So far 2021 is busy. The kind of busy few of us might have anticipated just a few months ago. Everyone I speak with is experiencing the same. In fact, we have needed to put on a number of new staff to address a significant boost to new business and clientele. With the uncertainty of the past year seemingly behind us, it’s great to get back to work.
Against all odds, the residential property market is booming as Australians return from overseas or look to take advantage of flexible work arrangements. As a result, developers are reacting and swinging into action, and we have had no shortage of new contracts arriving in our inbox.
Also very busy on the telecommunications side of things, we have continued to provide regulatory advice to industry and local government regarding proposed amendments to the carriers’ powers and immunities framework.
The Federal Government continues their consultation program towards finalising amendments to the 1997 Telecommunications Act which means parameters are still moving.
Notably, this year we have already achieved positive outcomes for multiple entities, including acting for:
- bodies corporate – in the approval of telecommunications facilities on resort accommodation;
- landlords opposing carrier attempts to exercise Schedule 3 powers;
- rural landowners in regards to proposed tower installations on their properties, negotiating unusual circumstances across the board;
- multiple landlords on the successful negotiation of lease renewal terms;
- a Brisbane-based landowner developing city property requiring relocation of multiple carrier facilities and leases;
- numerous landlords – successfully having carriers cease breaching access easement terms;
- carriers in relation to very remote cell sites in regional Australia;
- carriers seeking regional LAANs; and
- carriers seeking interpretation under the Low Impact Facilities Determination.
There is plenty of new activity in the sale of commercial properties in the Brisbane region. We were recently involved in undertaking a significant due diligence for the acquisition of a $100M+ commercial building in the Brisbane CBD for a major property developer.
Additionally we are acting on the sale of a suite of Brisbane commercial properties, worth in the vicinity of $5M. So there does not seem to be any hesitancy among developers in making these acquisitions.
Having got over the negotiations of leases last year due to multiple issues borne out of COVID-19 restrictions and challenges in the workplace, we are still seeing a surprising amount of leasing work as businesses seek to consolidate their holdings or establish a presence in new regions.
Retirement Village practice
Strong growth continues in the Retirement Village sector with our key RV clients experiencing significant sales in existing projects as well as engaging us to undertake Due Diligence for new development possibilities. We expect confidence in this industry to continue.
We have recently formed some strong relationships assisting new clients in the approach to acquisition of underlying lease interests (supporting different types of infrastructure projects) by means of concurrent leasing. This has required us developing key suites of documentation across multiple jurisdictions for clients from a variety of industries.
It is encouraging to see the economy rallying and the growth that is occurring in these key sectors. If we can assist you in any of our key business areas as mentioned above, please contact our expert property team today.
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