COMMERCIAL LEASES – VICTORIA

Morgan’s property fight ends in stalemate

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Original article by Simon Johanson
The Age – Page: 32 : 11-May-16

The Supreme Court of Victoria has ruled that there are no grounds for either Roy Morgan Research or Impact Investment Group to terminate the former’s lease at 401 Collins Street, Melbourne. Justice Clyde found that neither party had breached the terms of the 10-year lease and are therefore not entitled to damages. The dispute centred on the replacement of the building’s elevators. Roy Morgan Research executive chairman Gary Morgan had withheld rent payments due to the dispute, which culminated in IIG locking the market research firm out of its premises.

CORPORATES
ROY MORGAN RESEARCH LIMITED, IMPACT INVESTMENT GROUP PTY LTD, SUPREME COURT OF VICTORIA

Eviction, then litigation ramps up blueblood battle on Collins Street

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Original article by Sarah Danckert, Nick Lenaghan
The Australian Financial Review – Page: 3 : 22-Dec-15

The Supreme Court of Victoria’s Justice Clyde Croft has criticised Impact Investment Group’s actions in locking Roy Morgan Research out of its premises in Melbourne’s CBD. Justice Croft ruled that the market research firm must be allowed back into 401 Collins St, and said Impact’s actions were inappropriate given that the dispute between the parties was already the subject of court proceedings. Roy Morgan Research has withheld rent payments since September due to a dispute over work on the building’s lifts and the amount of time the work is expected to take.

CORPORATES
ROY MORGAN RESEARCH LIMITED, IMPACT INVESTMENT GROUP PTY LTD, SUPREME COURT OF VICTORIA

Mall refits maintain low Melbourne retail vacancies

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 34 : 13-Jun-14

Data from CBRE indicates that the vacancy rate for prime and super prime retail properties in the Melbourne CBD was 1.45 per cent in June 2014. Net rents were steady in the year to June, while outlets such as clothing and shoe stores comprised about 26 per cent of tenants

CORPORATES
CBRE PTY LTD, HERRON TODD WHITE AUSTRALIA PTY LTD, HENNES OCH MAURITZ AB, LASALLE INVESTMENT MANAGEMENT INCORPORATED, DEXUS PROPERTY GROUP – ASX DXS