Queensland Subordinate Legislation as Made

RETAIL SHOP LEASES REGULATION 2016 - REG 4

4 Prescribed particulars for assignor’s disclosure statement

The prescribed particulars for a disclosure statement given by an assignor of a retail shop lease under section 22B(1) of the Act are the following—

(a) the names of the assignor and prospective assignee;

(b) the address and description of the leased shop;

(c) the leased shop’s area or estimated area;

(d) the date the lease ends;

(e) details of any options to renew the lease and the next date for exercising an option;

(f) details of rent, outgoings, promotion amounts and any other amounts payable to the lessor under the lease for—

(i) the last 1 year; or

(ii) if the assignor has carried on the business for a period of less than 1 year—the period;

(g) the basis for a rent review under the lease and the date for the next review;

(h) if the assignment involves the prospective assignee continuing the business carried on in, or from, the leased shop by the assignor—details of the sales figures and trading performance of the business for—

(i) the last 3 years; or

(ii) if the assignor has carried on the business for a period of less than 3 years—the period;

(i) details of any outstanding notices from—

(i) the lessor under the lease; or

(ii) any government entity in relation to the leased shop;

(j) details of any arrears of rent or other breaches of a term of the lease by the assignor for which the lessor has not issued a notice to the assignor;

(k) details of any rent concessions or other benefits given or made available to the assignor by the lessor in relation to the lease;

(l) details of any rent concessions or other benefits applicable to the balance of the term of the lease that would benefit, or transfer to, the assignee;

(m) details of any encumbrance on—

(i) the lease; or

(ii) any of the fixtures or fittings in the leased shop;

(n) details of the ownership of any of the leased shop’s fixtures or fittings not owned by the assignor;

(o) details of any alteration or demolition works the assignor knows are to be carried out by or for the lessor for any of the following—

(i) the leased shop;

(ii) the building or retail shopping centre in which the leased shop is located;

(iii) the roads surrounding the leased shop, leased building or retail shopping centre;

(p) an acknowledgement that the assignor has given the assignee—

(i) a copy of the disclosure statement given by the lessor to the assignor before the assignor entered into the lease; and

(ii) details of any material changes in the information contained in the statement that have happened since the statement was given; and

(iii) a copy of the current lease.