Retail and Commercial Leasing Fundamentals
Issues covered include: Tenancy, tenants, franchise lesing, office sharing, subleases, Dispustes, Variation, Surrender provisions and Termination of Leases, remedies, defaults and damages, co-tenancy, covenants, breaches, insolvency, financial issues and risk, Outgoings, Guarantees, Insurance, Indemnities, Case and Legislative Update.
Description
Even a seemingly mundane leasing matter can get very messy, very quickly. An unsual tenancy arrangement pops up. There’s an unexpected redevelopment, assignment or termination. A dispute arises over outgoings. A guarantee or an indemnity suddenly becomes riddled with risk. Master how to deftly handle all these issues and more in this comprehensive guide to leasing.
Attend and earn 7 CPD units in Substantive Law
This conference was recorded in NSW on 19 June 2019
Session 1
Navigating Unique & Changing Circumstances and Disputes
Chair: William Calokerinos, Barrister, Wentworth Chambers
9.00am to 10.00am: Special Tenancy Arrangement Roundup: Understanding Unique Leasing Situations
- Leasing in public/private partnerships
- Office sharing
- Co-tenancy and operating issues
- Franchise leasing issues
- The unique challenges and benefits of short-term leases and pop-up stores
Presented by Alicia Albury, Partner; Best Lawyers 2019, Real Property Law; Recommended Leasing Lawyer, Doyle’s Guide 2019 and Lindsay Sheather, Senior Associate, Maddocks
10.00am to 11.00am: A Change in Plan: Dealing with Changing Circumstances in a Lease
- Redeveloping retail and commercial premises
- Understanding and planning for the risks
- Relocating existing tenants
- Tenant downsizing
- Opportunities and challenges for tenants and landlords
- Assignments and subleases
- Precise language to include in leases
- How to manage these situations when they arise
- Resolving disputes
Presented by Eva Oraham, Special Counsel; Property & Real Estate Rising Star, Doyle’s Guide 2017 and Laura Peck, Lawyer, Clayton Utz
11.00am to 11.15am Morning Tea
11.15am to 12.15pm: Variation, Surrender and Termination of Leases: Tips and Traps
- Variation
- When does variation to a lease constitute a surrender and re-grant of the lease?
- What are the potential implications of agreeing to variations of leases?
- How recent cases have affected the law in this area
- Surrender
- The importance of not overlooking surrender provisions when negotiating and drafting leases
- When surrender occurs: upon vacation of the space or the satisfaction of specified conditions
- The practical and legal effect of a failure to surrender in accordance with lease requirements
- Termination
- Improvements that must be removed upon expiration of the lease of earlier termination
- Potential damages in connection with a failure to vacate
Presented by Sebastian Busa, Partner, Baker McKenzie; Recommended Leasing Lawyer, Doyle’s Guide 2019
12.15pm to 1.15pm: Remedies and Damages: Practical and Creative Solutions for Getting What you Want
- What to do if a dispute doesn’t fit neatly into the ‘default’ box
- What if there’s a clear breach or default but the remedy provided in the lease is less than ideal?
- Self-help remedies for landlords and tenants: what’s allowed and what can be effective
- Non-monetary breaches and solutions: dealing with breaches of opening and operating covenants, co-tenancy clauses, use restrictions and more
- Monetary breaches and recovering damages: realistic and cost-effective strategies
- Insolvency considerations
Presented by Andrew Bulley, Barrister, 5 Wentworth Chambers
Session 2
Navigating Financial Issues and Risk
Chair: Denis Hall, Director – Real Estate and Developments, Madison Marcus Law Firm
2.00pm to 2.45pm: Outgoings for Retail and Commercial Leases in Today’s Market
- Outgoings payment structures
- Proper outgoings inclusions
- Capital vs non capital expenses
- Current issues in outgoings
- Standard NSW Law Society Lease and common amendments: what to watch out for
Presented by David Voet, Partner, Madison Marcus Law Firm
2.45pm to 3.30pm: A Practical Guide to Guarantees
- Security for your lease: types of guarantees
- Key points in guarantees
- Conditions and limits in guarantees
- Caps on guarantees
- Commercial considerations: net worth, liquidity and risk
- Replacement or additional guarantees
- When will the guarantee expire?
Prepared by Tara Linn, Senior Associate, MinterEllison
3.30pm to 3.45pm Afternoon Tea
3.45pm to 4.30pm: Making Effective Use of Insurance, Indemnities and Risk Management
- Using lease provisions to govern liability and application of insurance proceeds following a casualty
- Insurance, indemnity, waiver and casualty provisions: what to put into the lease and what to leave out
- Risk management
- Property and liability insurance: types of property insurance, what liability insurance covers and exclusions
- What works, what doesn’t and common mistakes that lead to uninsured claims
Presented by Dannelle Howley, Partner, Squire Patton Boggs
4.30pm to 5.15pm: Retail and Commercial Leasing Case and Legislative Update
Delve into all the latest cases, trends and developments that you need to be across for your practice and your clients.
Presented by Dean Claughton, Commercial Property Lawyer, Coleman Greig
Venue
Cliftons Sydney
Level 3, 10 Spring Street
Sydney 2000
NSW
Australia