Service

Retail Leasing & Projects

Key Contacts

Jonathan Gillard

Managing Principal

Jeff Kenny

Principal

Josh Orton

Principal

Katrina Wood

Principal

Related expertise

Dispute Resolution & Litigation Commercial Property & Developments Construction Property & Projects

Retail properties such as shopping malls and large format, “Big Box”, retail centres are a unique type of commercial property which have their own set of challenges. To get the best out of a commercial retail property, it is important to recognise this and engage with experts who understand the retail leasing environment and the types of tenants who occupy retail properties.

Our Retail Leasing & Projects Team have the depth of expertise in the retail property and leasing fields to deliver pragmatic and strategic legal advice - whether you are looking to develop a new retail property, or require advice in relation to existing premises.

Our experience spans from assisting with the initial development of a retail property, to being the day-to-day retail leasing and property advisors to landlords of shopping centres throughout New Zealand.

Our team are able to assist with a variety of matters, including:

Developments - both prior to and during the construction of a new retail property.
Negotiating and documenting lease arrangements with anchor and specialty tenants.
Rent reviews.
Implementations of re-developments both prior to and throughout the process.
Assisting with the termination of tenancies.
Providing advice in relation to defaulting tenants and leasing disputes.
General leasing and building management.

Notable experience:

Assisting landlords with the negotiation of agreements to lease and deeds of lease with major anchor tenants.
Providing day-to-day property advice and leasing documentation to the owners of several large retail shopping centres.
Providing advice in relation to the redevelopment and expansion of existing shopping centres.
Providing advice in relation to the development of a new regional shopping centre.
Handling the sale of a suburban shopping centre.

Retail leasing:
- Assisting Invercargill Central Ltd (landlord) with lease documentation and in negotiating of lease terms for each tenancy.
- Provided advice to Mountain Warehouse (tenant) on role out of retail stores across New Zealand.

Office Leasing
- Preparation of leasing documentation and assisted in negotiation of leasing terms with tenants for various high profile sites in Christchurch and Invercargill.

FAQs

Disclaimer: FAQ information is of a general nature only. The information included in no way constitutes legal advice and all readers should contact a law firm for advice relating to their specific circumstances.

How is a retail lease different from other commercial leases?

Retail leases often contain additional provisions which reflect the unique needs of retail premises. This includes clauses regarding trading requirements, marketing obligations, percentage rent (also called turnover rent), common areas, and redevelopment.

What happens to lease guarantees when a lease is assigned?

Typically guarantees will continue until the expiry of the current lease term.

How are common area costs allocated in shopping centres?

Typically common area costs are spread across the tenants.

Should I grant rights of renewal to tenants?

Typically rights of renewal have little to no advantage for a landlord and it is better to instead have a longer initial lease term.

What security should I require from a tenant?

Cash is king. A bank guarantee is the best form of security. After that, there are security deposits, then personal guarantees.