As an ongoing service to clients we will be providing you with details of VCAT cases each month concerning retail property issues.
Here are two cases which may be of interest to you from the Building and Property List at VCAT which are summarised below:
1. 128 Bourke St Pty Ltd v ESM Nominees Pty Ltd (Building and Property) [2023] VCAT 1265 (15 November 2023)
This case dealt with a market rent review determination by a valuer from 2018 which was disputed by the applicant who is the tenant. A number of legal principles were examined including the profits method of valuation and the concept of premises being “vacant” and available for reletting. This case covers virtually every element in what has been a series of cases where parties have challenged the valuation process. In this instance the landlord was successful.
Further details can be viewed here.
2. Maxcon Constructions Pty Ltd v The Mercer Development Pty Ltd (Building and Property) [2023] VCAT 1259 (16 November 2023)
This case dealt with a builder (the applicant) seeking the return of a substantial bank guarantee following a dispute with the property owner. The case is extensive and the applicant was successful.
Further details can be viewed here.