Property developer Mirvac has launched urgent court proceedings against the lessee of 10 Travelodge hotels, seeking to evict them ahead of a scheduled sale of the properties.
In the NSW Supreme Court lawsuit, Mirvac seeks orders that leases with Value Lodging be terminated so an acquisition of the hotels by fund manager Salter Brothers can go ahead.
The leases, which began in June 2020, relate to properties in Sydney, Perth, Melbourne and Brisbane.
Mirvac sought to terminate the contracts after the sale to the Salter Brothers was confirmed in July 2021.
Despite being served with the notices of termination in March this year, Value Lodging refused to vacate the premises, claiming the notices were invalid and disputing the notice period given to move out.
Mirvac has sought urgent declarations from the court, claiming the acquisition of the properties by Salter Brothers depends on the hotels being vacant.
"(If) vacant possession of the properties is not delivered by Mirvac by 30 June 2022, Mirvac will incur financing costs, time value of money costs, direct interest costs, and opportunity costs," wrote Mirvac's solicitor Jonathan Light in an affidavit.
As well as the declarations, Mirvac is also seeking its legal costs.
The case is being heard by Justice Rowan Darke.
