I was recently approached by a large sporting club that wanted to grant a long-term site lease of part of its land for a developer to construct a 300 unit multi-stage retirement village and aged care facility.
The club’s aim was to realise immediate land value and create an ongoing revenue stream to diversify its future sources of income.
In addition to the usual features of property development joint ventures, the retirement village introduced many unique risks for the club as landowner. I worked with the client to identify the issues, advise of the risks and tailor the transaction documents accordingly.
Our collaborative approach with the developer and its legal representatives produced a suite of transaction documents that supported the parties’ commercial agreement while protecting the club’s interests.