sec.5AMeaning of retail shop lease

sec.5A Meaning of retail shop lease

A retail shop lease is a lease of a retail shop. However, a retail shop lease does not include a lease of any of the following— a retail shop with a floor area of more than 1,000m 2 ; a retail shop within the South Bank corporation area if the lease is entered into or granted by the South Bank Corporation and is either— a perpetual lease; or another lease for a term, including renewal options, of at least 100 years; premises used wholly or predominantly for the carrying on of a business by a lessee for a lessor as the lessor’s employee or agent; premises in a theme or amusement park; premises at a flea market, including an arts and crafts market; a temporary retail stall at— an agricultural or trade show; or a carnival, festival or cultural event; premises that, if the premises were not leased, would be premises within a common area of a retail shopping centre, but only if the premises are used for 1 or more of the following— an information, entertainment, community or leisure facility; telecommunication equipment; an automatic teller machine; a vending machine; an advertisement display; storage; parking. Also, a retail shop lease does not include a lease of premises located in a retail shopping centre if— the premises are not used wholly or predominantly for carrying on a retail business; and at the time the lease is entered into, either— if the premises are located on a level of a multi-level building—the retail area of the level is 25% or less of the total lettable area of the level; or if the premises are located in a single level building—the retail area of the building is 25% or less of the total lettable area of the building. A lease of premises for an accounting practice on level 4 of a retail shopping centre is not a retail shop lease if, at the time the lease is entered into, 75% of the total lettable area of level 4 is used wholly for professional or commercial offices. A lease of premises for a medical centre in a stand-alone single level building within the parking area of a retail shopping centre is not a retail shop lease if, at the time the lease is entered into, 80% of the total lettable area of the building is used wholly for providing medical services. The retail area , for a level or building in a retail shopping centre, is the area of the level or building comprising premises used wholly or predominantly for carrying on retail businesses. The total lettable area , for a level or building in a retail shopping centre, is the total area of all the premises of the level or building that are— leased or occupied; or available for lease or occupation. s 5A ins 2016 No. 21 s 5 (sec.5A-ssec.1) A retail shop lease is a lease of a retail shop. (sec.5A-ssec.2) However, a retail shop lease does not include a lease of any of the following— a retail shop with a floor area of more than 1,000m 2 ; a retail shop within the South Bank corporation area if the lease is entered into or granted by the South Bank Corporation and is either— a perpetual lease; or another lease for a term, including renewal options, of at least 100 years; premises used wholly or predominantly for the carrying on of a business by a lessee for a lessor as the lessor’s employee or agent; premises in a theme or amusement park; premises at a flea market, including an arts and crafts market; a temporary retail stall at— an agricultural or trade show; or a carnival, festival or cultural event; premises that, if the premises were not leased, would be premises within a common area of a retail shopping centre, but only if the premises are used for 1 or more of the following— an information, entertainment, community or leisure facility; telecommunication equipment; an automatic teller machine; a vending machine; an advertisement display; storage; parking. (sec.5A-ssec.3) Also, a retail shop lease does not include a lease of premises located in a retail shopping centre if— the premises are not used wholly or predominantly for carrying on a retail business; and at the time the lease is entered into, either— if the premises are located on a level of a multi-level building—the retail area of the level is 25% or less of the total lettable area of the level; or if the premises are located in a single level building—the retail area of the building is 25% or less of the total lettable area of the building. A lease of premises for an accounting practice on level 4 of a retail shopping centre is not a retail shop lease if, at the time the lease is entered into, 75% of the total lettable area of level 4 is used wholly for professional or commercial offices. A lease of premises for a medical centre in a stand-alone single level building within the parking area of a retail shopping centre is not a retail shop lease if, at the time the lease is entered into, 80% of the total lettable area of the building is used wholly for providing medical services. (sec.5A-ssec.4) The retail area , for a level or building in a retail shopping centre, is the area of the level or building comprising premises used wholly or predominantly for carrying on retail businesses. (sec.5A-ssec.5) The total lettable area , for a level or building in a retail shopping centre, is the total area of all the premises of the level or building that are— leased or occupied; or available for lease or occupation. s 5A ins 2016 No. 21 s 5