Retail Asset Management Flashcards
What makes up the Tenant Mix
Achor Tenants (Large low sales m/2, Attract shoppers)
Specialty (Fashion, General, Service)
Food Courts - Cineams
What is the Retail Shop Act 1994
s3. The object of this act is to promote efficiency and equity in the conduct of certain retail businesses in Queensland.
s4. The object of this act is to be achieved through -
a) mandatory minimum standards for retail shop leases and;
b) a low cost dispute resolution process for retail tenancy disputes
What is a retail shop?
Retail shop means premises that are -
Situated in a retail shopping centre or
used wholly or predominately for the carrying on of 1 or more retail businesses
What is a retail shop lease
A lease of retail shop other than a lease of
a RS with less than 1000m2 by a public corporation
Themed premises
Flea market
Agricultural or trade show
Carnival or festival
Prescribed by another regulation
What is a retail shopping centre
Cluster of premises having all of the following:
5 or more retail businesses
1 lessor or head lessor
All premises are located in 1 building
What are the minimum lease standards?
Lease must not contain provisions for payment other than than
Rent
Outgoings (if specified)
Damages
What does retail shop leases act state about rent reviews
Must not be more than a year and does not apply to the first year and only 1 basis must be used
What are the basis’ of rent reviews
Current market rent
Independantly published index
A fixed percentage of the base rent or fixed amount
