Retail & Commercial Lease Lawyers on the Central Coast

Retail leases in NSW are governed by the Retail Leases Act 1994, which gives tenants protections that ordinary commercial leases do not, including a disclosure statement, a minimum five-year term in many cases, and limits on certain costs being passed on. Whether your premises is retail depends on its use and location, not on what the lease is titled.

For a document that binds you for years and often includes a personal guarantee, yes. Review before signing is far cheaper than dealing with the clause later, and most of the terms are negotiable up until you sign.

It sets out the condition you must return the premises in at the end of the lease. Some require you to strip out your fitout and restore the space to base building condition, which can be a five-figure cost that arrives just as you are closing or moving. It is worth negotiating before you sign, not after.

It makes you personally responsible for the company’s obligations, so the landlord can pursue your own assets if the business cannot pay. Landlords commonly ask for one. It can sometimes be limited in amount or duration, and that is worth negotiating.

Check the option clause now, because options usually have to be exercised in a specific window and in a specific form. Miss it and you may lose the right to renew and be negotiating from scratch. Bring us the lease well before the date.

It needs the landlord’s consent and a formal assignment, and landlords will usually want to assess the incoming tenant. It is a routine part of a business sale but it does need to be started early, because it can hold up settlement.

For a straightforward review we can usually quote a fixed fee up front. Drafting a lease from scratch, or negotiating a heavily amended one, costs more, and we will give you a figure before we start.