From 1 January 2011 a new national harmonised landlord
disclosure statement will be introduced in Queensland, Victoria and
New South Wales.
The 'old' retail leasing legislation required landlords
to provide prospective tenants of a retail lot with a standard form
of disclosure statement at least 7 days before a prospective tenant
entered into a retail shop lease. The disclosure forms differed
between each of the states making lessor disclosure a cumbersome
task for many national landlords.
Why were the changes made?
The amendments have been made in an attempt to standardise the
requirements of a lessor's disclosure statement across
Queensland, New South Wales and Victoria. The changes affect the
information that must be included in the lessor disclosure
The new disclosure requirements require landlords to provide
more detailed information in the lessor disclosure statement from 1
January 2011. Some of the major changes relate to fitout
contributions, proposed survey, and details of current legal
proceedings regarding the lawful use of the leased premises.
A summary of the changes made to the Retail Shop Leases
legislation can be viewed in the following table and in the
attached marked-up version of the disclosure requirements.
Disclosure Requirements from 1 January
What has changed
Section 3 (b) the address of the leased shop
Section 3 (b) the address and description of the leased
Removal of the word 'description'
Section 3 (d) the date or estimated date the lease starts
Section 3 (d) the date the lease starts
Insertion of the word 'estimated'
Section 3 (e) the date the lessee is entitled to occupy the
shop, if different to the date or estimated date the lease
Section 3 (f) (i) if there is an option, the details regarding
the date by which the lessee must exercise the option
Section 3 (e) details of any options to renew the lease
The section has been moved from (e) to (f) and sub-sub sections
(i) and (ii) have been added.
Section 3 (o) (iv) whether or not the lessor gives any
assurance to the lessee about the nature of other businesses
operating in the shopping centre
Section 3 (p) dealt with leases in retail shopping centres and
listed a rather extensive list of details (such as s 3(p)(vi) -
number of parking bays and s3(p)(vii) facilities provided by the
In the 'new' regulation these details have been removed
from the 'retail shopping centre' leases section and are
stated as their own, stand alone subsections. This means that even
if a lease is not within a retail shopping centre those details
previously only applying to shopping centre leases must now be
disclosed by all lessors for leases.
Section 3 (q) whether or not a survey of the leased shop's
area will be undertaken
Section 3 (t) details of any structures, fixtures, plant or
equipment to be provided by the lessor
Section 3 (v) an estimate of any contribution to be made by the
lessee to the cost of the lessor's works
Section 3 (y) any requirements the lessee must comply with
relating to the quality or standard of the shopfront or fit
Section 3 (z) any alteration works that the lessor is aware of,
that are to be carried out by or for the lessor to the shop, leased
building or shopping centre
Section 3 (za) whether the lessee is entitled to access the
shop outside core trading hours, and if so, any costs payable by
the lessee to do so
Section 3(zb) details of any current legal proceedings in
relation to the lawful use of the shop etc.
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