Australia Retail Premises Lease with Turnover Rent Provision

Lease commercial property in Australia to a tenant with this Retail Premises Lease with turnover rent provisions.

• Turnover Rent. The tenant agrees to pay turnover rent in addition to base rent. Turnover rent is additional rent which is calculated as a percentage of the sale of goods or services from the premises, less the amount of refunds and credits.
• Rent Reviews. The lease includes a procedure for Consumer Price Index reviews and market rent reviews.
• Renewal. The tenant has the option to renew the lease, but if the tenant does not renew and continues to occupy the space after the expiry of the tenancy, the lease becomes month to month.
• Charges and Outgoings. The tenant must pay service charges for the premises and a proportionate share of outgoings for the building, as well as any GST payable on the lease or the outgoings.
• Security Deposit. The security deposit may be paid by cheque or unconditional bank guarantee.
• Insurance. The tenant is responsible for maintaining risk, public liability, workers compensation and plate glass insurance. The landlord must insure the building for full replacement value.
• Relocation. The landlord has the right to relocate the tenant in the building for purposes of extensive refurbishment or redevelopment.
• The lease template includes a sample set of Building Rules and Regulations.
• Not State Specific. This template does not reference specific state or territorial legislation.