The State Government has released for public comment, draft changes to WA’s retail tenancy legislation. The changes were required following amendments to the Commercial Tenancy (Retail Shops) Agreements Act last year.
The proposed changes to regulations include:
· a definition of ‘lettable area’,
· a standard redevelopment and relocation clause for leases of less than five years,
· prescribing businesses as being included or excluded from the Act, and
· changes to the tenant guide and disclosure documents in the regulations.
The Property Council is reviewing the proposed new regulations with the Shopping Centre Council of Australia.
It is planned that the new regulations will come into effect in October 2012.