Property and Construction Finance

We are highly noted for delivering a seamless approach to our clients for both routine and complex transactions in the area of property finance. Our team has well established processes in place to effectively manage and deliver on property financing transactions for financial institutions. We act for financiers in a number of syndicated and non-syndicated debt and equity project finance transactions involving the financing of the acquisition and construction of shopping centres, warehouse complexes, commercial buildings, hotels, residential developments and industrial buildings.

We are experienced in acting for corporate groups and financiers on construction finance facilities. These have included all types of projects including residential, industrial and commercial developments, strata and community title developments, shopping centres, retirement villages, nursing homes and hotels. 

The work required includes the usual steps taken on a commercial loan together with particular issues relevant for construction finance including:

• consideration of local government approvals including building and development approvals
• review of pre-sale and pre-lease agreements of lots in the plan of subdivision (where applicable)
• negotiation of appropriate third party side deeds
• advice on building contracts (where applicable), development agreements and other key contracts

• Legal update: EFT Code Review 2007

  ASIC has released a consultation paper in January 2007 titled “Reviewing the EFT Code”, inviting public submissions as part of its current review process of the Electronic Funds Transfer Code of Conduct.

  19 Mar 07 Phillip Kong

• Legal update: Proposed extension to expiry date of the UCCC Mandatory Comparison Rate provisions

  The Consumer Credit (Queensland) and Another Act Amendment Bill 2007 (QLD) (‘the Bill”) proposes to amend the Uniform Consumer Credit Code (“UCCC”) to extend the expiry date of the mandatory comparison rate provisions of the UCCC until 30 June 2009.

  15 Mar 07 Phillip Kong

• Legal update: E-commerce amendments to Consumer Credit Code (UCCC) to commence on 9 October 2006

  The e-commerce amendments to the Consumer Credit Code contained in Part 2 of the Consumer Credit and Trade Measurement Amendment Act 2006 and the Consumer Credit Amendment Regulation (No.1) 2006 to commence on 9 October 2006.

  6 Oct 06 Phillip Kong

• Legal update: Consumer Credit Amendment Regulation - e-commerce amendments

  The Consumer Credit Amendment Regulation (No. 1) 2006 (Qld) was gazetted on 4 August 2006 and will commence on the proclamation of the Uniform Consumer Credit Code (UCCC) e commerce amendments.

  17 Aug 06 Phillip Kong

• Legal update: E-commerce amendments to Consumer Credit Code (UCCC)

  The Consumer Credit and Trade Measurement Amendment Bill 2006 (the Bill) received assent by the Queensland Parliament on 2 May 2006.

  16 May 06 Phillip Kong

• Legal update: Consumer Credit (Bill Facilities) Amendment Regulation 2006

  The Consumer Credit (Bill Facilities) Amendment Regulation 2006 (the Amendment Regulation) will apply the Uniform Consumer Credit Code (UCCC) to the provision of credit arising out of a bill facility. The Amendment Regulation together with the Explanatory Notes can be obtained from www.creditcode.gov.au.

  27 Apr 06 Phillip Kong

• Legal update: Unjust loan contracts - failing to obtain disclosure of the purpose of the loan

  The Court of Appeal recently held that a loan agreement was an “unjust” contract, in part because a lender had failed to obtain information from the borrowers regarding the purpose of the loan. The loan was for a dubious investment in a pyramid scheme. The decision has implications for lenders in all markets, particularly those providing ‘low doc’ and ‘no doc’ loans.

  27 Apr 06 Chris Cruikshank

• Legal update: Stamp Duty on mortgages to be abolished

  Amongst other stamp duty changes announced on 21 March 2006, the Western Australian State Government plans to abolish stamp duty on mortgages.

  27 Mar 06