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ARTICLE · 07 OCTOBER 2016

Valuers Update: Determination excluding 15-year leases from Retail Leases Act upheld

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Certain long-term leases may be excluded from the Act, if the lease complies with the 2004 Ministerial Determination.

AustraliaReal Estate and Construction
Rohan Ingleton
Rohan Ingleton

In brief: Leases granted at commercial rents can be excluded from the operation of the Retail Leases Act 2003 (Vic) (Act), if the lease complies with the Ministerial Determination dated 20 August 2004 (Determination). In order to comply, the lease must be for a term of 15 years or more and require the tenant to carry out substantial work on the premises.

What you need to know:

  • A lease can be excluded from the Act if it is for a term of 15 years or more and requires the tenant to carry out substantial work on the premises.
  • To ensure that the lease is excluded from the operation of the Act, the lease must be carefully drafted to satisfy the requirements of the Determination.

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