There have been no recent judicial developments in commercial leasing but there are statutory changes pending for retail shop leases.
Changes to the Retail Shop Leases Regulation commence on 1 January 2011. The Regulation amends section 3 by expanding the disclosure details required by a retail shop lessor.
The amendments were introduced in order to harmonise retail tenancy disclosure statements in Queensland, New South Wales and Victoria and provide more detailed disclosure to prospective retail shop lessees.
A new form of disclosure statement will be prescribed.
The prescribed particulars for disclosure statements have been expanded to include references to fitout contributions, proposed survey, and warnings regarding the lawfulness of the proposed use of the premises under relevant planning laws.