| Focus: |
The scope of 'base building condition' in a lease from
a legal and industry perspective |
| Services: |
Property & Projects |
| Industry Focus: |
Property |
In recent times, the trend for landlords and tenants in
negotiating commercial and retail lease arrangements has been to
move towards a lease document which contains relatively plain
language and is easy to understand. There has been a move away from
verbose paragraph-long sentences with various sub-conditions and
exceptions, towards the use of short sharp statements and a simpler
structure. Much of the detail is fleshed out in the definition
section of the agreement.
There is also a trend away from landlords producing a document
which is heavily weighted in their own favour, to a starting
document which forms a reasonable base upon which to give effect to
the parties' commercial agreement. This more commercial
approach means that there are a number of key terms and phrases
which are
