large scale industrial sites.
When dealing with the sale of large numbers of properties from pre-sales or completed developments, we offer a system for drafting, negotiating, exchanging and settling sales to offer efficiency and certainty for developers and their financiers.
Leasing
We can assist in the negotiation and drafting of agreements for leases, leases, fit-out agreements and incentive agreements to assist you to secure a key tenant, whether prior to, during or after site acquisition.
Industrial leases, commercial leases and retain tenancies are areas in which we have substantial expertise. In addition to assisting to secure the tenant, we have experience in dealing with tenant issues such as lease disputes, market rent review disputes and defaults.
