Retail Leases Act 2022

Subject to subsection (2), the Director is to make a determination that specifies the form and the content of a landlord’s disclosure statement.

A landlord’s disclosure statement must – specify – the rent that is payable by the tenant under the retail lease and the method used to calculate that rent; and when a review of the rent that is payable by the tenant under the retail lease is to take place and the basis on which the review is to be made; and all other actual costs and charges, or estimated costs and charges, that are payable by the tenant under the retail lease, including, in the case of estimated costs and charges, the method of calculating the estimated costs and charges; and have included with it – a copy of the retail leases guide; and a copy of the proposed retail lease; and a copy of the code of practice; and contain a statement notifying the tenant that he or she should seek independent legal advice; and contain, or have attached to it, any information, or material, that is relevant to the retail lease that the Director specifies in a determination made under subsection (1).

If the retail premises are situated in a retail shopping centre, in addition to the requirements of subsections (1) and (2), the landlord’s disclosure statement must also specify – the annual sales of the retail shopping centre; and the annual turnover per square metre of, if possible, at least 3 different categories of retail premises, including but not limited to retail premises selling food, selling other goods or providing a service, in the retail shopping centre; and if the information is readily available, a recent traffic count at the retail shopping centre; and if applicable, details of specific fit-out construction standards that apply in relation to the retail shopping centre; and the current tenant mix and when the leases of major tenants in the retail shopping centre expire; and the permitted uses of the prospective retail premises in the retail shopping centre; and if applicable, the core trading hours of the retail shopping centre and whether any changes to the core trading hours are proposed; and details of any expenditure incurred or to be incurred by the landlord during the term of the lease on account of advertising, promotion and marketing costs to which the tenant is required to contribute under the retail lease.