Commercial and retail leasing
Commercial or retail leasing concerns the leasing of premises which are used for commercial as distinct from residential purposes. Examples of property include shops, factories, warehouses and offices. Whether you are a commercial property owner or a prospective tenant, here at BDN we can assist in making the right leasing decisions for you.
Navigating the governing legislation of each State or Territory can be tricky. Here are BDN our trained team of experienced lawyers are proficient in the:
- Conveyancing Act 1919 (NSW)
- Real Property Act 1900 (NSW)
- Retail Property Act 1994 (NSW)
- Leasing (Commercial and Retail) Act 2001 (ACT) and
- Duties Act of both NSW and ACT
Before proceeding to sign your lease it is important to identify three key aspects, they are:
- Is the property retail or commercial and what is the relevant legislation
- Should there be a lease, or only an agreement for lease and
- If there should be a lease, what are the formal requirements, including registration
The answers to these three questions will provide guidance to which leasing arrangement is best for you. It will also ensure that your lease is complaint with the relevant legislation. An experience BDN lawyer can guide you through the process and assist in identifying the right leasing arrangement and negotiating favourable terms and conditions that will suit your needs.
Whether you are a property owner or prospective tenant, BDN can help with:
- conducting the relevant searches of the property;- advise on lease duration, extensions and options for renewal of the lease including any need for registration
- negotiated rent and rent revenues
- ensure the correct permitted use of the property
- include any costs associated with business operation such as insurance, outgoings and maintenance requirements
- ensuring adequate security is provided through the use of guarantees, deposits and security payments
- list inclusion or exclusion of provisions covering rights of access, use of additional amenities, parking and common portions of the building
- draft and/or negotiate terms and conditions of the lease including advice on any proposed special conditions
- ensure avenues for assignment and/or subletting of the property as well as any termination clauses
- coordinating consent by a Mortgagee or Financial Institution
- ensuring compliance with the Vendor Disclosure requirements
- proper execution of the lease in accordance with the relevant legislation and
- determining and actioning the registration of lease (if required)
An experienced lawyer at BDN will understand your commercial objectives and ensure any lease is drafted to reduce commercial risk. We will address foreseeable problems and adequately and fairly cover the interests of Lessor and Lessee whichever the case may be.
