Leases

Is the lease for commercial or industrial premises?
Is it retail premises for the purposes of the retail leases legislation?
If so, is there a Disclosure Statement?
What are the remedies if there is no Disclosure Statement?

Will I still be responsible for the lease payments if I sell my business conducted on the leased premises?
Can the Landlord stop me transferring the Lease?

It is important to have the Lease reviewed prior to signing. Make sure you have a Lease for the relevent period, with choice of options and you understand when the rent will be reviewed.

Discuss with us the advantages and disadvantages imposed on you under the document before you sign it. Especially understand the restrictions imposed when you want to transfer the Lease on the sale of your business.

Article

Assigning (transferring) your lease.

Assignments of lease usually happen in 2 contexts:

• the first is where a business is being sold; and
• the second is where premises are surplus for one reason or another.

Sometimes of course the business that is being sold is one of the businesses, or part of a business, being carried on by the tenant. Likewise, sometimes only part of the premises becomes surplus. The terms of the lease will cover:

• Conditions for assigning the lease in the context of the sale of businesses; or
• The change of control of the tenant company;
  
  
• the requirements of the landlord to impose restrictions on assignment;
• consequences on the tenant upon the assignment;