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ARTICLE · 21 MARCH 2012

Are introduction fees on property transactions recoverable?

Colin Biggers & Paisley
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A recent NSW decision found that Lend Lease was entitled to a fee for the inclusion of Charter Hall in a Lend Lease bid.

AustraliaReal Estate and Construction
Michael Rumore
Michael Rumore

In brief - Lend Lease succeeds in recovering bid inclusion fee from Charter Hall

A recent decision handed down on 30 December 2011 in the matter of Lend Lease Real Estate Investments Limited v Charter Hall Retail Management Ltd showed that Lend Lease was entitled to a fee for the inclusion of Charter Hall in a Lend Lease bid for all of the commercial property portfolio being offered by ING Group.

Lend Lease seeks 1% fee from Charter Hall for inclusion in bid

Charter Hall was only interested in two specific properties and effectively joined in the Lend Lease bid on the understanding that it would have transferred to it the two properties it was interested in if the Lend Lease bid was successful.

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