Commercial Leasing Essentials: Options, Rent Review, Binding Agreements, Tax & Unfair Contracts

Don’t leave yourself exposed to significant risks in your leasing transactions. With potential disputes arising from poorly negotiated contract terms, financial setbacks from an inability to understand key taxation issues, or a misunderstanding of the binding nature of agreements resulting in a failure to protect your clients’ rights – the risks are endless. Attend this masterclass and acquire vital skills in drafting advantageous lease options, managing rent reviews effectively, and enhance your overall leasing strategy today.

Thursday, 14 November 2024
Description

Attend and earn 4 CPD units in Substantive Law
This program is based on VIC legislation

9.50am to 10.35am Are your Heads of Agreement and Lease Binding?

 

  • What even is a ‘Heads of Agreement’!?!?
  • Is a ‘Head of Agreement’ ever binding and, if so, when?
  • What is the difference between a Heads of Agreement, an agreement to lease and a lease?
  • How do options fit in with this? 

Presented by Sam Hopper SC, Barrister, Owen Dixon Chambers West 

10.35am to 10.50am Morning Tea
11.45am to 12.30pm A Guide to Rent Review from Both the Landlord and Tenant Perspectives

 

  • Face vs effective rent review
  • Mechanics of market rent review process 
  • Assumptions and disregards
  • Practical considerations and tips and traps from Landlord and Tenant perspectives
  • Retail lease requirements
  • Recent caselaw 

Presented by Emilie Fary, Special Counsel, Baker & McKenzie

Chair:

Max Cameron, Partner, MinterEllison; Leading Leasing Lawyer, Doyle’s Guide 2024; Leading Property & Real Estate Lawyer, Doyle’s Guide 2024

9.00am to 9.50am Unfair Contract Terms in Leases


Consider the complexities of unfair contract terms within lease agreements as you unpack common traps. Learn how to identify and challenge unfair clauses, ensuring fairer, more transparent leasing practices for all parties involved.
 
Presented by Joseph Carney, Barrister, Svenson Barristers

10.55am to 11.45am Exercise of Options

 

  • What is an option?
  • Characteristics of an option in a lease for a further term compared to characteristics of an option to purchase land: the differences
  • Requirements for an effective exercise of an option
  • Consequences of an effective exercise of an option
  • Once an option is exercised is it necessary for a new Deed of Lease to be entered?
  • Is it possible to obtain relief against forfeiture of the option if an option is not exercised in accordance with the lease?  

Presented by Robert Hay KC, Owen Dixon Chambers East

12.30pm to 1.15pm Taxation Issues Relating to Leasing Transactions

 

  • Taxation implications including income tax, GST and stamp duty
  • Issues with incentives
  • Issues with fit-outs and improvements
  • Tricks & traps 

Presented by Ross Higgins, Partner and Chartered Tax Adviser, Mills Oakley;  Member, Tax Technical Committee for The Tax Institute

Presenters


Joseph Carney, Barrister, Svenson Barristers
Joseph’s practice at the Victorian bar commonly involves large disputes. On the commercial side this includes acting in matters concerning the conduct of trading trusts, shareholder rights, share valuations, breaches of director’s and fiduciary duties, professional negligence (solicitors and actuaries), commercial fraud, contractual rights of termination and assessments of damages. On the Chancery side it includes acting in disputes concerning large private trusts and estates. Recent cases have involved disputes concerning the administration of certain large family trusts include Chan v Valmorbida Custodians Pty Ltd [2021] VSC 527 (settled at trial) where he was led by Allan Myers QC. He currently acts for a substantial family trust in proceedings in the Supreme Court of New South Wales, where he is again led by Allan Myers QC.


Ross Higgins, Partner and Chartered Tax Adviser, Mills Oakley
Ross Higgins is a partner in the Melbourne office Private Advisory Team working primarily in the area of Taxation Law. Ross has particular expertise in complex income tax, structuring, funding and transactional issues for a myriad of privately owned groups, listed groups and foreign-owned companies. He also advises on GST and duty issues and on tax audits and disputes. Ross brings a wealth of experience from advisory and legal implementation work in relation to many merger and acquisition transactions, property developments, complex group restructures, cross-border operations/investments, tax consolidated groups, employee share schemes and privately owned group issues including asset protection and succession planning.


Max Cameron, Partner, MinterEllison
Max Cameron is a leading property lawyer with over 41 years acting for many of Australia's leading landlords and tenants. His formidable commercial property and property management knowledge and experience includes recognised expertise in tenancy law, commercial contracts, mediation and litigation, and property development, particularly high-profile retail development. Known for his management and co-ordination of national, cross-jurisdiction teams, Max has a strong track-record acting for large corporate and public sector clients on a wide range of property matters including the leasing, acquisition, development, management and disposal of prime office, retail and industrial portfolios. Max's expertise is widely recognised as leading in independent legal directories including Chambers, Best Lawyers and Doyle's Guide and has been recognised as one of Australia's preeminent Real Estate lawyers. Max is the co-author of the MinterEllison publication 'Retail Tenancy Legislation Compendium.'


Sam Hopper SC, Barrister, Owen Dixon Chambers West
Sam Hopper is one of the Victorian Bar's leading property and insolvency barristers. He acts for investors in relation to various collapsed managed investment schemes, regularly advises and appears for the Small Business Commissioner and regularly appears in the retail tenancies list at VCAT. Sam also maintains an active blog discussing various issues relating to property and insolvency at http://samhopperbarrister.wordpress.com/


Robert Hay KC, Owen Dixon Chambers East
Robert Hay has been a barrister at the Victorian Bar since 1992 and practice mainly in the area of property law including sale of land, owners' corporation disputes, mortgages and leasing. Robert was appointed as a senior counsel in November 2014. He also acts as a mediator in property law disputes. Robert has co-authored the following leading texts - Bradbrook, Croft and Hay Commercial Tenancy Law (3rd ed, LexisNexis), 2009; Croft and Hay The Mortgagee's Power of Sale (3rd)(LexisNexis), 2012; Croft and Hay Retail Leases Victoria (looseleaf)(LexisNexis); and Hay, Lloyd and Rimmer Transfer of Land Act (Vic), 2nd ed, Thomson Reuters. Robert is also case note editor of the Property Law Journal (LexisNexis) and author of the popular blog "The Property Law Blog". Before becoming a barrister he was a cadet journalist and journalist with "The Mercury" newspaper in Hobart (1978 - 1983) and a solicitor at Arthur Robinson & Hedderwicks in Melbourne (now Allens) (1987 - 1992).


Emilie Fary, Special Counsel, Baker & McKenzie
Emilie has over 20 years' experience as a Commercial Real Estate lawyer with in depth knowledge and experience in a broad range of commercial real estate matters, with a particular focus on industrial and office leasing. Emilie has comprehensive commercial office, retail and industrial leasing experience acting for both owners and occupiers nationally, including extensive experience in preparation and negotiation of Agreements for Lease and related pre-commitment documentation. In addition to commercial leasing, Emilie's practice also includes sales and acquisitions for institutional investors and preparation and negotiation of development documentation, acquisition of development land and off the plan broad acre residential sales. Emilie has recently held Committee roles on the Property Council of Australia VIC Tax, Retail and Commercial Leasing Committees. Emilie is commercial and astute in her approach with strong project management skills to deliver results on time.

2411V05

Commercial Leasing Essentials: Options, Rent Review, Binding Agreements, Tax & Unfair Contracts

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Single Session
Thursday, 14 November 2024
9.00am to 1.15pm Australia/Sydney
CPD Points 4
$505.00
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Venue
InterContinental Melbourne

495 Collins Street, Melbourne 

Directions

Nearest Public Transport:

  • By train: Southern Cross Station (5-minute walk)
  • By subway: Southern Cross Station (5-minute walk)
  • By Tram: Trams on routes 12, 109, 11 and 48 all pass the hotel along Collins Street, get off at the William Street stop (3-minute walk). The hotel is located within the free tram zone which means travel within the CBD on the tram is free.
Parking Information

Valet Parking is only available for Resident Guests.

Nearby Parking: 
Wilson Parking - View locations and rates here