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ARTICLE · 08 MARCH 2017

Retail Leases Act changes in New South Wales

Colin Biggers & Paisley
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Lessors and lessees in NSW should be aware of these changes in order to be prepared for when these changes take effect.

AustraliaReal Estate and Construction
Chris Rumore
Chris Rumore

The Retail Leases Act 1994 in New South Wales will be significantly changed now that both Houses of Parliament have passed the Retail Leases Amendment (Review) Bill 2016. Lessors and lessees should be aware of these changes in order to be prepared for when these changes take effect.

The date for these provisions taking effect is yet to be proclaimed but the major changes are the following:

  • to confer a right of compensation on a lessee who terminates a retail lease during the first six months
  • to change the definition of outgoings and require the lessor to give a full disclosure in the Disclosure Statement of all outgoings, otherwise the landlord cannot recover undisclosed outgoings

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