Session details
Session 11.3: Property development agreements in broad acre setting
Broadacre land holdings on the periphery of larger cities (many held or accumulated by primary producers over long periods) provide most of the feed stock for broadacre land developments.
Current pressures to bring residential land onto the market coupled with long delays in planning approvals can leave developers holding development rights exposed.
Standard modern development agreements require land owners to make payments to developers for development costs incurred, which will generally include a component of ‘profit’. In this session we consider:
- How should outlays and receipts be characterised?
- Does section 15-15 still have a role?
- Must land be characterised as trading stock?
- Allocating value and cost to a lot, and
- Potential duty on the developer’s right to receive a share of the profits?
Speakers: Chris Ardagna, CTA, Pitcher Partners, Jake Berger, CTA, Pitcher Partners