Retail Fitouts on renewal are standard practice
October 29th, 2007 by SimonContrary to popular belief, Landlords can request and often do, that a sitting tenant, update or fully refurbish their premises, in accordance with fitout specifications dictated by the Landlord.
However, what is less understood, is who pays for this fitout?
According to a leading government source, “ it is all up for negotiation - and tenants who let the landlord know they want the shop more than the landlord wants them, give away their power in the negotiation.” In other words, it is possible to use this, as a negotiating chip in the tenant’s armory of items. Some tenants manage, to get a large contribution to fitout, or equivalent rent free period, while others get nothing.
Tags: fitout, Retail Leasing
Posted in Retail Leasing. Permalink for this post: permalink.
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