In my role as leasing executive for Stockwell Property Group, I worked with Karyn on several retail projects of neighbourhood size and in every case I was impressed with Karyn’s work ethic and ability to work with the leasing team to achieve their desired outcome from retailers. Highly recommend.
Development
Get it right from the very beginning
Choices you make early in your development project will affect how smoothly the tenancy delivery process goes at the end.
We provide strategies around lease inclusions, management of lessor’s works and base building adjustments, and more.
Structuring the contract
The contract with your builder is obviously critical to the project. It’s very important to make provision for how you expect them to deliver the tenancy works – what, when and how.
If that’s not clearly agreed up front it is almost impossible to fix later, and can mean you open a centre with hoardings instead of shops – disappointing for everyone.
Structuring the lease
Don’t just use boiler-plate documents that you have used before. Every project is different, and your lease documents should reflect that.
Are you offering up works, money, a mixture? What are the base building provisions going to include? When will incentives be paid, and who gets the tax benefits? And what milestones will you set for the tenant to ensure progress?
Pulling it all together
Make sure you coordinate what you are offering the tenant with what your builder is going to provide.
Lease documents and building contracts don’t usually get finalised at the same time, so working out early how you want the project to be delivered, all the way down to the tenancy fitout stage, will save time and trouble later.
How early is too early?
Tenancy delivery is most effective if it starts when the deal is being negotiated – that way we can help leasing executives work out how much it might cost.
But long before that, Setting Up Shop will consult with the development team to structure and program your project so that it is as successful as possible.
These two phases can be quoted separately. Contact us to find out more.
Tips & Tricks from the experts
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Our mission is to help you deliver fitouts on time, on budget and built to your specifications. Contact us today to discuss how we can assist your project.
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