In the legal case of realT Properties Pty Ltd v Arete Real Estate Pty Ltd & Anor [2024] QDC 180, the District Court of Queensland deliberated on a contract dispute involving the sale of a rent roll. The plaintiff, realT Properties Pty Ltd, claimed for specific performance or, alternatively, damages due to the defendants' alleged unlawful contract termination. The first defendant, Arete Real Estate Pty Ltd, claimed anticipatory breach due to the plaintiff's inability to transfer all properties on the agreed rent roll, citing issues such as the resignation of a key employee which led to the departure of some landlords. The court ruled in favour of the plaintiff, granting them leave to amend their claim and statement to include a claim in debt. It found the defendants did not lawfully terminate the contract, thus the plaintiff succeeded on liability and is entitled to the recovery of the outstanding purchase price as a debt. The court highlighted the statutory procedures under the Property Occupations Act 2014 that governed the assignment of appointments during the selling process, which the plaintiff adhered to, securing a favourable judgment.
Full text: https://www.sclqld.org.au/caselaw/150426