Property Development

The property development sector flies or falls on factors often beyond its control. Elections create uncertainty around policy directions, financial institutions can make borrowing money easier or harder, and property purchasers may decide the time’s just not right to buy. But despite the potential difficulties, property remains a key driver of the Australian economy.

We understand the challenges and drivers of property development, working with developers at all stages of their project from conception to settlement, including disposal, development, procurement, tendering, project management, contract interpretation, project financing and dispute resolution.

Property development is more than building and subdividing. It also involves behind the scene issues arising out of joint ventures, syndication and complex business structures, stamp duty and revenue considerations. We speak the industry’s language and understand what’s needed to achieve commercial outcomes. With a national outlook, our team navigate clients through development laws unique to various states.

services

We advise property development clients across all areas of expertise, in particular:

Building contracts
Contract drafting and review
Document development associated with establishment of entities
Fundraising including AFSL, information memorandums and prospectuses
Income tax, capital gains tax, stamp duty and GST
Joint venture, development and project financing
Joint venture, development and project management agreements

We advise property development clients across all areas of expertise, in particular:

Building contracts
Contract drafting and review
Document development associated with establishment of entities
Fundraising including AFSL, information memorandums and prospectuses
Income tax, capital gains tax, stamp duty and GST
Joint venture, development and project financing
Joint venture, development and project management agreements
Leasing and licensing
Profit share agreements
Property and projects due diligence
Sales and acquisitions
Structuring advice
Subdivisions – strata and flat land
Syndication and manufactured equity schemes
Town planning and environment law

what our
clients say

"Macpherson Kelley has taken care of every aspect of our development projects in a professional manner to ensure they run smoothly from beginning to end. Their friendly staff are extremely supportive and responsive, and have always given us peace of mind under difficult situations. We have received ample useful advice from Macpherson Kelley which helped us significantly in making critical decisions. We have no hesitation in recommending Macpherson Kelley to anyone seeking high standard, experienced and cost-effective legal service." Orin Zhu Office Manager Goldfield Group

Macpherson Kelley’s lawyers did all the conveyancing and development legal work for us at our 74 apartment project in Deception Bay and did a terrific job. The whole team at Macpherson Kelley are great to deal with. Adam Carter General Manager Baylife Developments

recent experience

successful sale

Our client built a 324 room hotel development with adjoining shops in Brisbane. On completion the bank gave three months to sell before calling in the loan. After a sales campaign, during which an offer of $98 million was rejected, an offer of $115 million was received but the offshore buyer was leaving in three days. We began negotiating with the buyer’s lawyer at 9am on a Friday and worked through until 1am Saturday. Negotiations recommenced at 9am on the Saturday with final sign off at 8pm Saturday night. The contract was signed Sunday morning before the buyer left for the airport. Ten weeks later and we banked a cheque for $115 million for our client.
land swap

Our client owned a large, odd-shaped parcel of land in New South Wales which they wanted to develop. To enable the development to proceed our client needed a bit of neighbouring land owned by the local council to bring the shape into something they could develop. We negotiated a land swap arrangement with the council and our client. Unfortunately, it soon became apparent our client was running short on time as they had engaged a builder to commence construction before the land swap was finalised. If the land swap was not registered within 48 hours to enable our client to hand over the entire development site to the builder, our client was going to be exposed to a significant claim for damages by the builder. As soon as the client let us know the dilemma they were facing, we immediately prepared the documentation and worked with the council to stamp the transfers on their behalf. Through our contacts with Revenue NSW and NSW Land Registry Services we had the transfers effecting the land swap stamped and registered together with the subsequent plan of subdivision with a couple of hours to spare, saving our client’s business potentially hundreds of thousands of dollars.
greenfield development

Macpherson Kelley has been the lawyers for a family turning a large greenfield site on the south east edge of Melbourne into a housing subdivision. From the start of the project and as each land stage is ready for release, we prepared and advised on documentation as well as helping with a range of issues, including local council and other authority requirements. The development stages include plans for a retirement village, retail shops and offices, a childcare centre, parks and other facilities to service the estate. Throughout our long association with the development we have helped overcome a number of hurdles and the subdivision continues to progress with new housing for Melbourne’s growing population.