There is a lot of anecdotal evidence out there to suggest that
for some time the nature of retail is changing in Australia. It is
quite clear that the tables have turned in terms of negotiating
power of a retail tenant today as compared to when I first started
in legal practice 20 years ago.
I often talk to my clients about the notion that when you sign
up a lease, you are locked in for the long haul and so if the
numbers do not stack up, you simply should not take the risk to
lock yourself in. Once you sign on that dotted line, it's not
simply a matter of being able to walk away from your site –
you are obliged to pay the rent for the term that you have locked
into and you have invested many hundreds of thousands of dollars in
your fit out. Therefore, I am taking time out to give you as
prospective tenants some tips on how to negotiate your lease in a
changing retail landscape.
