The helicopter-loving, high-flying Deagues are a property dynasty in Melbourne which has been operating across five generations for more than 160 years. Baillieu House was described in a 1961 book, Best Australian Dwellings, as one of Victoria’s 10 best homes. Deague Capital alleges it sought a refund from Alvarium in July, claiming it had rescinded the deal, but the family office investment house refused to pay back the $3 million. F +61 3 9863 7337 Start the day with major stories, exclusive coverage and expert opinion from our leading business journalists delivered to your inbox. Every element of Melbourne Village celebrates the finest in Melbourne living. ", The Deagues say the contract was executed in July for $62 million. The young, rich William Deague prefers to live in Victoria’s wealthy seaside suburb of Portsea, although he works 100 kilometres away in Melbourne. Lawyers for the Alvarium entity and Mr Treacy said: "Alvarium Head Co Pty Ltd and Mr Treacy strongly deny these allegations and will be vigorously defending their position.". Deague Capital alleges it sought a refund from Alvarium in July, claiming it had rescinded the deal, but the family office investment house refused to pay back the $3 million. The project is the Ambrose apartment complex in the inner-city Brisbane suburb of Milton. Previously Asia Pacific Group, Deague Group is led by patriarch David Deague and eldest son Will Deague. Mr Deague claims Mr Treacy told him over the phone on March 4 that the execution of the contact was a few days away and that it would be for $50 million. A new era for West Melbourne Spectacular views, stunning interior design and a once-in-a-lifetime location. But the Deagues allege they were misled into investing in the project which had a much larger construction cost than they were originally told. Our strategy of taking a broad geographic focus affords us the freedom to go wherever we find suitable opportunities that accord with our long term vision. This field is for validation purposes and should be left unchanged. The Deague's investment arm, Deague Capital, alleges in February this year Alvarium informed it of a development opportunity that was in the final stages of negotiation over a building contract that "should be closed out over the next week".
Secret Sydney terraces set to smash suburb record. settled more than 500 apartment sales in its Whitehouse Towers development in Box Hill. While best known as developers the Deague Group have also long been co-investors in other projects. It also sold its Art Series Hotel Chain to Mantra Group (now part of Accor) for $52.5 million.