Leases – Retail, Commercial & Industrial

Most businesses lease their premises. Leases impose significant obligations on tenants regarding the rent and outgoings they pay, the use to which the premises are put and the care and upkeep of the premises. If a tenant breaches its obligations under a lease it can be ejected from the premises and sued for unpaid rent and outgoings and other breaches of the lease.

Retail premises leases impose significant obligations upon landlords. Landlords are required to provide Disclosure Statements and draft leases to prospective tenants of retail premises within specific time frames. Failure to understand a landlord’s obligations under the Retail Leases Act 2003 can result in a tenant avoiding paying rent and being able to prematurely terminate the lease.

It is essential that landlords and tenants understand their rights and obligations under a lease. Issues relating to directors’ guarantees, security deposits and bank guarantees, use of premises, rent review clauses, fit-outs and so on will need to be carefully assessed. Lukaitis Partners regularly provides landlords and tenants of retail, commercial and industrial leases with advice regarding their respective rights and obligations. We regularly prepare Disclosure Statements and all types of commercial leases.

Lukaitis Partners has extensive experience in all aspects of commercial leases including, their negotiation, drafting, transfer, early termination by surrender, various types of consents (eg. franchisor’s and mortgagee’s), sub-leases and licence agreements.

Commercial and retail leases are regulated by complex legislation and common law principles. The Lukaitis Partners team has many years experience and extensive knowledge in all aspects relating to commercial leases.