Retail and Commercial Leasing Essentials
Join us for this retail and commercial leasing essentials program where you’ll delve into leasing market updates, complex leasing structures, mixed use developments in leasing green leases and relocation & demolition. Stay for the afternoon & explore the rights and obligations of tenants and landlords in addition to market rent review. Master how to deftly handle all these essential leasing issues and more. 226N12
Description
Attend and earn 7 CPD units including:
6.5 units in Substantive Law
0.5 unit in Professional Skills
This program is based on NSW legislation
Session 1
Current Issues Affecting Leases
Chair: Roger Marshall SC, Wentworth Chambers
9.00am to 9.05am Opening Comments by the Chair
Professional Skills
9.05am to 9.35am Retail and Commercial Leasing Market Update
- Economic update: global events and Australian real estate
- Review of past two years in the office, retail and industrial commercial real estate
- Key trends in commercial real estate
Presented by James Melville, Research Manager, Dexus
9.35am to 10.45am Complex Leasing Structures
Examine when to use the following complex leasing structures, their formal requirements and departures, and key negotiation and drafting strategies to consider
- Subleases
- Concurrent Leases
- Triple Net Leases
- Telco Leases
Presented by Steven Askew, Special Counsel, HWL Ebsworth
10.45am to 11.00am Morning Tea
11.00am to 12.00pm Mixed Use Developments and Leases
- Structuring the title and development to address mixed use retail
- Building and Strata Management Statements and the impact on leasing
- Matters that require consideration in an Agreement for Lease and in leases when leasing in a mixed-use development
- Dealing with disputes
Presented by Sebastian Busa, Partner, Baker & McKenzie
12.00pm to 1.00pm Green Leases
- What’s driving tenants and landlords to require green leases?
- Different lease models for different risk appetite
- Examples of tenant policies driving change
- Consequences of non-compliance with a green lease
- Who should be responsible for what obligations?
Presented by Su-Fern Tan, Head of ESG, CBRE Pacific Region
1.00pm to 1.15pm Closing Comments Final Q&A and Closing Comments by the Chair
Session 2
Rights, Obligations and Financial Issues in Leasing
Chair: Denis Hall, Special Adviser – Property & Property Development, Madison Marcus Law
2.00pm to 3.00pm Market Rent Review
- The meaning of ‘face rent’ and ‘effective rent’
- Different ways to draft an ‘effective rent review’
- The treatment of incentives
- Traps to avoid in ‘boilerplate’ market rent review clauses
- How to address unique/unusual premises
- Overturning a market rent review
- Case Review
Presented by Catherine Hallgath, Partner, Mills Oakley Lawyers; Accredited Specialist in Property Law; Leading Leasing and Recommended Property & Real Estate Lawyer, Doyle’s Guide 2021
3.00pm to 4.00pm The Rights of Tenants and Landlords in Liquidation, Administration and Receivership Scenarios
This session will discuss insolvency issues in a leasing context from both a landlord and a tenant.
- How a counterparty’s rights are impacted depending on the type of insolvency
- What happens to bank guarantees and security deposits paid by a tenant when a tenant becomes insolvent
- A tenant’s rights under a lease when a landlord becomes insolvent
- Insolvency event clauses in leases and their effectiveness
- How action by a secured lender mortgagee in possession may impact the parties
Presented by Alicia Albury, Partner, Maddocks; Leading Leasing and Property & Real Estate Lawyer, Doyle’s Guide 2021 and Andrew Ng, Special Counsel, Maddocks
4.00pm to 4.15pm Afternoon Tea
4.15pm to 5.15pm Obligations of Landlords and Tenants Under Leasing
It is critical for people to be aware of the basic tenant and landlord obligations and not lose sight of the same as they keep coming up in practice. This session will cover the following main obligations:
- Payment obligations (rent, outgoings, percentage rent, marketing levy, payment for services) make good and redecoration, insurances, bank guarantee/bond, directors guarantee, repairs and maintenance, refurbishment, use of premises, compliance with obligations, overloading of services and hard stand areas, dates for exercise of options, service of notices, provision of turnover information, obtaining consent e.g., for works and dealings with the premises
- Landlord obligations: quiet enjoyment, return of security, watertight and structural soundness, outgoings information, payment of outgoings, registration, service of notices
- Examine these obligations and other obligations under the Retail Leases Act
- Analyse how the obligations of parties have changed or been affected by the COVID-19 Regulations
Presented by Andrew Grima, Principal, Coleman Greig Lawyers
Presenters
Roger Marshall SC
Roger Marshall SC has over 25 years' experience as a barrister specialising in corporations, insolvency, and commercial matters. Roger also practises in equity and has significant experience in partnership disputes, succession and land law matters, as well as the law of trusts. He also advises and appears in commercial litigation involving banking and securities law, trade practices, professional liability and building. Roger regularly advises and appears in all aspects of those matters. This includes applications for and against liquidators, receivers, administrators, trustees in bankruptcy, financiers, directors, local governments, professionals, trustees, lessors and lessees.
James Melville
James has covered commercial real estate across the office, retail and logistic sectors in both Australia and Europe. Recently, he has been focusing on how the broader economy impacts commercial real estate as the Australian head of forecasting. He has expertise in the development and interpretation of property sector performance metrics, macroeconomic modelling, and commercial real estate forecasting. He returned to Australia in 2020, before that he covered the real estate forecasts in 18 different countries, across three sectors. He is currently a research manager at Dexus.
Catherine Hallgath
Catherine Hallgath is a Partner with Mills Oakley Lawyers and is a Law Society accredited specialist in property law. Catherine has acted for a range of leading Australian and Asian property owners and has extensive experience in acquisition, development and disposal of major property assets, especially commercial office blocks, retail shopping centres and industrial parks. She has acted for landlords throughout Australia in relation to ownership and management of property assets and for tenants in Australia, New Zealand and Asia, negotiating and advising on commercial, industrial and retail leases. Catherine is the author of the Lexis-Nexis Practical Legal Guidance Leasing Service and a member of the Property Law Advisory Committee for the Accredited Specialist program.
Alicia Albury
Alicia specialises in all aspects of commercial property transactions, including property-related restructuring, turnaround and insolvency matters and energy and resources land tenure issues. Alicia is highly experienced in acquisitions and disposals of real estate, regularly advising developers, owners, fund managers, investors and government authorities on industrial, commercial, retail and hotel acquisitions, disposals and development, large scale residential and ‘mixed use’ developments, industrial, commercial and ‘anchor tenant’ retail leasing, property management, joint venture and co-ownership arrangements and major infrastructure projects. Alicia has acted for a range of clients across the public and private sector.
Andrew Ng
Andrew has a wide range of experience in commercial litigation, corporate and personal insolvency and banking. He has experience acting for the majority of the major banks and other lenders on general banking litigation, from security reviews and enforcement, to strategic advice and transaction and security structuring. Andrew advises and acts for insolvency practitioners in their capacity as liquidators, receivers, administrators and trustees in bankruptcy in relation to various issues arising out of their appointment, including in relation to voidable transactions, breach of directors’ duties and fiduciary duties and liquidator examinations. He has also acted and appeared for various businesses, directors and shareholders in Federal Court of Australia and Supreme Court of New South Wales proceedings.
Denis Hall
Denis Hall is a Director and Head of the Property division at Madison Marcus Law Firm which comprises Real Estate and Developments, Leasing and Private clients. Denis acts for local and international property developers and clients on all types of property transactions. Denis acts for private clients on one-off transactions such as sale and purchases of all types of real estate, including Torrens, strata and community title and dealing with houses, apartments, industrial and commercial offices. Denis has extensive knowledge and experience in relation to leases, acting for landlords and tenants on matters.
Sebastian Busa
Sebastian Busa advises on structured property transactions, joint ventures and the acquisition, development, leasing and sale of industrial, commercial and mixed use developments, commercial and bifurcated property and business structures. He has a large commercial leasing practice and specialises in managing property portfolios for end users including in respect of commercial office, purpose built facilities, industrial warehousing, logistics and rail and port facility developments. As a specialise adviser on property development, Sebastian is also highly experienced in complex title structuring, purpose built facilities, agreement for leases, development agreements, joint venture agreements, fitout deeds and associated trust and taxation structuring. Clients include major property developers, major corporate tenants, institutional investors, and REITs industry participants.
Andrew Grima
Andrew Grima is a Principal at Coleman Greig and head of the firm's property and finance team. Andrew has significant experience and expertise in all facets of retail and commercial leasing, including: assisting and advising both landlords and tenants in their negotiations; drafting leases and other related transactions; assignments, surrenders and enforcement of obligations. Andrew also has extensive experience in major leasing and construction projects. Andrew approaches his legal matters in a practical way -getting to the real issues at hand by bringing clients together to communicate with each other about their concerns. In addition to his legal and economics and accountancy degrees, Andrew is a graduate of the Australian Institute of Company Directors and has a sound understanding of the financial and governance issues affecting companies.
Su-Fern Tan
Su-Fern Tan has a blended background in technology and ESG, holding senior roles at Arup, Alexandria Real Estate Equities, Prescriptive Data and Catalent in addition to being on the Board at several high-profile real estate and government committees in the U.S, including the US Green Building Council. She is currently an advisor for New York City’s Commercial Buildings Working Group, focused on the successful delivery of NYC’s ambitious building carbon cap and trade scheme arriving in 2024. At CBRE, as the Head of ESG, Su-Fern uses her experience and knowledge to drive ESG outcomes in the property industry through real estate services. Her work enables CBRE to support clients, investors, and communities to deliver and exceed their ESG targets. Su-Fern relocated back to Australia from New York in early 2022.
Steven Askew
Steven Askew is a special counsel in the Real Estate and Projects group of Australian law firm, HWL Ebsworth. He specialises in commercial property transactions with a particular emphasis on all forms of commercial leasing and commercial property management. Steven has advised listed property trusts, developers, state and commonwealth government authorities, institutional and finance companies for over ten years.
Venue
Cliftons - Margaret St
Level 13, 60 Margaret St
Sydney 2000
NSW
Australia
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