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ARTICLE · 25 MAY 2025

Straying from the plan: Lessons from Lendlease vs Mount Gilead

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Lendlease Communities (Figtree Hill) Pty Ltd v Mount Gilead Pty Ltd (No 3) [2025] NSWSC 334.

AustraliaReal Estate and Construction
Vanya Lozzi
Vanya Lozzi
Caitlyn Trussell
Caitlyn Trussell
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The recent judgement of the Supreme Court of New South Wales (the Court) in Lendlease Communities (Figtree Hill) Pty Ltd v Mount Gilead Pty Ltd (No 3) [2025] NSWSC 334 (Mount Gilead No 3) serves as a cautionary reminder that strict adherence to the conditions precedent is required when exercising a put or call option. Otherwise, the right to exercise that option will not arise.

The proceedings concerned an agreement entitled 'Irrevocable Offers Deed Balance Land, Mt Gilead' (Deed) for the purchase of Lots 6 to 10 (Balance Land) entered between the plaintiff and members of the Lendlease group (Lendlease) and Mount Gilead Pty Limited and Mount Gilead (Access) Pty Ltd (together, the Landowners).

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